Lasik Vision Corporation: Variation Of Private Placement Terms, $2.5 Million Financing To Be A Secured Convertible Note.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 11, 2001

LasikVisionCorp (CDNX:LSK.CX)

The Company announced today that its Board of Directors had agreed to rescind the non-brokered private placement to Mr. John Porter, an outside director of 3,125,000 units at $0.80 per unit announced on December 5, 2000 and which was about to be completed.

The sum of $2,500,000 previously advanced by Mr. Porter will, subject to the approval by the Exchange, be represented by a Secured Convertible Note, repayable on January 10, 2003 to the extent not previously converted. Interest at the rate of 20% per annum, compounded monthly, will accrue and be payable at maturity on any portion of the Note not converted.

The Note will be convertible in whole or in part, at the holder's option at any time up to January 10, 2003, into Units, each Unit consisting of one common share and one share purchase warrant, at a price of $0.38 per Unit. Each warrant entitles the holder to purchase one common share at the price of $0.38 until January 10, 2003.

The principal balance outstanding under the Note and accrued but unpaid interest from time to time will be secured by a charge over all present and after-acquired property of the Company and its wholly-owned subsidiaries in Canada and the United States. The charge will rank equally with the Secured Convertible Notes to be issued to Mr. Porter as part of the $7.0 million financing announced on January 2, 2001 and will rank subsequent to all existing charges.

The Company has received the first tranche of $1.5 million, part of the $7.0 million private placement to Mr. Porter. Mr. Neville Fridge has been appointed as President and Chief Executive Officer, replacing Dr. Hugo Sutton who remains Chairman of the Board of Directors.

Based in Vancouver, B.C. Lasik Vision Corporation is Canada's largest operating laser vision refractive company. Additional information may be obtained through the Company's website at www.lasik-vision.com.

Statements and/or financial forecasts that are not historical are to be regarded as forward-looking statements, which are subject to risks and uncertainties and could cause actual results to differ materially. Such risks and uncertainties with respect to Lasik-Vision's business include but are not limited to: (i) general economic conditions, (ii) limited operating history, (iii) continued industry and public acceptance, (iv) regulatory compliance, (v) potential liability or malpractice claims, (vi) future capital requirements and uncertainty of additional funding and (vii) dependence on key personnel.

These forward statements should not be reprinted, reiterated nor considered an inducement for investment.

On behalf of the Board of Directors of LASIK VISION CORPORATION Hugo Sutton MD, Chairman of the Board

The Canadian Venture Exchange Has Not Reviewed And Does Not Accept Responsibility For The Adequacy Or Accuracy Of This Release.