Coastal Contacts Inc.

Coastal Contacts Inc.

August 15, 2007 09:00 ET

Coastal Contacts Launches Healthy Eyes Multi Purpose Contact Lens Solution

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2007) -


Coastal Contacts Inc. (TSX:COA) announced today that it has launched its own private label Healthy Eyes Multi Purpose Solution for soft contact lenses.

Healthy Eyes Multi Purpose Solution is an advanced, natural formula that can be used to clean, disinfect, rinse, store, rewet and remove protein deposits from soft contact lenses. The product has been designed as a "rub and rinse" solution, which is acknowledged as the most effective method of removing protein deposits from soft contact lenses. Healthy Eyes Multi Purpose Solution has been approved by the United States Food and Drug Administration for sale in the United States, and it holds a CE mark which allows it to be sold in Europe.

The global market for contact lens solutions is estimated at over $1.6 billion annually. Recent product recalls by some of the leading lens solution manufacturers have created a market eager for a solution that is more natural, easy to use and effective.

In addition to launching Healthy Eyes Multi Purpose Solution, the Company recently began including a free replacement contact lens case in each order of extended wear contact lenses, to encourage proper contact lens care. In order to reduce the risk of infection, most eye care physicians advise patients to replace their contact lens cases every three months. Coastal encourages contact lens wearers to follow care procedures provided by the manufacturers and to visit their Eye Care Practitioner on a regular basis.

"We are excited to be launching our private label multi purpose solution under our Healthy Eyes brand," stated Roger Hardy, Coastal Contacts' President and CEO. "Initially we will market the solution to our growing contact lens customer base of more than two million customers, focusing on its natural formulation, proper eye care protocols and our ability to provide "one-stop shopping" to our customers. This type of product bundling is expected to increase both order size and gross margins across all of our geographic markets."

Mr. Hardy continued, "This product launch is the first of several that we plan to announce in the next twelve months with the goal of further monetizing our existing customer database by providing them with a significantly expanded product offering. We are pleased with the ability of our product development group to bring the Healthy Eyes Multi Purpose Solution to market in a timely manner. We are also excited by the strong sales results and immediate interest from our customers."

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 in the contact lens segment and is developing complementary branded vision care products. 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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