Norwood EyeCare Expands into Spain, Austria, Czech Republic, Slovakia and Taiwan.

MELBOURNE, Australia -- Norwood Abbey Limited (OTC:NABYF)(ASX:NAL):

Key Points:

--Norwood EyeCare appoints distributors for Spain, Austria, Czech Republic, Slovakia and Taiwan.

--New distribution partners are leading suppliers of eye surgery products

Norwood Abbey Limited (OTC:NABYF)(ASX:NAL) subsidiary, Norwood EyeCare, the innovative ophthalmic devices company advises that as part of the global expansion of its ophthalmic product line it has appointed distributors for its Centurion SES(TM) System with EpiEdge(TM) (disposable separator) in Spain, Austria, Czech Republic, Slovakia and Taiwan.

Ophthalmic surgeons from many of these territories attended recent tradeshows at which Norwood EyeCare exhibited the Epi-LASIK system. Norwood's distributor has placed an initial order for the Centurion SES(TM) System for immediate delivery for the purposes of customer evaluation and sales.

The European distributors appointed are responsible for territories within Europe that account for in excess of 200,000 procedures annually. Spain is the largest market in Europe with an average of 180,000 vision correction procedures annually. Taiwan is a smaller market with approximately 35,000 procedures annually.

As previously stated, Norwood EyeCare utilized very strict selection criteria for the ideal distributor profile including:

--Existing portfolio of complimentary refractive surgery products

--"Best in class" in sales, marketing and technical support

--Well-established, strong reputation within the clinical community

--Breadth of market coverage in the specific country/region

In 2003 the worldwide ophthalmology market was US$17.8 billion of which laser vision correction (LVC) is a key subset. As stated in an ophthalmic industry report, in recent years LVC has witnessed a resurgence based on an improved economy and the introduction of wavefront-guided technology procedures that have allowed physicians to customize or individualize a patient's treatment.

The Centurion SES(TM) system has an end-user price of between US$65,000 and US$100,000 and the EpiEdge(TM) disposable separator has a recommended price of US$75 per patient.

About Laser Vision Correction:

The most common vision correction surgery technique, called LASIK, has two stages. The first stage of preparing the eye for the laser procedure currently relies on a cutting device called a 'microkeratome' to create a stromal 'flap' on the surface of the eye, which is then peeled back. The second stage is the laser treatment to correct the patient's vision, which has been used for a number of years and is a widely accepted and proven technology. Finally, the stromal 'flap' is replaced. Industry statistics indicate that complications occur in a percentage of patients as a result of cutting the eye.

The next generation approach, Epi-LASIK treatment, uses the Centurion SES(TM) system and EpiEdge(TM) disposable separator, removing the need to cut the eye and hence eliminating associated complications. This unique instrument gently separates a thin layer of living cells, called the epithelium, on the outside of the eye, along a natural cleavage plane. The clinician then moves the epithelial sheet to one side, the laser corrects the vision and the epithelial sheet is then moved back into place with minimal surgical manipulation.

About Norwood EyeCare

Norwood EyeCare is a Norwood Abbey Limited Company. Norwood Abbey is a publicly listed medical technology company based in Melbourne, Australia and traded on both the Australian and the NASDAQ stock exchanges. For further information on Norwood EyeCare, visit www.norwoodeyecare.com. Norwood Abbey specializes in developing and commercializing innovative projects and technologies that address significant unmet needs in the medical industry. The Company has two business segments: Norwood Devices (EyeCare and Drug Delivery) and Norwood Immunology.

Norwood's Drug Delivery technology platforms can be applied to a range of potential applications, from pain management and metabolic diseases to vaccinations. Norwood Immunology is aimed at boosting the immune system of patients, enabling them to fight infection and better cope with treatments where the immune system is compromised. This technology has application in almost all diseases affecting the immune system, including cancer, viral infections and autoimmune disorders.