ST. LOUIS, MISSOURI -- (MARKET WIRE) -- May 14, 2007 -- TLC Vision Corporation (TSX: TLC)(NASDAQ: TLCV), North America's premier eye care services company, today announced that a circular containing full details of its previously announced repurchase of up to 20 million common shares will be mailed to shareholders on or about May 15, 2007. The repurchase is being conducted pursuant to a modified "Dutch auction" tender procedure which allows shareholders to select the price, within the specified range, at which each shareholder is willing to sell all or a portion of his or her shares. Upon expiration of the offer, the Company will select the lowest purchase price that will allow it to buy 20 million of its outstanding shares. Shares tendered at or below such purchase price will be purchased at the purchase price, subject to proration to the extent that more than 20 million shares have been tendered at or below the purchase price. The circular will contain a description of the procedures for tendering common shares. The offer, which is subject to regulatory approval, will expire at 5:00 p.m. Eastern Time on June 20, 2007, unless extended by the Company.
