[bc]OptiCast and LensFab Settle Out of Court[/bc]

(July 2002) OPTICAST has reached an out of court settlement with LensFab, a division of Optical Electroforming (OEF) of Clearwater, Florida over an intellectual suit filed last year. Details of this suit may not be discussed by either party. However, the outcome of the suit is that LensFab will no longer be in the casting to Rx business or furninshing supplies to this segment of the market. OEF will be focusing on their core business which has been mold making.

Recently it was announced that OEF was purchased by Sola Optical to make molds for their Oracle polycarbonate division in Providence, Rhode Island. OptiCast has been selling its intial system for 3 years for $31,500, and has recently introduced a smaller system for just $14,995. This system is geared for the 3 O's in the domestic and foreign markets.

OptiCast maintains a strong relationship with key foreign customers such as Boot's the Chemist, the largest pharmacy chain in the UK with over 300 optical departments in some 2000 stores, and the Devlyn Group, the largest chain in Mexico with over 450 stores and a wholesale distribution division of its business.