PMTI Palomar Medical Technologies, Inc. (MM)

Palomar Medical Introduces Two New Applicator Handpieces and Skinphotometer BURLINGTON, Mass., Feb. 28 /PRNewswire-FirstCall/ -- Palomar Medical Technologies, Inc. (NASDAQ:PMTI) announced today the VisiLux1064(TM) Laser Handpiece and the LuxIR(TM) Infrared Handpiece for the Palomar StarLux(TM) Pulsed Light and Laser System, and the DermaType(TM) Skinphotometer, presented at the American Academy of Dermatology's 63rd Annual Meeting in New Orleans. The Lux1064 Nd:YAG Laser Handpiece was introduced in February 2004 for the treatment of vascular lesions, including leg veins, telangiectasias, and other conditions. The VisiLux1064(TM) Laser Handpiece is the next generation and features a built-in, high resolution camera which projects an image of the treatment area onto an LCD screen mounted on the handpiece. The LCD screen provides real-time digital imaging for clear evaluation and treatment of leg veins and other targets. The camera magnifies the treatment area to about 4.5 times the actual size and through a proprietary illumination system enhances the image by contrasting the target against its background, for example, to provide clear viewing of deep veins. This innovation offers unparalleled visibility, treatment precision and ease of use while offering an additional laser alternative to Palomar's specialized family of Lux Handpieces. Palomar plans to begin shipments of the VisiLux1064(TM) Laser Handpiece by the end of the year. The LuxIR(TM) Infrared Handpiece delivers pulses of infrared light deep into the dermis to create carefully controlled areas of elevated temperature. This handpiece is pending FDA clearance for the temporary relief of muscle and joint pain, muscle relaxation and increased circulation. Palomar also intends to seek FDA clearance for creating a smoother, tighter skin appearance as the technology has been shown to trigger a biological response which leads to collagen remodeling in the dermis. Remodeled collagen can fill the skin to smooth out fine wrinkles and minor sagging, and can also stimulate increased collagen production to create visible long term results. This is the first Palomar Handpiece to utilize infrared light for the treatment of skin rejuvenation. Palomar plans to begin shipments of the LuxIR(TM) Infrared Handpiece by the end of the year. The DermaType(TM) Skinphotometer measures the melanin and blood content of skin in a matter of seconds. With this device, physicians will be able to quickly and accurately determine appropriate Palomar System settings for each patient to insure the safest and most accurate treatments are provided. The DermaType(TM) Skinphotometer can be used in conjunction with the Palomar StarLux(TM), MediLux(TM) or EsteLux(R) Systems, resulting in treatments perfectly tailored to the patient's individual skin type. This device is not yet available for sale. Palomar intends to seek FDA clearance for this device in the near future and begin shipments of the DermaType(TM) Skinphotometer this summer. Chief Executive Officer Joseph P. Caruso commented, "We remain a market leader in the development of new technology. We continue to advance our aesthetic products to meet the demands of the market while offering the most accurate and safe treatments possible. These new product additions greatly increase a physician's available treatment options and complement our business model by providing numerous expansion opportunities through versatile, innovative attachments and harmonizing accessories." About Palomar Medical Technologies Inc: Palomar is a leading researcher and developer of light-based systems for cosmetic treatments. Palomar pioneered the optical hair removal field, when, in 1997, it introduced the first high-powered laser hair removal system. Since then, many of the major advances in light-based hair removal have been based on Palomar technology. There are now millions of light-based cosmetic procedures performed around the world every year in physician offices, clinics, spas and salons. Palomar is testing many new and exciting indications to further advance the hair removal market and other cosmetic applications. Palomar is uniquely focused on developing proprietary light- based technology for introduction to the mass markets. Palomar has an agreement with The Gillette Company (NYSE:G) to develop and potentially commercialize a patented home-use, light-based hair removal device for women, and an agreement with Johnson & Johnson Consumer Companies to develop and potentially commercialize home-use, light-based devices for reducing or reshaping body fat including cellulite, reducing the appearance of skin aging, and reducing or preventing acne. For more information on Palomar and its products, visit Palomar's website at http://www.palomarmedical.com/. To continue receiving the most up-to-date information and latest news on Palomar as it happens, sign up to receive automatic e-mail alerts by going to the E-mail Alerts page in the Investor Relations' section of the website. With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements, including but not limited to statements relating to new markets, development and introduction of new products, and financial projections that involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements. These risk factors include, but are not limited to, results of future operations, technological difficulties in developing or introducing new products, the results of future research, lack of product demand and market acceptance for current and future products, the effect of economic conditions, challenges in managing joint ventures and research with third parties and government contracts, the impact of competitive products and pricing, governmental regulations with respect to medical devices, including whether FDA clearance will be obtained for future products, the results of litigation, difficulties in collecting royalties, potential infringement of third-party intellectual property rights, and/or other factors, which are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2003 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contacts: Investor Relations Palomar Medical Technologies Inc 781-993-2411 DATASOURCE: Palomar Medical Technologies, Inc. CONTACT: Investor Relations of Palomar Medical Technologies Inc, +1-781-993-2411, Web site: http://www.palomarmedical.com/ Company News On-Call: http://www.prnewswire.com/comp/107555.html

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