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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

lming support for the Committee.

THEIR CLAIM: The Company's test of its new marketing concept in 13 markets over a three-week period "resulted in a 34% increase in eye procedures performed compared with a control group of 46 markets over a four-week period."

THE REALITY: We understand that the Company has admitted internally it did not use any new creative marketing concepts during this three-week test. In fact, the alleged 34% increase in procedures resulted from a test conducted in the fourth quarter of 2008, many weeks before the January 2009 completion of the segmentation research they claim was used in the test. Also, the Company has not provided any material details regarding the test, including how much was spent in the test versus control markets, the marketing cost per procedure, or the total return on its investment. Although the Company claims it is encouraged by initial marketing results, we understand that marketing forecasts continue to be reduced internally. While the Company continues to spend the same amount of money, the calls and appointments are not coming in as expected.

THEIR CLAIM: The Company's model is outdated and must be changed to a "Lifetime Vision" model. They proudly proclaim that the "advancement and development of the 'Lifetime Vision' model will be the primary focus of the Company's management in 2009."

THE REALITY: They fail to tell you the anticipated costs of transforming the model, and do not reveal how the Company plans to derive revenues from it. Or how much the Company will need to spend in medical equipment and staffing to change its model. Or how the Company will avoid regulatory, licensing and possibly fee splitting issues. Or how the Company plans to avoid competing against those of its affiliated surgeons who are currently doing intraocular procedures in their private practices when the Company expands into these other surgical procedu
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SOURCE LCA-Vision Full Value Committee
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