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PHOENIX LASER SYSTEMS RECEIVES APPROVAL FOR U.S. DEPARTMENT OF ENERGY FUNDING OF JOINT VENTURE WITH LAWRENCE LIVERMORE NATIONAL LABORATORY

 SAN FRANCISCO, Nov. 23 ~PRNewswire~ -- Phoenix Laser Systems, Inc. (AMEX: PXS), today announced that it had received notification from Lawrence Livermore National Laboratory that the United States Department of Energy has approved the funding of a joint venture proposal submitted by Phoenix and the Advanced X-Ray Optics Program of the Lawrence Livermore National Laboratory for the development of an advanced technology micro thin lens for ophthalmology. The micro thin lens would be designed as an intraocular lens to be implanted after cataract surgery and have many advantages over materials currently used for intraocular lenses. The lens could also be used as a contact lens or an intracorneal lens for correction of refractive problems. The Department of Energy could provide up to $6 million to fund this joint venture under its "matching program." With funding approved, Phoenix and Lawrence Livermore will now finalize the details of the joint venture through a Cooperative Research and Development Agreement (CRADA). Phoenix has a subsidiary engaged in the manufacture and sale of intraocular lenses.
 Joann Schulz, president of Phoenix said, "We are delighted to learn that funding of our joint venture between Phoenix and Lawrence Livermore National Laboratory has been approved by the U.S. Department of Energy under the National Technology Initiative Program. We feel that the Micro Thin Lens project has enormous potential in small incision cataract surgery and may also have significant advantages as a contact lens or refractive lens for the treatment of myopia, hyperopia and astigmatism. Because the lens is less than 0.2mm thick, it represents a new generation of lens product. Through this agreement, Phoenix has obtained the rights to the Livermore's patented technology and may develop the Micro Thin Lens technology for all medical applications."
 Phoenix Laser Systems, Inc. is a developer of integrated laser workstations primarily for use by the medical community. The company's initial efforts have been focused on the design, development and testing of its first product, the Phoenix Ophthalmic Laser Workstation. The company's technology permits surgery designed to correct nearsightedness, farsightedness, and astigmatism, as well as a large number of eye disorders which are untreatable or only partially treatable with current technology.
 -0- 11~23~92
 ~CONTACT: Jon Solow of Phoenix Laser Systems, 415-922-4061~
 (PXS)


CO: Phoenix Laser Systems, Inc. ST: California IN: SU: JVN

TS-SH -- NY016 -- 0380 11~23~92 10:16 EST
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Date:Nov 23, 1992
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