Coastal Contacts Obtains Injunctions Against Current Director


VANCOUVER, British Columbia, June 29, 2010 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal" or "the Company") (TSX:COA) (Stockholm:COA) has successfully obtained court injunctions in Sweden and Canada against Mr. Daniel Muhlbach, one of Coastal's current directors.

Coastal reports that it has now received a decision from the District Court in Stockholm, Sweden granting the Company's application for interim security measures against Mr. Muhlbach.  Pursuant to the interim measures granted, Mr. Muhlbach is prohibited to use or disclose confidential information regarding the Company's trade secrets, business and other internal affairs as set out in his employment contract. The penalty attached to the prohibition is set at SEK 1,000,000 for each and every violation.

In addition, on June 16, 2010, Mr. Justice Kelleher of the Supreme Court of British Columbia in Canada granted Coastal's application for an injunction ordering that Mr. Muhlbach be enjoined from: (a) participating in any offers, bids, proposals or other attempts to acquire the issued and outstanding shares of Coastal or any of its subsidiaries; and (b) soliciting or recruiting the employees of Coastal or its subsidiaries. 

On May 18, the Company announced that it had filed a Statement of Claim in British Columbia, Canada against former Lensway Chief Executive Officer, Mr. Muhlbach. Particulars of the allegations include, among other things, breach of fiduciary duties and failure to act honestly and in good faith with a view to the best interests of Coastal.

Mr. Roger Hardy, Coastal Contacts' President and CEO, commented: "With the injunctions in place to protect Coastal's European operations, we continue to remain focused on enhancing our business and moving forward with our global strategic plan."

About Coastal Contacts:

Coastal Contacts Inc. is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses.  Coastal's unique combination of branded and private label products represent quality, value and above all, service.  Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market.  As markets for eyeglasses and contact lenses evolve, Coastal is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service.  A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store".

Forward Looking Statements

All statements made in this news release, other than statements of historical fact, are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict.

Persons reading this news release are cautioned that forward-looking statements or information are only predictions, and that our actual future results or performance may be materially different due to a number of factors. Reference should also be made to the section entitled "Risk Factors" contained in our most recently filed Annual Information Form dated January 29, 2010 and in the NASDAQ OMX Stockholm listing prospectus dated October 14, 2009, as filed on Sedar and with the Swedish Financial Supervisory Authority, for a detailed description of the risks and uncertainties relating to our business. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These forward-looking statements are made as of the date of this news release and we expressly disclaim any intent or obligation to update these forward-looking statements, unless we specifically state otherwise and except as required by applicable law.



            

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