Essilor Cancels 700,000 Shares

At the end of 2006, Essilor's Board of Directors authorized the grantingof 930,740 stock options and 576,264 performance shares to employees. Thesegrants will potentially lead to the issuance of up to 1,507,004 new sharesbetween 2009 and 2011, depending on Essilor's share performance. They reflectEssilor's commitment to allowing employees to share the benefits of businessgrowth.

Essilor is also committed to protecting its shareholders' interests, byimplementing share buyback programs.

In line with this policy, since the beginning of the second half theCompany has bought back and canceled 400,000 convertible bonds due 2010 -reducing by 800,000 the number of shares to be issued in the event that thebonds are converted - and has canceled 700,000 shares held in treasury, inorder to offset the dilutive impact of these grants.

In addition, 500,000 shares were bought back in September and a further500,000 during the current month.

Essilor International is the world leader in ophthalmic optical products,offering a wide range of lenses under the flagship Varilux®, Crizal®,Airwear®, Essilor® and Definity(TM)brands to correct myopia, hyperopia,presbyopia and astigmatism. Essilor operates worldwide through 15 productionsites, 244 lens finishing laboratories and local distribution networks. TheEssilor share trades on the Euronext Paris market and is included in the CAC40 index (ISIN: FR 0000121667; Reuters: ESSI.PA; Bloomberg: EF FP).

    Investor Relations and Financial Communications    Veronique Gillet    Phone: +33(0)1-49-77-42-16