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The LCA-Vision Full Value Committee Urges LCA-Vision (NASDAQ: LCAV) Stockholders to Reject the Status Quo
Date:3/6/2009

keep the current Board and management team.

You may have seen that a proxy advisory firm recently recommended that shareholders not replace the current Board at this time. Naturally, we are disappointed that this firm -- which does not have any in-depth knowledge of LCAV or the laser correction industry and is not an LCAV investor -- took this position. You should know, however, that their support of the current Board was tepid, at best, acknowledging the Company's decline under Steve Straus's management, as well as expressing concerns regarding Board compensation and the poison pill that the Board adopted without shareholder approval, among other issues.

If on the other hand, you're ready for a change, the time is now.

Under Mr. Straus and the Board, LCAV has missed consensus estimates every single quarter of 2008 and six of the eight quarters that Mr. Straus has served as CEO. Needless to say, the unbroken record of over-promising and under-delivering has severely damaged the value of all of our LCAV investments. Although they acknowledge there were some mishaps in the past, the Board and Mr. Straus would now like you to believe that business has "stabilized," implying that LCAV will be able to achieve 2008 procedural volume levels in 2009, a prospect we find highly unrealistic.

In addition, they have told you that LCAV has a three-year cash position at the 90,000 annual procedural level. Yet, deep within a filing with the Securities and Exchange Commission, they recently acknowledged for the first time that the Company now expects that the first quarter 2009 procedural volume will be down "about 35%" from the first quarter of 2008, seriously jeopardizing their own prediction of a three-year cash position.

What else is the Company not telling stockholders? As you decide how to vote your shares, consider the following concerns, which
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SOURCE The LCA-Vision Full Value Committee
Copyright©2009 PR Newswire.
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