Date:11/26/2008

uld cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: The conflicts in the region; the effects of competition in our industry, and changes in our relationships with optical laboratories, distributors, research and development partners and other third parties; the effects of the international expansion of our operations and our ability to manage our growth, including our ability to manage potential future acquisitions; the effect of global economic conditions in general and conditions in Shamir's industry and target markets in particular; shifts in supply and demand; market acceptance of new products and continuing products' demand; the impact of competitive products and pricing on Shamir's and its customers' products and markets; timely product and technology development/upgrades and the ability to manage changes in market conditions as needed; interest rate fluctuations; and other factors detailed in Shamir's filings with the Securities and Exchange Commission. Shamir assumes no obligation to update the information in this release.

(Tables to follow)

    SHAMIR OPTICAL INDUSTRY LTD.

    Consolidated Balance Sheets
    (US dollars in thousands, except
     share and per share data)     As of December 31,   As of September 30,
                                         2007                  2008
                                                            (Unaudited)

    CURRENT ASSETS:
    Cash and cash equivalents           $18,953             $21,786
    Short-term investment                14,375               3,338
    Trade receivables(1)                 30,719              34,699
    Other receivables and prepaid
     expenses                             7,523              11,130
    Inventory                            27,972              27,985
    
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SOURCE  Shamir Optical Industry Ltd.
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