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The LCA-Vision Full Value Committee Commences Consent Solicitation to Elect New Board of Directors at LCA-Vision (Nasdaq: LCAV) and Sends Letter to Stockholders
Date:2/9/2009

09 SEC filing, the Company stated, "Your Board has been advised that members of the Joffe Group have threatened to terminate surgeons and Company employees who do not support their takeover bid if their consent solicitation is successful. Your Board believes that these tactics are divisive, undermine surgeon and employee morale and seek to benefit the Joffe Group at the expense of other stockholders."

A little over a week later, the Company backtracked and revised this statement, instead claiming that the Board had been advised that "members of the Joffe Group have threatened to terminate a Company employee."

THE REALITY: The only employee we have threatened to terminate is CEO Steve Straus - publicly and for good reason. Rather than point the finger at us, Steve Straus should look at his own actions that have "undermined surgeon and employee morale." Since Steve Straus was appointed CEO in November 2006, at least 12 of the Company's leading ophthalmologists have either resigned or been terminated by the Company, apparently without cause. The Company would like you to overlook the fact that under our management, physician satisfaction was high and we enjoyed little attrition among the physician network.

In fact, in a letter dated June 10, 2008, a majority of the Company's affiliated surgeons informed the Chairman and independent directors that they had "NO CONFIDENCE in the ability of Mr. Steve Straus to right the direction of LCA-Vision as a businessman and as a leader of surgeons and staff." This letter, which was signed by 40 of the 46 surgeons contacted, was followed up by subsequent correspondence to the LCA Board from the surgeons declaring their lack of confidence in the CEO. We understand that a follow-up survey among the physicians in January 2009 again resulted in an overwhelming lack of confidence in CEO Steve Straus and the current Board, while at the same time demonstrating overwhe
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SOURCE LCA-Vision Full Value Committee
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