TLC And Laser Vision Centers Provide Merger Update

Business Wire, Dec 27, 2001

Business Editors

BETHESDA, Md. & ST. LOUIS--(BUSINESS WIRE)--Dec. 27, 2001

TLC Laser Eye Centers Inc. (Nasdaq:TLCV) (TSE:TLC.) and Laser Vision Centers, Inc. (Nasdaq:LVCI) jointly issued the following update on the estimated time table for completing their proposed merger, announced on August 27, 2001.

On December 7, 2001, TLC filed an amended Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission ("SEC").

The merger agreement between TLC and LaserVision provided that after December 31, 2001 either party could determine to terminate the merger agreement if the merger had not yet been completed. However, to allow sufficient time for the SEC to complete its review of the amended Registration Statement and for TLC and LaserVision to mail to their shareholders a Proxy Statement/Prospectus in connection with the transaction, the companies have agreed to extend the termination date to March 31, 2002.

About TLC

Founded in 1993, TLC enjoys a number of valuable assets including a network of more than 12,500 affiliated doctors, access to some of the newest refractive technologies, proven patient education and marketing programs, The TLC Lifetime Commitment SM to patients, a full suite of advanced information systems and support services, and a well established corporate brand.

About LaserVision

Founded in 1986, LaserVision brings extensive relationships with more than 900 independent surgeons, a strong operations management culture, state-of-the-art mobile laser technology, and experience with the mobile cataract services and ophthalmic ambulatory surgical center businesses. LaserVision operates in the United States and the United Kingdom.

Map

A map showing the geographical location of each TLC and LaserVision site can be viewed at www.tlcvision.com/merger/index.html or www.laservision.com/merger.> Important Additional Information Will be Filed with the SEC

This press release contains certain forward-looking statements about TLC, LaserVision and the proposed merger within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934, which statements can be identified by the use of forward looking terminology, such as "may", "will", "expect","intend", "anticipate", "estimate", "predict", "plan" or "continue" or the negative thereof or other variations thereon or comparable terminology referring to future events or results. Forward-looking statements, by their nature, are subject to risks and uncertainties, TLC's and LaserVision's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, including the ability of TLC and LaserVision to consummate a merger and successfully integrate operations, the timing of expenditures and expansion opportunities, any of which could cause actual results to vary materially from current results or anticipated future results.

See TLC's reports filed with the Toronto Stock Exchange and the U.S. Securities and Exchange Commission and LaserVision's reports filed with the U.S. Securities and Exchange Commission from time to time for cautionary statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties, that could cause actual results to differ materially from results referred to in forward-looking statements. TLC and LaserVision assume no obligation to update the information contained in this press release to update forward-looking statements to reflect changed assumptions, the occurrence of anticipated events or changes in future operating results, financial condition or business over time. TLC has filed an Amended Registration Statement on Form S-4 with the SEC in connection with the transaction, and TLC and Laser Vision have filed with the SEC and will mail to their shareholders a Proxy Statement/Prospectus in connection with the transaction.

The Registration Statement and the Proxy

Statements/Prospectus will contain important information about TLC, Laser Vision, the transaction and related matters. You are urged to read the Registration Statement and the Proxy Statements/Prospectus carefully. You will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus and other documents filed with the SEC by TLC and Laser Vision through either company or through the web site maintained by the SEC at www.sec.gov. TLC and Laser Vision, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies with respect to the transaction. Information regarding TLC's directors and executive officers is contained in TLC's reports filed with the SEC, which are available at the web site maintained by the SEC at www.sec.gov or directly from TLC. Information regarding Laser Vision's directors and executive officers is contained in Laser Vision's reports filed with the SEC, which are available at web site maintained by the SEC at www.sec.gov or directly from Laser Vision.