MONROVIA, Calif., July 11 /PRNewswire-FirstCall/ -- STAAR Surgical Company (Nasdaq: STAA) today announced that it has received repayment of notes and loan obligations of a former officer and director of the Company totaling approximately $2.3 million.

Under the current management team, STAAR has successfully recouped approximately $5.2 million of the total $7.2 million in outstanding loans and notes owed to the Company.

"We are pleased with our progress as we aggressively pursue the collection of all loans to former officers," said David Bailey, president and CEO. "This repayment coupled with the one received in April have significantly strengthened our financial platform and will help support various strategic initiatives, including the potential launch of our ICL(TM), which is our most significant opportunity for near-term growth."

About STAAR Surgical

STAAR Surgical is a leader in the development, manufacture and marketing of minimally invasive ophthalmic products employing proprietary technologies. STAAR's products are used by ophthalmic surgeons and include the revolutionary Implantable Contact Lens, as well as innovative products designed to improve patient outcomes for cataracts and glaucoma.

Safe Harbor Statement

All statements in this press release that are not statements of historical fact are forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the need to obtain regulatory approval for new products, acceptance of new products by medical practitioners and consumers, the rapid pace of technological change in the ophthalmic industry, general domestic and international economic conditions, and other factors beyond the control of STAAR Surgical Company, including those detailed from time to time in STAAR Surgical Company's reports filed with the Securities and Exchange Commission. STAAR Surgical Company assumes no obligation and does not intend to update these forward-looking statements.

CONTACT: investors, Douglas Sherk, +1-415-659-2285, or Jennifer Cohn, +1-415-659-2289, or media, Sheryl Seapy, +1-415-272-3323, all of EVC Group.

SOURCE  STAAR Surgical Company
    -0-                             07/11/2003
    /CONTACT:  investors, Douglas Sherk, +1-415-659-2285, or Jennifer Cohn,
+1-415-659-2289, or media, Sheryl Seapy, +1-415-272-3323, all of EVC Group/
    /Web site:  http://www.staar.com /
    (STAA)

CO:  STAAR Surgical Company
ST:  California
IN:  MTC HEA
SU:  FNC



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