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Oculus Innovative Sciences, Inc. Announces Exercise of Underwriters' Over-Allotment Option.

PETALUMA, Calif. -- Oculus Innovative Sciences, Inc. (Nasdaq:OCLS) announced that the underwriters of the Company's recent initial public offering have exercised their over-allotment option granted by the Company to purchase 328,550 additional shares of common stock at the public offering price of $8.00 per share.

After giving effect to the exercise of the over-allotment option, the Company sold a total of 3,353,550 shares in the offering. As a result of the exercise of the over-allotment option, the Company received additional gross proceeds of approximately $2.6 million, which results in total gross proceeds from the initial public offering of approximately $26.8 million. All of the shares were sold by the Company.

Roth Capital Partners acted as book-running manager for this offering, and Maxim Group LLC and Brookstreet Securities Corporation acted as co-managers.

A Prospectus relating to these securities may be obtained from Roth Capital Partners, by mail at 24 Corporate Plaza Drive, Newport Beach, CA 92660, Attn: Lou Ellis, Capital Markets, by telephone at 800-990-2788.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 24, 2007. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Oculus

Oculus Innovative Sciences, Inc. is a medical technology company focused on the development, manufacture and marketing of a family of products intended to help prevent and treat infection in acute and chronic wounds. Oculus' products based on its Microcyn[R] Technology have received CE Mark, or European Union certification, for wound cleaning and reduction of microbial load, three U.S. FDA 510(k) clearances as a medical device in wound cleaning, lubricating, moistening and dressing, and have been granted additional approvals for specified uses in Canada, India and Mexico.

Oculus' principal operations are in Petaluma, California, and it conducts operations in Europe and Latin America through its wholly owned subsidiaries, Oculus Innovative Sciences Netherlands B.V. and Oculus Technologies of Mexico, S.A. de C.V. Oculus' website is www.oculusis.com.
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Publication:Business Wire
Date:Feb 20, 2007
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