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The LCA-Vision Full Value Committee Files Preliminary Consent Solicitation Statement to Reconstitute the Board of Directors of LCA-Vision Inc.
Date:1/16/2009

CINCINNATI, Jan. 16 /PRNewswire-FirstCall/ -- The LCA-Vision Full Value Committee (the "Committee") today reported that it has filed with the Securities and Exchange Commission a preliminary consent statement to undertake a consent solicitation to reconstitute the board of directors of LCA-Vision Inc. (Nasdaq: LCAV) (the "Company" or "LCA-Vision"). The Committee is comprised of Dr. Stephen N. Joffe, Craig P.R. Joffe, Alan H. Buckey, Jason T. Mogel, Robert Probst, Robert H. Weisman and Edward J. VonderBrink, and its members collectively own approximately 11.4% of the Company's outstanding shares. The Committee includes the founders and former executive management team of LCA-Vision that helped build the Company from the ground up into the industry leader it once was -- Dr. Stephen N. Joffe, Craig P.R. Joffe and Alan H. Buckey.

In today's filing, the Committee expressed its concern that the Company is experiencing a serious financial and operating crisis. Specifically, the Committee stated that "in a very short period of time, over 90% of the Company's value has been wiped out under the existing executive management team and Board of Directors." The Committee's filing went on to point out that "in the little more than two years since Steven Straus was hired as CEO by the Board of Directors in November 2006, LCA-Vision shares have decreased from $32.71 to $3.12, the closing price on the day before we disclosed our 11.4% position in a filing with the Securities and Exchange Commission."

The filing also disclosed that the Committee has a plan to put the Company back on the path towards maximizing stockholder value, leveraging the depth of its members' past experience, both with the Company and in the laser correction industry generally. The Committee reiterated its strong belief that it is in LCA-Vision's best in
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SOURCE LCA-Vision Inc.
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