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Eyecity.com Plans To Become First "Optical Services Provider" For The $55 Billion Eye Care Industry.

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PLAINVIEW, N.Y.--(BUSINESS WIRE)--April 19, 2000

Eyecity.com to Offer Internet Services Suite For Nations 100,000

Ophthalmologists, Optometrists, and Opticians

Eyecity.com, Inc. (OTC BB: ICTY) plans to build on it's Internet expertise to become the first Optical Service Provider (OSP), providing a suite of Internet services for eye care industry professionals desiring to take advantage of business opportunities on the Internet.

The Eyecity.com OSP initiative will provide the software, implementation, integration, Web hosting, maintenance, support and business partnerships to enable the more than 100,000 Ophthalmologists, Optometrists and Opticians (3 O's) to conduct business-to-business (B2B) e-commerce, plus business-to-business-to-consumer (B2B2C), trade exchanges, order management, practice management, auctions, job search and other business processes online.

Eyecity.com's OSP e-business solution will provide end to end systems for the 3 O's and eyecare industry with components ranging from B2B to B2B2C capabilities. The B2B model will consist of an electronic exchange connecting buyers and sellers as well as patient management software, electronic medical billing, accounting, and inventory management. Eyecity.com also plans to provide additional value-added services for the 3 O's and the eyecare industry such as hosting the Web site and offering ongoing production and maintenance and technical support. The B2B2C model will provide all the tools and systems necessary for the 3 O's to be successful in the B2B2C e-commerce markets, including: merchandise selection and sourcing, storefront creation, hosting, advertising, customer service, credit card processing, and fulfillment services. Eyecity.com intends to implement the OSP initiative over the next several months.

"The 3 O's today are looking for an e-business provider who understands both the technology and marketing behind the Internet," said Mark Levin, President and Chief Executive Officer. "We allow the eye care industry to focus on their core expertise and leave the technological and e-business strategy to us."

Eye care represents one of the largest health care service and product markets in the U.S. According to industry sources, over 161 million people in the U.S. require vision correction. Spending for health care costs associated with eye and vision conditions is approximately $38.4 billion annually, while annual spending on retail optical products is an additional $15.8 billion, representing a total annual market of approximately $55 billion.

About Eyecity.com:

Eyecity.com is engaged in the online marketing, distribution and retail sale over the Internet of a broad range of eyewear products and optical accessories, including brand name sunglasses, contact lenses, binoculars, prescription eyewear, telescopes, sports and lifestyle eyewear, and hunting glasses. Eyecity.com operates a number of eyewear Web sites including Peepers.com, Eyeglassplace.com, Sunglasssite.com, Opticalsite.com, and Binoculars.com. The Company's Super site, eyecity.com, is anticipated to launch in April 2000. Eyecity.com intends to offer a combination of innovative technology, broad selection of name brands, informative content, real-time customer service and competitive prices. The Company has a license agreement with Yahoo! Inc. to market a Yahoo!-branded eyewear product collection. Eyecity.com is headquartered in Plainview, New York. For more information, please visit us on the Web at www.eyecity.com.

This press release contains certain forward looking statements, which may involve known and unknown material risks, uncertainties and other factors not under the Company's control including without limitation its ability to operate as a going concern, the need for additional financing, the impact of competition, the management of growth, compliance with applicable regulatory requirements, the Company's ability to implement its long term business plan for acquiring complementary businesses and the Company's ability to enter into agreements with marketing or distribution partners, which may cause actual results, performance and achievements of the Company to be materially different from the Company's expectations.
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Publication:Business Wire
Date:Apr 19, 2000
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