Barrack Rodos Files Suit Against Visx, Inc. and Certain of its Officers Alleging Misrepresentations and Insider Trading.

Business Editors/Legal Writers

PHILADELPHIA--(BUSINESS WIRE)--March 14, 2000

Counsel for Class Plaintiff, Barrack, Rodos & Bacine, today issued the following:

A class action has been commenced in the United States District Court for the Northern District of California on behalf of all persons who purchased the stock of Visx, Inc. (NASDAQ: VISX) ("Visx" or the "Company") between March 1, 1999 and February 22, 2000, inclusive (the "Class Period"). The complaint charges Visx and certain of its officers with violations of the federal securities laws by making false and misleading statements about the Company's business and revenue growth relating to its Excimer Laser Systems. The complaint alleges that during the Class Period, the individual defendants, who controlled and were senior officers of Visx, were aware that the Company's per procedure fee (and therefore its future revenues and earnings) was being severely threatened by competitors who did not charge the fee and that Visx was losing market share. The complaint charges that the individual defendants, with the knowledge that the Company's future results would not be as favorable as defendants had led the market to believe, sold 1.4 million shares of Visx stock, reaping insider trading proceeds of more than $96 million. According to the complaint, when the competitive pressures resulted in the Company announcing a drop in revenues and reduction in the Company's per procedure fee, the price of its stock plummeted to $16 per share from a class period high of over $103.

The plaintiff seeks to recover damages on behalf of all purchasers of Visx stock during the Class Period. Plaintiff is represented by the law firm of Barrack, Rodos & Bacine, which has extensive experience in prosecuting investor class actions involving financial fraud. Barrack, Rodos & Bacine has prosecuted securities, antitrust and consumer class actions for over 20 years. The firm has offices in Philadelphia, San Diego, New York, Boston and New Jersey and has been designated lead counsel by federal and state courts across the country in large, complex cases. For more information about Barrack, Rodos & Bacine, please visit its website at www.barrack.com.

If you are a member of the Class described above, you may, no later than April 25, 2000, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please contact: Maxine S. Goldman, Shareholder Relations Manager, at Barrack, Rodos & Bacine, 3300 Two Commerce Square, 2001 Market Street, Philadelphia, PA 19103, at 800/417-7305 or 215/963-0600, fax number 888/417-7306 or 215/963-0838, or by e-mail at [e-mail].