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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

are based on our intimate understanding of the business and the industry:

  • We believe the Company's first quarter 2009 procedure volume will decline well in excess of the 35% projected by management, compared to the first quarter 2008.
  • We believe the Company's new marketing initiatives are NOT working. In fact, we believe the Company may report one of its highest marketing costs per procedure in the first quarter 2009, ever, possibly even exceeding $500.
  • We believe that for the first time in over a decade, LCAV will likely report a significant adjusted loss in the first quarter 2009, seasonally the Company's strongest and most profitable quarter. If so, this does not bode well for the rest of the year and management's latest set of promises.

Everything we have heard from the current Board and management demonstrates that they lack a fundamental understanding of LCAV's business and the core drivers of the Company's profitability. They lack an understanding of the major problems confronting our Company, and have minimal insight into how to fix them. As they make vapid promises of future performance, they are asking stockholders for more time and patience.

But for stockholders, there can be no more time, there can be no more patience. In the race between the cash running out and the key physician and employee asset base crumbling, on the one hand, and the Board and management scrambling to learn the business, on the other, the stockholders stand to be the ultimate losers.

Time is of the essence. Please sign, date and return your WHITE consent card as soon as possible with a vote to remove the existing members of the Board and to replace them with our highly qualified nominees. As the Company's largest shareholders, with unique insights and unparalleled industry and Company-specific
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SOURCE The LCA-Vision Full Value Committee
Copyright©2009 PR Newswire.
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