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To: James Strauss who wrote (1835)	6/8/1998 11:35:00 AM
From: James Strauss	Respond to of 13094

BEAM Taking Off Today... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Summit and VISX Sign Comprehensive Settlement Agreement Pillar Point Partners Dissolved WALTHAM, Mass.--(BW HealthWire)--June 8, 1998--Summit Technology, Inc. (NASDAQ NM Symbol:BEAM - news) and VISX, Incorporated (NASDAQ NM Symbol:VISX - news) announced today that they have signed a definitive settlement agreement and resolved all differences between the two companies. Both parties have agreed to dissolve Pillar Point Partners and end all pending disputes and litigation between the two companies. Each party will retain all rights to license other manufacturers to their own patents. VISX and Summit have also granted each other a worldwide, royalty free cross license. Each party will have full rights to license their laser system users to all patents owned by either company relating to laser ablation of corneal tissue including all patents presently included, or includable, in Pillar Point. Under the settlement agreement, VISX has agreed to pay Summit a total of $35 million. ''I am pleased that the resolution of these issues has been achieved in a rational and fair manner,'' stated Robert J. Palmisano, Chief Executive Officer of Summit. ''We now enter a new era in which we will focus one hundred percent of our efforts on growing the already expanding market of consumers who will benefit from laser vision correction,'' continued Palmisano. ''The formation of Pillar Point Partners in 1992 was critical in enabling VISX and Summit to bring laser vision correction to its current status as a safe and effective alternative to glasses and contact lenses,'' commented Mark Logan, Chairman, President and CEO of VISX. ''Without Pillar Point there would not be the vital, dynamic new industry we see today. It is now time to move on to the next exciting stage in the development of this market,'' Mr. Logan added. Both companies believe this agreement is to their respective benefit and will allow each to focus their energies on the development of the laser vision correction industry. Cautionary Statement Under ''Safe Harbor'' Provision of The Private Securities Litigation Reform Act of 1995: Statements made in this news release contain information about the Company's future business prospects. These statements may be considered ''forward looking''. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. For further information regarding cautionary statements and factors affecting future operating results, please refer to Summit's Annual Report and Form 10-K for the year ended December 31, 1997 or VISX's Annual Report and Form 10-K for the year endedDecember 31, 1997. Contact: VISX, Incorporated Lola Wood, 408/773-7010 or Summit Technology, Inc. Kate Burnham, 781/672-0518 This is the beginning of a major breakout from a two year base... iqc.com Jim