TORONTO, ONTARIO--(Marketwire - July 21, 2008) - OccuLogix, Inc. (NASDAQ: OCCX)(TSX: OC) announced today that it has filed restated unaudited consolidated financial statements for the quarter ended March 31, 2008 and restated audited consolidated financial statements for the financial years ended December 31, 2007 and December 31, 2006. The Company issued a press release on June 18, 2008 announcing its intention to restate certain of its financial statements. The Company does not intend to file its unaudited consolidated financial statements for any of the first three quarters of the financial year ended December 31, 2007. The restatements were made in order to correct the manner in which OccuLogix has been consolidating OcuSense since November 30, 2006, the date on which OccuLogix acquired its majority ownership interest in OcuSense which consists of voting preferred stock. As anticipated by the Company, the restatements did not result in a decline to total assets in any of the periods restated.
