Advanced Medical Optics (EYE)

Restructuring Update

During the quarter, the company continued to execute previously announced restructuring plans designed to deliver approximately $4 million to $7 million in 2008 savings and, when fully implemented, to deliver between $12 million and $16 million in annualized savings. The company continues to estimate related 2008 charges of between $36 million and $43 million. The company incurred approximately $33.9 million of these charges through September 26, 2008, including $11.0 million in the third quarter.

Restructuring Update

During the quarter, the company continued to execute its previously announced restructuring plans, designed to enhance its global competitiveness, operating leverage and cash flow. The company continues to expect to incur related charges in 2008 of between $36 million and $43 million. The company incurred approximately $22.9 million of these charges through the first half of 2008, including $11.0 million in the second quarter. AMO continues to expect these actions to deliver approximately $4 million to $7 million in 2008 savings and, when fully implemented, to deliver between $12 million and $16 million in annualized savings.

Restructuring Update

In February 2008, the company announced plans to reduce fixed costs in order to enhance its global competitiveness, operating leverage and cash flow. This plan includes a net workforce reduction of approximately 4% and consolidation of certain operations to improve facility utilization. In addition, in December 2007, the company announced plans to consolidate its equipment manufacturing into its Milpitas, California facility and relocate its femtosecond patient

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interface manufacturing to its existing facility in Puerto Rico. Implementation of these plans proceeded on schedule during the first quarter. As a result of all of these actions, the company expects to incur one-time charges in 2008 of between $36 million and $43 million, the vast majority of which will be in cash. The company incurred $11.9 million of these charges in the first quarter of 2008. In 2008, the company expects these actions to deliver approximately $4 million to $7 million in savings. The company expects these actions, when fully implemented, to deliver between $12 million and $16 million in annualized savings.