Coastal Contacts Inc.

Coastal Contacts Inc.

September 06, 2007 18:18 ET

Coastal Contacts Opposes B.C. Opticians Restrictive Tactics

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2007) -


Coastal Contacts Inc. (TSX:COA) Coastal Contacts announced today that it received a petition filed by the College of Opticians of British Columbia (the "Opticians") in the Supreme Court of British Columbia. The Opticians seek an order to restrict Coastal Contacts from selling contact lenses to members of the public in British Columbia.

Coastal Contacts is committed to complying with all applicable laws. "We believe the petition is without merit and intend to vigorously defend against these actions. We anticipate that this matter will be resolved promptly," said Roger Hardy, President and Chief Executive Officer of Coastal Contacts Inc.

"We have shipped more than 100 million contact lenses to more than two million customers worldwide since being founded in 2000," added Mr. Hardy. "While sales to BC residents are not material when compared to Coastal's overall revenues, the Company currently has over 90 valued employees in its Vancouver location."

About Coastal Contacts:

Coastal Contacts supplies replacement contact lenses directly to consumers at, on average, up to a 50 to 70% discount to retail prices. It is the world's fastest-growing vision care supplier with cumulative sales of more than $250 million worldwide since 2000. Leveraging its world class operations in Europe, North America and Asia, Coastal Contacts is building a predictable recurring revenue stream in the contact lens segment. The Company is also expanding its offering by developing complementary branded vision care products. Already ranked number one in most of its markets, Coastal is rapidly advancing toward its goal of becoming the dominant global vision care supplier.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Coastal Contacts Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, limited suppliers, inventory risk, disruption in our distribution facilities, foreign exchange fluctuations, regulatory requirements, demand for contact lenses, competition and dependence on the internet. These risks, as well as others, could cause actual results and events to vary significantly. Coastal Contacts does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

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