SAN CLEMENTE, Calif., July 24, 2006 (PRIMEZONE) -- Advanced Refractive Technologies Inc. (ART) (Pink Sheets:ARFR) is pleased to announce the nomination of two new Directors.
Jenaro Garcia Martin is founder and CEO of IBER-X (IBER Band Exchange SA) located in Madrid, Spain. IBER-X manages $130 million dollars and offers its services in eight countries. Mr. Garcia Martin is also co-founder of Blue Emerald Investment Bank, S.A., located in Luxembourg. Blue Emerald concentrates on restructuring and investing in companies in the $10 to $50 million value level.
Mr. Garcia Martin stated, "I am pleased to begin working with ART as an outside independent director to help position the company to effectively compete in the market place going forward with its new products and partners."
Timothy F. Laney, Managing Director of La Terraza Trading and Asset Management, LTD, also located in Madrid, Spain, was nominated to the Board of ART. La Terraza manages assets of very high net-worth individuals as well as institutions. Mr. Laney stated: "La Terraza looks forward to a long and profitable association with ART, in particular, we look forward to our clients benefiting from their investments in ART."
Randy Bailey, the CEO of ART stated: "This begins the process of restructuring the company to bring in the talent and capital necessary for ART to move forward. We look forward to working with these nominated Directors."
About Advanced Refractive Technologies, Inc.
Advanced Refractive Technologies, Inc. is an ophthalmology development company focused on the development and marketing of innovative ophthalmic applications that will result in faster, safer and more effective procedures in two of the largest surgical markets in the world: corrective refractive surgery and cataract surgery, as well as innovative drugs for glaucoma and age-related macula degeneration. Advanced Refractive Technologies is currently in the process of developing their Accupulse, a next generation cataract emulsifier, which utilizes the company's proprietary waterjet technology. The Accupulse cataract emulsifier, currently under development, is a device that uses pulsed waterjet technology to remove cataracts -- the most frequently performed surgical procedure in the world. For more information on Advanced Refractive Technologies, please visit its website at http://www.advancedrefractive.com.
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