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Daily Report Snap Poll Results

In your opinion, which of the two competing offers for Bausch & Lomb would be best long-term for Rochester, including the company’s local employees and shareholders?

66% Warburg Pincus
34% Advanced Medical Optics

In general, what impact has the sale of homegrown companies to non-local firms had on Rochester?

7% positive
75% negative
19% neutral

Due to rounding, total does not equal 100%

Poll conducted 7/9 – 7/10/07

COMMENTS

Rochester’s 40-year transition from a headquarters town to a branch office town has been and will continue to be devastating to the community’s entire infrastructure, financially and socially.
-Rob Brown, Boylan, Brown, Code, Vigdor & Wilson LLP

The sale to Warburg Pincus would essentially be a financing strategy for B&L, with the majority of the shares being held by a private equity fund as opposed to the public markets. In the majority of these transactions, management maintains a stake in the business and has significant influence over its long-term strategy. A strategic buyer, such as Advanced Medical Optics, has no loyalty to the Rochester market and will look to consolidate as much of the operations as possible to maximize the fully synergized value of the transaction.
-Kevin M. Halpin, DeltaPoint Capital Management LLC

7/13/2007 (C) Rochester Business Journal

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