PhotoMedex CEO Jeffrey O'Donnell Named LifeSciences CEO Of The Year

PHILADELPHIA, Nov. 3 /PRNewswire-FirstCall/ -- Jeffrey O'Donnell, Chief Executive Officer of PhotoMedex, Inc. , was named LifeSciences CEO of the Year by the Eastern Technology Council at its 13th Annual Enterprise Awards ceremony held November 1 at the Kimmel Center in Philadelphia, PA. Mr. O'Donnell was selected from CEO nominees in Greater Philadelphia & Central-Eastern Pennsylvania by a panel of judges comprised of local community and business leaders. The criteria for selection was companies with at least three years of operating results in industry segments such as specialty pharmaceuticals, biotechnology, or medical device/ instrumentation. Key considerations included demonstration of a proprietary product or research development and its potential impact on the market; the ability to raise capital, generate revenue, and commercialize and strategize to enter into a substantive strategic alliance; and the Company's development strategy and clinical pathway to development.

Rob McCord, Chairman of the Eastern Technology Council and Managing Director of PA Early Stage said, "The Council was delighted to present this award to Jeff O'Donnell. In a field of highly accomplished CEOs, Jeff's background and business acumen stood out. His record of success and that of the PhotoMedex organization truly embody the criteria we set forth in order to distinguish one CEO among those nominated to receive this award. Jeff O'Donnell is an excellent example of how an individual can positively impact an organization, its employees and his community."

Mr. O'Donnell has a history of successful entrepreneurial endeavors. He has mostly focused on the medical industry and has been instrumental in starting nine medical device companies. He has a proven track record of developing the potential of start-up organizations, stabilizing them, and then taking them public or selling them to larger healthcare companies. Most recently, Mr. O'Donnell has led the transformation of Laser Photonics, a failing company, into PhotoMedex, a focused dermatology and surgical services company that has combined superior technology with a unique business model. Mr. O'Donnell is credited with divesting the non-strategic assets, and focusing PhotoMedex on its core technology. To accomplish this, he spearheaded the raising of $52 million to develop the technology, recruited an effective sales and marketing organization to promote it, and is actively creating a favorable healthcare reimbursement environment for this specific procedure. In 2003, Mr. O'Donnell pulled Surgical Laser Technologies, a synergistic organization, under the PhotoMedex umbrella to further enhance and expand the company's infrastructure and standing in the medical device industry. In March of 2005, PhotoMedex acquired ProCyte Corporation which sells science-based skin care products to be dispensed by dermatologists, plastic surgeons, and other physicians. This acquisition added a national sales force and needed capital to the Company.

Jeff O'Donnell, President and CEO of PhotoMedex, credits the staunch dedication and persistence of the PhotoMedex employees and its Board of Directors for the company's success. He said, "All of our employees have pulled together to make this company a success and the Board of Directors have worked closely with the management team to ensure that progress continues over the long run. Our reimbursement team continues to do a wonderful job in getting recognition and acceptance for the XTRAC by the major insurance carriers, and with each success, we get that much closer to our goals. Our manufacturing, research and development teams continue to push the envelope to make sure that we stay ahead of the technology curve and our marketing and sales teams continue to build brand recognition and market share. This is a proud day for me personally, but every single employee at PhotoMedex has a stake in this award and they deserve to be congratulated."

About the Eastern Technology Council

The Technology Council serves leaders of technology-oriented companies by providing valuable contacts, capital, and information with a broad variety of events, publications, and innovative services.

About PhotoMedex, Inc.

PhotoMedex provides contract medical procedures to hospitals, surgi- centers and doctors' offices, offering a wide range of products and services across multiple specialty areas, including dermatology, urology, gynecology, orthopedics, and other surgical specialties. The company is a leader in the development, manufacturing and marketing of medical laser products and services.

SAFE HARBOR STATEMENT

Some portions of the press release, will contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While PhotoMedex is working to achieve those goals, actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including difficulties in marketing its products and services, need for capital, competition from other companies and other factors, any of which could have an adverse effect on the business plans of PhotoMedex, its reputation in the industry or its results. In light of significant uncertainties inherent in forward-looking statements included herein, the inclusion of such information in the press release should not be regarded as a representation by PhotoMedex or its subsidiaries that the forward looking statements will be achieved.

Contacts: Allen & Caron PhotoMedex, Inc. Matt Clawson (investors) Dennis McGrath, CFO 949-474-4300 215-619-3287 matt@allencaron.cominfo@photomedex.com

CONTACT: Investors, Matt Clawson of Allen & Caron, +1-949-474-4300,matt@allencaron.com, for PhotoMedex, Inc.; or Dennis McGrath, CFO ofPhotoMedex, Inc., +1-215-619-3287, info@photomedex.com

Web site: http://www.photomedex.com/