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OISI News Ophthalmic Imaging Systems Announces Record Second Quarter Results; Net Revenues Increases 22%; Net Income Climbs 32%; Company Reports 19th Consecutive Profitable Quarter

For the quarter ended June 30, 2006, OIS reported an increase in net revenues of 22% to $3,817,000, compared with net revenue of $3,124,000 for the same period of 2005. Net income for the second quarter of 2006 climbed 32% to $535,000 compared with net income of $406,000 for the second quarter of 2005.

For the first six months of 2006, the Company reported net revenues of $7,468,000 compared with net revenues of $6,119,000 for the first six months of 2005, an increase of 22%. Net income for the first six months of 2006 increased 38% to $1,020,000 compared with net income of $740,000 for the first six months of 2005.

Gil Allon, Chief Executive Officer of OIS, stated, "We are pleased by our continuing strong performance during the first half of the year. During the past two quarters, we have experienced robust growth resulting from our increased sales and marketing efforts, addressing large clients. In this period we entered several large contracts for our imaging and informatics offerings. These contracts have been with high-profile customers, including Kaiser Permanente and Henry Ford Health Systems. Our unique ability to meet the technological demands of such leading healthcare organizations strengthens our position as the leading provider of digital imaging systems and informatics solutions to the ophthalmology market."

"As we continue to build our business, we constantly seek new opportunities to expand our customer reach. Recently, we signed an agreement to be the exclusive provider of new Digital Imaging Systems, Ophthalmology PACS and other ophthalmic products to the International Vision Network, the only specialty group purchasing program for ophthalmologists' offices and ambulatory surgery centers. We are excited to have been selected to work with this elite group on a national basis and look forward to increasing our exposure among new and existing customers."

About Ophthalmic Imaging Systems

Ophthalmic Imaging Systems (www.oisi.com), a majority-owned subsidiary of MediVision, is the leading provider of ophthalmic digital imaging systems. The Company designs, develops, manufactures and markets digital imaging systems and informatics solutions for the eye care market. With over twenty years in the ophthalmic imaging business, the Company has consistently introduced new, innovative technology. The Company, together with MediVision, co-market and support their products through an extensive network of dealers, distributors, and direct representatives.

Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.

                      OPHTHALMIC IMAGING SYSTEMS
                        Selected Financial Data
                  Condensed Statements of Operations


                         Three Months Ended       Six Months Ended
                              June 30,                June 30,

                          2006        2005        2006        2005

NET REVENUES           $3,817,196  $3,123,505  $7,467,890  $6,118,775
COST OF SALES          $1,691,076  $1,352,439  $3,255,234  $2,640,699
                       ----------- ----------- ----------- -----------
GROSS PROFIT           $2,126,120  $1,771,066  $4,212,656  $3,478,076

 SALES AND MARKETING     $806,754    $718,022  $1,651,172  $1,478,880
 RESEARCH AND
  DEVELOPMENT            $396,341    $265,404    $762,248    $507,812
 GENERAL AND
  ADMINISTRATIVE         $401,866    $325,636    $768,901    $638,632
                       ----------- ----------- ----------- -----------
TOTAL OPERATING
 EXPENSES              $1,604,961  $1,309,062  $3,182,321  $2,625,324
                       ----------- ----------- ----------- -----------
INCOME FROM OPERATIONS   $521,159    $462,004  $1,030,335    $852,752
INTEREST AND OTHER
 EXPENSE, NET             $14,135    ($51,029)   ($10,165)  ($103,617)
                       ----------- ----------- ----------- -----------
NET INCOME BEFORE
  INCOME TAXES           $535,294    $410,975  $1,020,170    $749,135
 INCOME TAXES                         ($5,024)                ($9,024)
                       ----------- ----------- ----------- -----------
NET INCOME               $535,294    $405,951  $1,020,170    $740,111
                       =========== =========== =========== ===========

 BASIC NET INCOME PER
  SHARE                     $0.03       $0.03       $0.06       $0.05

 SHARES USED IN THE
  CALCULATION OF BASIC
  EARNINGS PER SHARE   16,087,041  15,071,607  15,988,102  15,056,374

 DILUTED NET INCOME PER
  SHARE                     $0.03       $0.03       $0.06       $0.05

 SHARES USED IN THE
  CALCULATION OF
  DILUTED EARNINGS PER
  SHARE                17,750,871  16,136,823  17,622,920  16,229,367