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Escalon(R) Medical Named One of Delaware Valley's Fastest Growing Technology Companies in Deloitte Technology Fast 50 Program
Monday September 27, 1:52 pm ET


WAYNE, Pa., Sept. 27 /PRNewswire-FirstCall/ -- Escalon Medical Corp. (Nasdaq: ESMC - News) today announced that it has been named to Deloitte's prestigious Technology Fast 50 Program for the Delaware Valley, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche LLP, one of the nation's leading professional services firms. Rankings are based on percentage of growth in fiscal year revenues over five years, from 1999-2003. PR Newswire is the official media partner for this year's Delaware Valley Technology Fast 50 Program.
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Escalon Medical Corp.'s CEO, Richard J. DePiano credits the Company's success with its strategy of focusing on niche markets, research and development-driven new product introductions, international expansion -- particularly in Asia and Europe, its investment in marketing support as well as the acquisitions of Sonomed and the vascular business.

"We are very pleased to be recognized by Deloitte & Touche," commented Mr. DePiano. "The strategic repositioning of the Company over the last several years has allowed us to strengthen our foundation and position us as a manufacturer and marketer of a variety of proprietary niche products. Our acquisitions of the Sonomed and vascular access businesses were key to this transition. As we complete our acquisition of Drew Scientific, we are excited to have another growth vehicle for the future."

The Company's increase in revenues of 77% over the five-year period of 1999 to 2003 resulted in a 44th place ranking overall in the Fast 50 for the Delaware Valley.

Michael J. Purcell, Partner Technology, Media and Telecommunications Practice commented, "In today's economy, double-digit percentage revenue growth is an exceptional accomplishment. We commend Escalon Medical for making the commitment to technology and delivering on the promise of market longevity. We are proud to honor Escalon Medical as Deloitte Technology Fast 50 winner."

To qualify for the Technology Fast 50,companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company "defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.

Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Deloitte Fast 50 or Fast 500 programs, visit http://www.fast500.com.

Founded in 1987, Escalon develops, markets and distributes ophthalmic diagnostic, surgical and pharmaceutical products as well as vascular access devices. The Company seeks to utilize strategic partnerships to help finance its development programs and is also seeking acquisitions to further diversify its product line to achieve critical mass in sales and take better advantage of the Company's distribution capabilities. Escalon has headquarters in Wayne, Pennsylvania and manufacturing operations in Long Island, New York and New Berlin, Wisconsin