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Escalon Medical Corp.

Escalon(R) Reports Fourth Quarter and Fiscal 2008 Results

For the fiscal year ended June 30, 2008, financial results were heavily affected by the non-recurring, non-cash, goodwill impairment expense of $9,575,000, recorded in the fourth quarter of fiscal 2008, resulting from the requirement under SFAS 142 in connection with the Company's impairment test of intangible assets and goodwill valuations. The revaluation of goodwill, as required by GAAP, resulted in the Company's goodwill being revalued to zero, generating a non-cash $9,575,000 impairment charge.

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