DGAP-Adhoc: WaveLight AG: Deferred taxes carried forward for partially adjusting the value as at 30th April, 2008

WaveLight AG / Miscellaneous

23.04.2008 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc communication according to Para. 15 WpHG (German Law on
Securities Trading)

WaveLight AG: Deferred taxes carried forward for partially adjusting the
value as at 30th April, 2008

Erlangen, 23th April, 2008. WaveLight AG, listed in the Prime Standard of
Deutsche Börse AG (Company address: Wolfsmantel 5, 91058 Erlangen; ISIN:
DE0005125603) today communicates the partially value adjustment of the
balanced deferred taxes for accumulated deficits brought forward by
WaveLight AG as at 30th April, 2008, as stated in the consolidated accounts
of 31st July, 2007.

The agreement published on the 7th April, 2008 between Nestlé S.A. and
Novartis AG., forms the background for this value adjustment. It provides
that Novartis should acquire 24.85% of the shares of the WaveLight majority
shareholder Alcon Inc., as the first step. Between the 1st January, 2010
and the 31st July, 2011, the remaining stake of about 52% of the shares of
Alcon, Inc. could be transferred.

The Executive Committee of WaveLight AG has checked the recoverability of
the deferred taxes on deficits carried forward, on the grounds of the
probable takeover of Alcon by Novartis and the provisions of Section 8c of
the German Law on Corporation on Tax and has decided as follows:  that, as
in the consolidated financial statement on 31st July, 2007, the balanced
deferred taxes on accumulated deficit carried forward shall be partially
value adjusted to a value of € 5.000 thousand on the planned useful level
of € 8.258 thousand, against the background of a probable takeover of Alcon
by Novartis. This will already be effected for in the nine-months-accounts
of WaveLight AG on 30th April, 2008.

End of the ad hoc communication
DGAP 23.04.2008 
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Language:     English
Issuer:       WaveLight AG
              Am Wolfsmantel 5
              91058 Erlangen
              Deutschland
Phone:        +49 (0)9131 - 61 86-0
Fax:          +49 (0)9131 - 61 86-111
E-mail:       info@wavelight.com
Internet:     www.wavelight.com
ISIN:         DE0005125603
WKN:          512560
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News                                     DGAP News-Service
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