Photo Therapeutics Enters Consumer Market with N.V. Perricone MD

Business Wire, Sept 19, 2008

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on managements' current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this release include statements about future financial and operating results and intentions of Photo Therapeutics Limited, Photo Therapeutics, Inc. and PhotoMedex, Inc., as well as the proposed acquisition, and its financing of Photo Therapeutics Limited and Photo Therapeutics, Inc. by PhotoMedex.

The following risks and factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: risk that the proposed acquisition and its proposed financing will not be consummated or will not be consummated during the fourth quarter of 2008; risk that Photo Therapeutics' business may not be integrated successfully with that of PhotoMedex; that there will be substantial costs related to the proposed acquisition and its financing; risk of subsequent default and forced repayment under the convertible notes to be issued in the proposed financing if any breach occurs related to these convertible notes; failure by PhotoMedex to receive from its stockholders the necessary proxy approval for the third-party investment to finance the acquisition; risks relating to technology and product development, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on strategic partners, ability to obtain financing and meet competition. Photo Therapeutics and PhotoMedex are under no obligation to (and expressly disclaim any such obligation to) update or alter these forward-looking statements, whether as a result of new information, future events or otherwise.

In connection with seeking stockholder approval of the proposed financing, PhotoMedex intends to file proxy materials and other relevant documents with the Securities and Exchange Commission. PhotoMedex's stockholders, and especially those reading this release, are urged to read the proxy statement (and any other relevant documents filed) with the SEC when they become available, because they will contain important information about the proposed financing. PhotoMedex will mail the definitive proxy statement to its stockholders, who may also obtain free copies of the final proxy statement, as well as PhotoMedex's other filings, without charge, at the SEC's Web site (www.sec.gov) when they become available. Copies of the filings may also be obtained without charge from the Company by directing a request to: 147 Keystone Drive, Montgomeryville, Pennsylvania, 18936, Attention: General Counsel.

The directors, executive officers and other members of management and employees of PhotoMedex may be deemed under SEC rules to be participants, through this press release, in the solicitation of proxies from stockholders in respect of the proposed financing. Information regarding PhotoMedex's directors and executive officers is available in the Company's 2007 Annual Report on Form 10-K, filed with the SEC on March 17, 2008, as amended by the Company's annual report on Form 10-K/A as filed with the SEC on May 8, 2008. Additional information regarding the interests of such potential participants will be included in the proxy statement and the other relevant documents filed with the SEC when they become available.