OccuLogix, Inc.
NASDAQ : RHEO
TSX : RHE

OccuLogix, Inc.

October 14, 2005 17:15 ET

OccuLogix, Inc.: Options Grant to Steve Parks, Vice President, Sales

TORONTO, ONTARIO--(CCNMatthews - Oct. 14, 2005) - OccuLogix, Inc. (TSX:RHE)(NASDAQ:RHEO) today announced that it has granted 300,000 options to Steve Parks in connection with his appointment as Vice President, Sales which had been announced on October 11, 2005. Each of these options, upon becoming exercisable, will entitle Mr. Parks to purchase one common share of the Company at a price of U.S.$6.28 each.

200,000 of the options granted will become exercisable as to one-third on October 4, 2006, as to one-third on October 4, 2007 and as to one-third on October 4, 2008, and they will expire on October 4, 2015. 100,000 options will become exercisable only upon the Company achieving a minimum of U.S.$250,000,000 of aggregate net sales over four consecutive fiscal quarters occurring prior to January 1, 2011. Those 100,000 options will expire on January 1, 2011 if the vesting condition is not met and on October 4, 2015 if the vesting condition is met.

About OccuLogix, Inc.

OccuLogix is a health care company that brings innovative and evidenced-based medical therapies to market. OccuLogix's common shares trade on the NASDAQ National Market under the symbol 'RHEO' and on the Toronto Stock Exchange under the symbol 'RHE'. Visit us on the internet at www.occulogix.com (corporate) and www.rheo.com (healthcare professionals, patients and caregivers).

Forward-Looking Statements

This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about the company. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian regulatory authorities, including our Registration Statement on Form S-1. We do not undertake to update any forward-looking statements.

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