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Coastal Contacts Inc.: Coastal Contacts Explores European Dual Listing

^{Published on 2009-09-24 09:23:22, Last Modified on 2009-11-02 11:44:12 - Market Wire}
 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2009) - Coastal Contacts Inc. (TSX:COA) the leading online retailer of contact lenses and prescription eyeglasses today announced that it is exploring a dual listing of its common shares on the NASDAQ OMX Stockholm exchange. The Company believes that the potential significant increase in market exposure and distribution of its shares complements the continued strong presence of its wholly owned Lensway operations in Europe.

"Coastal Contacts has become one of the most recognized vision products companies in northern Europe," stated Mr. Roger Hardy, Coastal's President and CEO. "A NASDAQ OMX listing would provide an avenue for European investors to more easily participate in Coastal's growing story and continuing successes, while potentially enhancing the liquidity of our stock. We want to provide access to more investors, funds and institutions who share our passion for our business."

After recently completing a screening evaluation of several quality firms, Coastal has engaged E. Ohman J:or Fondkommission AB, an established and reputable Swedish investment bank, to investigate the possibility and attractiveness of the dual listing.

About Coastal Contacts Inc.:

Coastal Contacts Inc. ([ www.coastalcontacts.com ]) is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses. The Company's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As new markets for eyeglasses and contact lenses evolve, the Company is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service. A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store".

Forward Looking Statements

All statements made in this news release, other than statements of historical fact, are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should", "likely", "potential", "continue", "project", "forecast", "prospects", and similar expressions typically are used to identify forward-looking statements. Examples of such forward looking statements within this document include statements relating to listing on the NASDAQ OMX Stockholm exchange.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying our expectations regarding forward-looking statements or information contained in this news release include, among others: that we are positioning ourselves appropriately to take advantage of trends; that our customer database presents an opportunity for expanding our business; that we will be successful in implementing our strategy; that we will be able to generate and maintain sufficient cash flows to support our operations; that we will be successful in responding to challenges resulting from current economic conditions; and that current economic conditions will result in consumers seeking lower cost alternatives in our industry from which we will benefit. The foregoing list of assumptions is not exhaustive.

Persons reading this news release are cautioned that forward-looking statements or information are only predictions, and that our actual future results or performance may be materially different due to a number of factors. These factors include, but are not limited to: changes in the market; downturns in economic conditions; consumer credit risk; our ability to implement our business strategies; competition; limited suppliers; inventory risk; disruption in our distribution facilities; mergers and acquisitions; foreign currency exchange rate fluctuations; regulatory requirements; demand for contact lenses and related vision care products; competition; and dependence on the internet and other risks detailed in our filings with the Canadian securities regulatory authorities. Reference should be made to the section entitled "Risk Factors" contained in our most recently filed Annual Information Form dated January 29, 2009, for a detailed description of the risks and uncertainties relating to our business. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These forward-looking statements are made as of the date of this news release and we expressly disclaim any intent or obligation to update these forward-looking statements, unless we specifically state otherwise and except as required by applicable law.