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Exhibit 99.3
Staar Surgical's New CEO Asked to Convene Special Shareholders
Meeting by NovaStaar Investments, LLC
Bellaire, Texas, December 29, 2000/PR Newswire/--NovaStaar Investments, LLC,
Chairman and CEO, LaMar F. Laster, Jr., requested that Mr. David Bailey, the
newly appointed President and CEO of Staar Surgical Company (Nasdaq: STAA), call
a special shareholders meeting as is allowed under Staar Surgical's current By-
Laws.
Laster stated, "We believe a special shareholders meeting is warranted, given
recent disclosures. These include: apparent dissension at the board level,
alleged unauthorized forgiveness of major debts owed the company by officers and
directors, litigation claiming self dealing and conflicts of interest among
management and the board, and the alleged purposeful entanglement of the company
by management in major litigation with the Canon companies."
Continuing NovaStaar's Laster said, "We believe Mr. Bailey should want his
tenure at Staar to begin with a clear mandate from shareholders, with the
ability to move forward unencumbered by the old board, which is currently
besieged with litigation by both internal and external forces."
"We request that an alternate slate of directors, submitted by a committee of
shareholders, be nominated for consideration by all shareholders. Only then
will the newly elected directors be viewed as truly independent. The ultimate
authority, over how Staar Surgical is run, and who will run it in the future,
should rest in the hands of the shareholders."
About NovaStaar
NovaStaar Investments, LLC is a private company specifically formed in 1999 to
make a friendly tender offer for the control of Staar Surgical Company.
NovaStaar's 1999 offer of $15 per share was rebuffed by Staar. Beginning in
early 2000, NovaStaar principals were repeatedly approached by past and current
shareholders, directors, management, and employees of Staar. These concerned
parties wanted to determine our interest in helping to pursue the best long term
alternatives for all Staar Shareholders. NovaStaar is now attempting to carry
out normal due diligence through its request for information to Staar management
before making a determination of its ultimate level of interest.
Contact: Mr. LaMar F. Laster, Jr.
NovaStaar Investments, LLC
Phone: (713) 662-8561
Fax: (713) 662-8504
