Coastal Contacts Inc.

Coastal Contacts Inc.

March 06, 2007 09:00 ET

Coastal Contacts to Open Toronto Stock Exchange March 15, 2007

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 6, 2007) -


Coastal Contacts Inc. (TSX:COA) announced today that Roger Hardy, President and Chief Executive Officer has been invited to open the Toronto Stock Exchange (TSX) on Thursday March 15, 2007.

"Being invited to open Canada's premier exchange is a great honor for me and the entire Coastal team," stated Roger Hardy, Coastal's President and Chief Executive Officer. "Our rapid revenue growth of more than 400% since our Initial Public Offering (IPO) in 2004 was partly due to the equity capital we were able to attract through the TSX and TSX-V. With 2006 revenues over $81 million, a strong balance sheet and a footprint in substantially every major global market for contact lenses, we are well positioned for continued growth."

Joining Mr. Hardy at the TSX ceremony will be Murray McBride, Director, Steve Bochen, Chief Operating Officer, Glen Kayll, Vice President, International Operations and Terry Vanderkruyk, Vice President, Corporate Development.

About the TSX:

As Canada's senior equities market, TSX provides an efficient, liquid market for a broad cross-section of Canadian issuers. TSX assists about 1,500 issuers through services designed to increase retail and institutional investors.

About Coastal Contacts:

Coastal Contacts is the world's fastest-growing vision care supplier. Leveraging its world class operations in Europe, North America and Asia, Coastal is building a predictable recurring revenue stream. Coastal shipped approximately 870,000 orders in 2006, of which 56% were reorders, by consistently providing customers with a comprehensive product line, savings and convenience. Already No.1 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.

Neither the TSX nor any other regulatory body has reviewed and therefore does not accept responsibility for the adequacy or accuracy of this release.

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