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Updated: July 8th, 2008 05:26 PM CDT

Shamir Optical Announces Formation of New Company In France

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Safe Harbor Statement

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, anysecurities described herein in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under thesecurities laws of any such state.

Statements concerning Shamir's business outlook or future economicperformance; product introductions and plans and objectives related there to;and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, butare not limited to: the effect of global economic conditions in general andconditions in Shamir's industry and target markets in particular; shifts in supply and demand; market acceptance of new products and continuing products' demand; the impact of competitive products and pricing on Shamir's and its customers' products and markets; timely product and technologydevelopment/upgrades and the ability to manage changes in market conditions asneeded; possible business disruptions from acquisitions; and other factors detailed in Shamir's filings with the Securities and Exchange Commission. Shamir assumes no obligation to update the information in this release.

SOURCE Shamir Optical Industry Ltd


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