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MENTOR REACHES AGREEMENT IN PL?E TO

 SANTA BARBARA, Calif., April 14 /PRNewswire/ -- Mentor Corp. (NASDAQ: MNTR) today announced that it has reached an agreement in principle with the Federal Multi-District Litigation Plaintiffs Steering Committee which would settle all its outstanding breast implant litigation. The agreement would establish a fund of $24 million. Distribution of the funds is to be determined by the court. As a condition of settlement, Mentor has also agreed to cease marketing silicone-gel breast implants within 18 months after the closing of the settlement.
 Payments to the fund are to be made over the next four years. The company stated that it expects a portion of the settlement to be paid by its insurance carriers. The agreement is subject to approval by the Federal Court.
 Mentor Corp. is currently the only manufacturer of silicone breast implants remaining in the United States market. The company distributes implants for post-mastectomy breast rt?ruction under an agreement with the United States Food and Drug Administration. The company reported that it is developing an alternative filler material to replace silicone gel products.
 As a result of the settlement, Mentor expects to incur a one-time charge in the fourth quarter of its fiscal year which ended March 31, 1993. Mentor estimates this charge will be in the range of $1.15 to $1.30 per share.
 Christopher J. Conway, chairman and chief executive officer, stated, "The company denies any wrongdoing or legal liability of any kind. We have settled in order to avoid the costs and risks associated with this type of litigation.
 "We believe this settlement is in the best interests of the company," stated Conway, "it will allow Mentor to move beyond this controversy and concentrate on the future."
 Mentor Corp. produces medical and surgical devices for the specialties of urology, plastic surgery and ophthalmology.
 -0- 4/14/93
 /CONTACT: Christopher J. Conway, chairman of Mentor, 805-681-6000/
 (MNTR)


CO: Mentor Corp. ST: California IN: MTC SU:

EH -- LA025 -- 0727 04/14/93 16:51 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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