Unilens Vision Reports Record Third Quarter Revenue, and Royalty Income

EARNINGS ESCALATE 21% TO $.10 PER DILUTED SHARE

LARGO, Fla., May 27 /PRNewswire-FirstCall/ -- Unilens Vision Inc. (OTC
Bulletin Board: UVICF; TSX Venture Exchange: UVI), which develops, licenses,
manufactures, distributes and markets specialty contact lenses, today reported
its operating results for the third quarter ended March 31, 2009 (FY2009).

Net sales, excluding royalty income, increased 2% to $1,701,043 in the FY2009
third quarter, compared with $1,668,397 in the previous year third quarter
(FY2008). The increase was primarily a result of continued growth of the
Company's C-Vue brand disposable specialty contact lenses, sold exclusively to
licensed eye care professionals.

FY2009 third quarter net income was $446,850, compared with $368,730 in the
previous year third quarter, an increase of 21%.

Royalty income for the FY2009 third quarter increased 16.7% to a record third
quarter of $734,249 compared with $628,993 in the prior-year quarter. Sales of
licensed products by our licensee Bausch & Lomb continue to increase,
resulting in continued royalty income growth.

FY2009 third quarter income before taxes increased 18.1% to a record third
quarter of $745,249 compared with $631,193 in the prior-year quarter. After
recording net income tax expense of $298,399, Unilens reported net income of
$446,850 for the quarter, or $0.10 per diluted share. In the FY2008 third
quarter, the Company reported net income of $368,730, or $0.08 per diluted
share, which included income tax expense of $262,463.

"We are very pleased with our third quarter results, considering the current
economic environment," stated Michael J. Pecora, Chief Executive Officer of
Unilens Vision Inc. "Double-digit growth from our C-Vue brand of lenses sold
exclusively to independent practitioners, combined with a 17% growth in
royalty revenue derived from Bausch & Lomb's sales of multifocal lenses that
use our key technologies, was responsible for our record performance."

"I am also pleased to report that the Unilens' Board of Directors declared its
regular quarterly dividend of US $0.09 per common share, payable tomorrow, May
28, 2009. "This decision was based on the Company's strong balance sheet, and
projected operating cash flows and is consistent with the Board's commitment
that shareholders should share directly in the earnings achieved by management
while continuing to execute our growth strategy," concluded Mr. Pecora.

For the nine months ended March 31, 2009, net sales excluding royalty income,
increased 2.9% to $4,992,811, as compared to $4,854,119 for the prior-year
nine months. Net sales of the Company's C-Vue brand disposable contact lenses
increased approximately 11% during the first nine months of fiscal year 2009,
while sales of replacement products lines declined, as expected.

Net Income for the nine months increased 13.4% to $1,272,162, or $0.28 per
diluted share, compared with $1,121,941, or $0.25 per diluted share in the
prior-year 9 months.

Royalty income for the nine months ended March 31, 2009 increased 11.9% to a
record $2,114,215, compared with $1,888,641 in the prior-year 9 months,
demonstrating continued demand for sales of licensed products by our licensee
Bausch & Lomb.

Income before taxes for the nine months ended March 31, 2009 increased 18.5%
to $2,120,225, compared with $1,789,951 in the prior-year 9 months. After
recording net income tax expense of $848,063, Unilens reported net income of
$1,272,162, or $0.28 per diluted share, for the nine months ended March 31,
2009. This compared with net income of $1,121,941, or $0.25 per diluted share,
in the prior-year 9 months of fiscal year 2008, which included net income tax
expense of $668,010.

About Unilens Vision Inc. - "The Independent Eye Care Professionals Contact
Lens Company"

Established in 1989, Unilens Vision Inc., through its wholly owned subsidiary
Unilens Corp., USA, located in Largo, Florida, develops, licenses,
manufactures, distributes and markets contact lenses primarily under the C-Vue
brand directly to Independent Eye Care Professionals. Additional information
on the Company may be accessed on the Internet at www.unilens.com. The
Company's common stock is listed on the OTC Bulletin Board under the symbol
"UVICF" as well as the Canadian TSX Venture Exchange under the symbol "UVI".

(Note: All financial information in this release is stated in U.S. Dollars.)

The information contained in this news release, other than historical
information, consists of forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from those
described in such statements. For a discussion of certain factors that could
cause actual results to differ materially from those described in the
forward-looking statements, please refer to the Company's most recent filings
with the SEC and the TSX Venture Exchange. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.

For more information, please contact:

Leonard F. Barker, CFO, Unilens Vision Inc. at (727) 544-2531

UNILENS VISION INC.
THIRD QUARTER - FISCAL 2009
CONDENSED CONSOLIDATED FINANCIAL INFORMATION

(All figures in U.S. Dollars)
RESULTS OF OPERATIONS

Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
March 31, March 31, March 31, March 31,
2009 2008 2009 2008

Sales $1,701,043 $1,668,397 $ 4,992,811 $4,854,119
Cost of sales 943,931 964,952 2,752,561 2,754,802
757,112 703,445 2,240,250 2,099,317
Expenses 731,093 706,041 2,206,395 2,176,183
Income (loss)
from operations 26,019 (2,596) 33,855 (76,866)
Other items:
Royalty income 734,249 628,993 2,114,215 1,888,641
Other (expense)
income (12,917) 1,845 (19,406) (47,071)
Remeasurement
(expense) income (2,479) (1,044) (11,463) 1,968
Interest income 377 3,995 3,024 23,279
719,230 633,789 2,086,370 1,866,817
Income before
income tax expense 745,249 631,193 2,120,225 1,789,951
Income tax expense 298,399 262,463 848,063 668,010
Net income for
the period $446,850 $368,730 $1,272,162 $1,121,941
Net income per
common share:
Basic $0.10 $0.08 $0.28 $0.25
Diluted $0.10 $0.08 $0.28 $0.25
CASH FLOWS
Provided (used) by:
Operating
activities $960,719 $893,412 $2,255,774 $1,848,658
Investing
activities (264,083) (33,699) (329,144) (63,458)
Financing
activities (409,565) (409,564) (2,593,908) (2,563,136)
Decrease in cash $287,071 $450,149 $(667,278) $(777,936)

BALANCE SHEET
June 30, March 31, March 31,
2008 2009 2008
Cash and certificate
of deposit $1,603,476 $1,174,735 $1,185,744
Total assets 6,784,128 5,529,389 6,489,924
Current liabilities 957,434 1,024,441 762,316
Total liabilities 957,434 1,024,441 762,316
Stockholders' equity $5,826,694 $4,504,948 $5,727,608

SOURCE Unilens Vision Inc.

Leonard F. Barker, CFO of Unilens Vision Inc., +1-727-544-2531