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Biotech / Medical : VISN - Sight Resources -- Ignore unavailable to you. Want to Upgrade?

To: Don Hand who wrote (56)	1/25/1999 9:30:00 AM
From: Ram Seetharaman	Read Replies (1) \| Respond to of 103

Sullivan seems to be buying. Stock performance is lackluster however. Monday January 25, 8:18 am Eastern Time, Company Press Release Sight Resource Acquires a Second Retail Optical Chain in Ohio and Pennsylvania. Company Now Owns Six Optical Chains With 102 Retail Eye Care Centers HOLLISTON, Mass.--(BW HealthWire)--Jan. 25, 1999-- Sight Resource Corporation (NASDAQ: VISN - news), a leading provider of primary eye care services and managed vision care programs, today announced that it has acquired Shawnee Optical, a privately-held primary eye care chain with operations in central Ohio and western Pennsylvania. This is the sixth retail optical chain that Sight Resource has acquired and the second chain in Ohio and western Pennsylvania. Terms of the transaction were not disclosed. Established in 1977, Shawnee Optical operates nine eye care centers with total annualized revenues of approximately $4 million. Robert U. Leonardi, one of the previous owners of Shawnee Optical, will assume the position of Vice President and General Manager of both Shawnee Optical and E.B. Brown Opticians, the other Sight Resource chain located in Ohio and western Pennsylvania. William T. Sullivan, President and Chief Executive Officer of Sight Resource Corporation, said, ''Shawnee Optical, the latest profitable addition to our growing company, enhances our presence in Ohio and western Pennsylvania and nicely complements E. B. Brown, our 37-center retail eye care chain, which also operates in this region. We believe that the close geographic proximity of these two chains will create valuable synergies for Sight Resource. Both chains are well established in their markets, and Robert Leonardi has the expertise and understanding of the region to help us assure that they continue to maintain this strength.'' Sight Resource provides a complete range of primary eye care products and services through its primary eye care centers, managed care programs, laser vision correction centers and integrated networks of opticians, optometrists and ophthalmologists. The Company's wholly-owned subsidiaries include Cambridge Eye Doctors in Massachusetts and New Hampshire, E.B. Brown Opticians in Ohio and Pennsylvania, Eyeglass Emporium in Indiana, Vision Plaza in Louisiana and Mississippi, Vision World in Rhode Island, and now Shawnee Optical in Ohio and Pennsylvania. ''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements contained in this news release which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and additional factors affecting the Company's business are described in the Company's Form 10-K for the fiscal year ended December 31, 1997 filed with the Securities and Exchange Commission. Contact: Sight Resource Nils Bonde-Henriksen, 508-429-6916 Manager of Corporate Communications