Avesis Incorporated Declares Dividend for Common Stockholders

OWINGS MILLS, Md., June 30 /PRNewswire-FirstCall/ -- Avesis Incorporated
(OTC: AVSS.PK), a national leader in vision, hearing, dental and managed care
programs, announced today that its Board of Directors declared a dividend of
$.02333 per share of outstanding common stock, payable on July 15, 2008 to all
shareholders of record on June 30, 2008. On May 30, 2008, Avesis completed
the redemption and/or conversion of all of its two series of preferred stock.
There is now only common stock outstanding. The number of common shares
outstanding is 11,436,511. This includes the recent exercise of all 366,666
remaining warrants which were held by Director Kenneth L. Blum, II and family
members of Director and Chief Executive Officer Alan S. Cohn as well as 50,000
shares of restricted stock recently sold to each of Chief Financial Officer
Joel H. Alperstein and Chief Marketing Officer Michael P. Reamer.
Approximately 200,000 stock options remain outstanding, and there remain
approximately 100,000 shares available for future option grants under the
Company's 1993 Stock Option Plan.
The Series A preferred shares which mostly converted to common stock had
been receiving regular dividends at the equivalent rate of $.03375 per common
share per year with dividends having been declared and paid through November
30, 2007. The Company intends to pay dividends on its common stock at the
rate of $.04 per common share per year, payable $.02 per common share semi-
annually on January 15 and July 15. The present dividend is larger than
normal by $.00333 per share so as to make up for no dividend's having been
declared or paid on the former Series A preferred shares for the month of
December, 2007.
Founded in 1978 as National Vision Services, Avesis markets and
administers vision, hearing and dental managed care and discount programs
nationally. The programs are designed to enable participants who are enrolled
through various sponsoring organizations, such as insurance carriers, Blue
Cross/Blue Shield organizations, corporations, unions and various
associations, to realize savings on the purchase of products and services
through networks of providers such as ophthalmologists, optometrists,
opticians, hearing specialists and dentists. The Company offers a full array
of vision care plans tailored to meet the needs of a diversified healthcare
employee benefits and Medicaid/Medicare market. The Company's vision care
product lines include stand-alone fully insured programs, Administrative
Services Only contracts, discount plans and turn-key, private label solutions.
The Company through its wholly-owned subsidiary, Absolute Care, also
administers an infectious disease treatment facility located in Georgia. The
principal executive offices of the Company are located in Owings Mills,
Maryland. Today, Avesis Incorporated has more than 3,300,000 members in
programs in 50 states and Puerto Rico.
SOURCE Avesis Incorporated

Joel H. Alperstein, CFO, +1-410-581-8700, ext. 404, jalperstein@avesis.com