Agfa Signs an Agreement to Acquire a Minority Interest in MediVision Medical Imaging Ltd.

Business/High Tech Editors

MORTSEL, Belgium--(BUSINESS WIRE)--Sept. 26, 2001

Intended to Create an Alliance for Joint Development and Marketing

of an Integrated, Digital Ophthalmology PACS Solution

Agfa-Gevaert N.V. (Brussels stock exchange:AGFAt.BR/Frankfurt stock exchange:AGEG.FR) and MediVision - Medical Imaging Ltd. (EURO.NM:MEDV) announced today that they entered into an agreement pursuant to which Agfa is to acquire a minority interest in MediVision.

MediVision designs, develops, manufactures and markets digital imaging devices, including digital cameras, digital imaging software, and viewing stations, for ophthalmic applications, and is listed on the EuroNext in Brussels.

Pursuant to the Agreement Agfa is to invest up to 3.9 million Euro, in three installments, at a price of 2.10 Euro per share. This offers a considerable premium on the average share price of the past few months. The investment is to be accomplished via a capital increase. After the first investment, Agfa will hold approximately nine percent of MediVision; following the third and last investment, Agfa will own up to 25% of the share capital, assuming the investment is fully implemented. The first installment upon closing of this agreement will be 1.1 million Euro. The second and third installments will be implemented subject to achievement of performance-linked milestones during a period of approximately 12 months.

Under the terms of the Agreement, Agfa and MediVision will jointly develop, promote and market a combined, Integrated Digital Ophthalmology Picture Archive Communication System (PACS).

The Integrated Digital Ophthalmology PACS solution, the first such system to be introduced in the ophthalmic imaging field, is intended to be composed of Agfa's IMPAX viewing stations, archive and associated software and networking systems and MediVision's digital imaging systems and software solutions for ophthalmology. The marketing efforts under this global agreement are anticipated to be implemented beginning in the US market, together with OIS (Ophthalmic Imaging Systems Inc.), MediVision's American subsidiary.

"For ophthalmologic patients, as well as healthcare professionals practicing in the area of ophthalmology, the introduction of an ophthalmology PACS is exciting as it will bring about the same level of enhancements and efficiencies that we have seen digital solutions deliver in the area of radiology," said John Glass, General Manager, Medical Imaging, Agfa-Gevaert, N.V.

The acquisition of the interest in MediVision, and intent to work with the company on product development, is part of Agfa's strategy to move beyond radiology and expand into new areas of healthcare image and information management. Said Glass: "Our goal is to be able to offer our customers information management solutions to help manage all of their healthcare data, coming from a multitude of sources. Our alignment with MediVision and the development of the ophthalmology PACS will allow us to add a key element to our overall product offering, as well as enter an important and growing market."

For MediVision, the alliance is intended to allow expansion beyond its current customer base (composed primarily of ophthalmology clinics), and entrance into the emerging ophthalmology PACS market, with a strong partner and product. "By integrating the different pieces in the ophthalmology data stream, we will be providing customers with significant, new efficiencies, with an emphasis on improving the imaging, diagnosis and therapy work flow," said Noam Allon, CEO, MediVision. "We are pleased to be working with Agfa, known in the PACS world as a pioneer and leader, in the development and marketing of this exciting, integrated solution."

The consummation of the above transactions is subject to closing, after fulfillment of certain conditions precedent.

About Agfa

The Agfa Group headquartered in Mortsel, Belgium ranks among the world's leading imaging companies. Agfa develops, produces and markets analog and digital systems, primarily for the graphics industry, medical imaging, non-destructive testing, micrographics, motion picture film and consumer imaging and photography markets. Agfa employs about 22,000 people in 40 countries, and has 120 agents throughout the world. Together, they achieved a turnover of 5.260 million Euro in 2000. Product and company information can be found on Agfa's home page on the World Wide Web at: www.agfa.com.

About MediVision

MediVision specializes in digital imaging devices for ophthalmic applications with an emphasis on diagnostics related to the eye retina. MediVision's products provide digital upgrades for a range of ophthalmic imaging systems, thus significantly enhancing imaging capability and providing its users with advanced diagnostic tools. The company's goals are to achieve significant market share and be a market leader in the ophthalmic digital imaging field. Publicly held, MediVision achieved revenues of US$ 3.639 million in first six months of 2001. The company owns a 73% interest in Ophthalmic Imaging Systems Inc. based in Sacramento, California USA.

This Release contains certain forward-looking statements and information relating to the Company that are based on the beliefs of the Management of the Company as well as assumptions made by and information currently available to the Management of the Company. Such statements reflect the current views of the Company with respect to future events, the outcome of which is subject to certain risks and other factors which may be outside of the Company's control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results of outcomes may vary materially from those described herein as projected, anticipated, believed, estimated, expected or intended.