WaveLight, Inc. Announces 10 Years of Innovation and Success; More Than $100 M in Revenues Achieved Since WaveLight's Inception.

STERLING, Va. -- WaveLight, Inc., (FSX:WLT) a subsidiary of WaveLight AG, today celebrated the company's ten-year anniversary as a leading ophthalmic medical device manufacturer of laser systems for the ophthalmology and aesthetic industries. During the past decade, WaveLight has achieved a market capitalization of more than 100 million dollars (EUR 80 million) while establishing successful subsidiaries in the US, Spain and France. WaveLight employs 350 people worldwide and is continuing its expansion in the US and Asia.

WaveLight was founded in 1996 by Max Reindl and the company completed its IPO just three years later. Working with Prof. Theo Seiler and his team of engineers, WaveLight developed the Wavefront Optimized(TM) ALLEGRETTO WAVE(R), a high-speed, flying spot excimer laser designed to maintain the natural aspheric shape of the cornea following refractive surgery.

The ALLEGRETTO WAVE was approved by the FDA in October 2003 and more than 100 systems are currently installed in the U.S. with 650 systems available worldwide. WaveLight was the first European manufacturer to achieve approval for a refractive laser system and the system was granted the widest approval ranges to date. In May 2006, the FDA granted an additional approval for treatment of mixed astigmatism with the ALLEGRETTO WAVE.

"WaveLight's goal from the beginning has been to pioneer the most innovative and advanced technology for optimizing the optics in the eye," stated Max Reindl, founder of WaveLight AG. "The ALLEGRETTO WAVE

is designed to protect quality of vision while also providing a new level of safety for physician and patient."

WaveLight has brought several additional ophthalmic innovations to market internationally. In 1999, the first wavefront-guided procedure was performed on an ALLEGRETTO WAVE excimer laser and this has become the leading wavefront-guided system used by ophthalmologists worldwide. In 2002, WaveLight introduced the first operative topography-guided system for treating eyes that have been significantly damaged due to previous LASIK and PRK interventions. In 2003, WaveLight introduced the first asphericity-guided LASIK system that customizes the individual's corneal shape during treatment. Also in 2003, WaveLight introduced the first 500 Hz excimer laser platform.

In the U.S., WaveLight's wavefront-guided clinical trial has been completed and data are currently being reviewed by the FDA. The topography-guided clinical study is expected to commence shortly.

WaveLight announced earlier this year that the company plans to dedicate all its resources to the ophthalmic market segment. As a result, the company spun-off its aesthetic division in April 2006, which is now a fully owned subsidiary of WaveLight Aesthetic GmbH under the leadership of Dr. Stephan Schulze. WaveLight is also in the process of parting from its industrial and urology divisions.

"Devoting all our efforts to ophthalmology further strengthens WaveLight's position as a strong player not only in the field of refractive laser surgery, but in other areas aimed at improving the optics of the eye for the anterior segment." Reindl added. "Our research and engineering assets are addressing new technologies, as shown by our introduction of microkeratomes and intraocular lenses in our European markets."

WaveLight AG (ISIN DE 000 512 5603)

WaveLight AG, listed in Deutsche Borse AG's Prime Standard since January 2003, develops, produces, and markets a high-quality, end-to-end product portfolio in the fields of ophthalmology and aesthetics. WaveLight's market success is based on its innovative range of products that are the technology leaders in their areas of application and its broad-based sales network featuring both own sales channels and strategic partners. In the past fiscal year 2004/2005, WaveLight generated revenues of EUR 80.7 million and EBIT of EUR 8.8 million. Its average growth rate (CAGR) since 2000/2001 amounts to 35 percent for revenues and 63 percent for EBIT.

Further information on WaveLight is available at: www.wavelight.com

All information is given and all assessments are made on the basis of extremely conscientious research. However, no guarantee is given with regard to the information or assessments published. No liability whatsoever is accepted. The above statements do not represent an invitation to buy or sell securities. All rights reserved.

Disclaimer for Mixed Astigmatism:

    a.  Approval of the premarket approval application is for the
        WaveLight ALLEGRETTO WAVE(TM) Excimer Laser System to perform
        LASIK treatments in patients 21 years of age or older for the
        reduction or elimination of naturally occurring mixed
        astigmatism of up to 6.00 D at the spectacle plane; and in
        patients with documentation of a stable manifest refraction
        defined as less than or equal to 0.50 D of preoperative
        spherical equivalent shift over one year prior to surgery.

    b.  LASIK is an elective procedure with the alternatives including
        but not limited to eyeglasses, contact lenses, photorefractive
        keratectomy (PRK), and other refractive surgeries.

    c.  Approval of the application is based on clinical trials in the
        United States with 162 eyes treated, of which 111 were
        eligible to be followed at 6 months. Accountability at 1 month
        was 99.4%, at 3 months was 96.0%, and at 6 months was 100.0%.

    d.  The studies found that of the 142 eyes eligible for the
        uncorrected visual acuity (UCVA) analysis of effectiveness at
        the 3-month stability time point, 95.8% achieved acuity of
        20/40 or better, and 67.6% achieved acuity of 20/20 or better
        without spectacles or contact lenses.

    e.  The clinical trials showed that the following subjective
        patient adverse events were reports as "moderate to severe" at
        a level at least 1% higher than baseline of the subjects at 3
        months post-treatment: sensitivity to light (43.3% at baseline
        versus 52.9% at 3 months); visual fluctuations (32.1% at
        baseline versus 43.0% at 3 months); and halos (37.0% at
        baseline versus 42.3% at 3 months).

    f.  Long term risks of LASIK for mixed astigmatism beyond 6 months
        have not been studied.

    g.  The safety and effectiveness of LASIK surgery has ONLY been
        established with an optical zone of 6.0 - 7.0 mm and an
        ablation zone of 9.0 mm.

    h.  Note that the complete name for this ophthalmic laser is
        "WaveLight ALLEGRETTO WAVE(TM) Excimer Laser System for laser
        assisted in-situ keratomileusis (LASIK) treatments of
        naturally occurring mixed astigmatism of up to 6.00 D at the
        spectacle plane.