Bausch & Lomb Completes Acquisition of Groupe Chauvin, and Related European Pharmaceutical Companies, for Approximately $221 Million in Cash.

Business Editors

ROCHESTER, N.Y.--(BUSINESS WIRE)--August 8, 2000

-- Strategic acquisitions enable Bausch & Lomb to create one of

the leading full-line ophthalmic pharmaceutical companies in

Europe

-- Acquisitions strengthen company's global reach and add depth

to marketing, regulatory and clinical infrastructure

Bausch & Lomb (NYSE:BOL) has completed the previously announced acquisition of Groupe Chauvin, a European-based ophthalmic pharmaceuticals company headquartered in Montpellier, France, and several related companies, for a total of approximately $221 million (Fr. Francs 1.6 billion) in cash. The privately held companies combined have annual sales of nearly $100 million, employ nearly 800 people, and have operations in France, Germany, the U.K., Switzerland, the Benelux countries, and Portugal. These acquisitions make Bausch & Lomb one of the leading full-line ophthalmic pharmaceutical companies in Europe.

Bausch & Lomb said the acquisition will allow it to further expand its pharmaceuticals presence outside of the U.S. and Germany, and give it a framework to extend the distribution of its current ophthalmic products to a broader geographic base. In addition, the marketing, distribution, regulatory and clinical capabilities gained through the transaction will be attractive to new technology partners and will enable Bausch & Lomb to more rapidly commercialize in Europe innovative products now in development, including those that incorporate Envision TD(TM) technology for treating back-of-the-eye diseases.

Groupe Chauvin, one of the most respected names in the European ophthalmic pharmaceutical market, manufactures and markets prescription and over-the-counter ophthalmic pharmaceutical and surgical products to treat a number of eye conditions, including glaucoma, ocular inflammation, allergies, cataracts and dry eye.

Bausch & Lomb financed the acquisition through the use of cash reserves generated offshore. The acquisition is expected to be moderately dilutive to Bausch & Lomb's earnings results for the remainder of 2000, in the range of $.12 to $.14 per share; slightly dilutive to full-year 2001 earnings, approximately $.10 per share; and accretive thereafter, excluding one-time customary purchase accounting adjustments that may be recorded.

This news release contains among other things, certain statements of a forward-looking nature relating to future events or the future business performance of Bausch & Lomb. Such statements involve a number a risks and uncertainties including those concerning economic conditions, currency exchange rates, product development and introduction, the financial well-being of key customers, the successful execution of marketing strategies, the continued successful implementation of the restructuring effort in reducing costs and expenses of manufacturing processes and administrative functions, as well as the risk factors listed from time to time in the company's SEC filings.

Bausch & Lomb Incorporated is the preeminent global technology-based healthcare company for the eye, dedicated to helping consumers see, look and feel better through innovative technology and design. Its core businesses include soft and rigid gas permeable contact lenses, lens-care products, ophthalmic surgical and pharmaceutical products. The company is advantaged with some of the most respected brands in the world starting with its name, Bausch & Lomb(R), and including SofLens(TM), PureVision(TM), Boston(R), ReNu(R), Storz(R) and Technolas(TM). Founded in 1853 in Rochester, N.Y., where it continues to have its headquarters, the company has annual revenues of approximately $1.8 billion and employs approximately 12,000 people in more than 50 countries. Bausch & Lomb products are available in more than 100 countries around the world. Additional information about the company can be found on Bausch & Lomb's Worldwide Web site at http://www.bausch.com.