THERATEARS® PROPELS ADVANCED VISION RESEARCH INTO INC 500 RANKING OF FASTEST GROWING PRIVATE COMPANIES IN AMERICA

WOBURN, MA.—November 4, 2002-- Advanced Vision Research, Inc. (AVR) has been named one of America’s entrepreneurial growth leaders by Inc magazine, which released its 2002 Inc 500 ranking of the nation’s fastest growing privately held companies.  The ranking appears in the magazine’s special Inc 500 issue, available at newsstands nationwide.

To earn this distinction, Advanced Vision Research, makers of TheraTears Lubricant Eye Drops, achieved a 657 percent growth in the past five years, with sales growing from $1.1 million in 1997 to $8.6 million in 2001. Under company founder, president and CEO Jeffrey P. Gilbard, M.D., the company has become a leader in the field of dry eye research and the development of major advances in the treatment of dry eye disease.

"We are delighted to be included in Inc magazine’s prestigious ranking," said Dr. Gilbard. "This is especially gratifying for us as it reinforces our philosophy that a combination of focus, teamwork and innovative products can yield stunning results.”

The company’s road to success began in 1995 with the introduction of TheraTears® Lubricant Eye Drops in preservative-free single-use containers. This patented formula was based on the results of Dr. Gilbard’s 18-year research program.  In March 2000, the bottled version of TheraTears, with a disappearing preservative was introduced.  The TheraTears brand has become one of the most widely recommended and successful products for dry-eye relief in the United States and as a result, retail distribution has grown rapidly. TheraTears is now available at every major drugstore, mass merchant and grocery chain nationwide.  Recently, the company has begun to expand internationally with the launch of TheraTears in Canada. 

In January 2003, two innovative products will join the TheraTears product family.  TheraTears® Liquid Gel, is the first preservative-free, electrolyte-balanced gel for dry eye patients. TheraTears Liquid Gel, incorporates the patented TheraTears electrolyte balance into a thicker formula with an optimized viscosity that provides comfort for both nighttime and daytime use.  TheraTears Nutrition for Dry EyesTM is a uniquely formulated supplement containing a patent-pending blend of Omega-3 essential fatty acids designed to decrease meibomitis, stimulate tear secretion and augment the oil layer of the tear film. TheraTears Nutrition for Dry Eyes breaks new ground by enabling eye care practitioners to provide systemic dry eye therapy for the first time. 

To be eligible for this year’s Inc 500, companies had to be independent and privately held through 2001, have at least $200,000 in sales in the base year of 1997, and their 2001 sales had to exceed 2000 sales.  Inc verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.

Advanced Vision Research is committed to eye research and the development of major advances in the treatment of eye disease.  Information on the company and its products may be obtained by contacting Advanced Vision Research at 781-932-8327, by fax at 781-935-5075 or by e-mail at info@theratears.com.  Information can also obtained by visiting the TheraTears website at www.theratears.com.

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©2002 Advanced Vision Research, Inc. 660 Main Street, Woburn, MA 01801 USA. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.