ev3 Inc. Announces Final Determination of Shares Issued as Merger Consideration

Business Wire, Oct 18, 2007

PLYMOUTH, Minn. -- As previously announced, ev3 Inc. (NASDAQ:EVVV) completed its merger with FoxHollow Technologies, Inc. on October 4, 2007. ev3 today announced final results for the elections made by FoxHollow stockholders regarding the form of merger consideration they will receive in the merger. ev3 will issue approximately 43.1 million shares of ev3 common stock and pay approximately $81.8 million in cash pursuant to the merger. Each FoxHollow share electing stock in the merger will receive 1.62 shares of ev3 common stock, excluding treatment of fractional shares. Each FoxHollow share electing cash in the merger will receive $21.427 in cash and 0.281 shares of ev3 common stock, excluding treatment of fractional shares. Those stockholders that elected the mixed consideration and those stockholders who did not make an election in connection with the merger, upon surrender of their share certificates, will receive 1.45 shares of ev3 common stock and $2.75 in cash for each share of FoxHollow common stock, excluding treatment of fractional shares. No fractional shares of ev3 common stock will be issued. Instead, each FoxHollow stockholder that would otherwise be entitled to receive ev3 fractional shares will receive an amount in cash based on $16.32 per share of ev3 common stock, the average closing sale price of a share of ev3 common stock for the 10 consecutive trading day period ending on the second trading day prior to the day on which the merger occurred.

ev3 expects the merger consideration in the form of its shares of common stock and/or cash will be distributed to former holders of FoxHollow common stock within the next several days. FoxHollow stockholders with questions regarding individual allocation results should contact Innisfree M&A Incorporated toll free at (888)-750-5834.

About ev3 Inc.

ev3 Inc. is a global medical device company focused on improving the lives of patients with vascular disease through the development of innovative endovascular therapies.

ev3 and the ev3 logo are trademarks of ev3 Inc., registered in the U.S. and other countries. This press release contains other trademarks and trade names of ev3 Inc. and other third parties, which are the property of their respective owners.