LCA-Vision Withdraws From Nasdaq Europe; Company Cuts Dual-Listing Expenses and Focuses on U.S. Financial Markets

Business Wire, Dec 28, 2001

Business Editors/Health & Medical Writers

CINCINNATI--(BW HealthWire)--Dec. 28, 2001

LCA-Vision Inc. (Nasdaq:LCAV), the leading provider of value-priced laser vision correction services across the U.S., announced today that the Company is withdrawing its listing from the Nasdaq Europe exchange. LCA-Vision will continue to trade on Nasdaq under the ticker symbol "LCAV" in the U.S.

Nasdaq Europe quotes were found on Reuters under the symbol "LCAV.ED," on Bloomberg under the symbol "LCAV ES" and on Bridge under the symbol "XE; LCAV." No additional shares of LCA-Vision common stock were issued in connection with its NASDAQ Europe listing.

"Current market conditions no longer justify the expense of a dual U.S. and European NASDAQ stock market listing for LCA-Vision," commented Stephen Joffe, Chairman of LCA-Vision. "By concentrating our resources on the U.S. financial markets, I am confident we will build shareholder value as we continue our progress in gaining market share and returning to profitability."

Since the initial listing on Nasdaq Europe on October 27, 2000, only 8,400 shares have been traded. Due to the lack of trading volume only one European market maker continued to make a market in LCA-Vision stock. Therefore, the Company is out of compliance with Rule 53.0.2 (a) 3 of the Nasdaq Europe Rule Book that requires issuers to have a minimum of two market makers. LCA-Vision elected to withdraw the Company's Nasdaq Europe listing rather than spend the necessary funds to seek an additional market maker to maintain the listing.

Trading of LCA-Vision shares on the NASDAQ Europe market will cease on December 31, 2001, after which European investors may trade on the U.S. Nasdaq National Market.

LCA-Vision owns and operates 31 LasikPlus laser vision correction facilities in the U.S., plus one in Canada and a joint venture in Europe.

For additional information, please visit the Company's Website at at www.LasikPlus.com.

This news release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, the impact of competition, pricing, procedure demand, marketplace acceptance, patient outcomes, different healing results, unforeseen fluctuations in operating results, general economic conditions, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.