NVI National Vision

National Vision Announces Cash Payment to DTC Participants of Undistributed Interest and Principal Reduction Payments on its 12% Senior Secured Notes LAWRENCEVILLE, Ga., July 2 /PRNewswire-FirstCall/ -- National Vision, Inc. (AMEX:NVI), formerly known as Vista Eyecare, Inc., today announced that on July 6, 2004 (the "Payable Date"), Depository Trust Company ("DTC") will distribute to DTC participants of Vista Eyecare, Inc. 12.75% Senior Notes (the "Original Notes" - CUSIP #638459AC1) a cash payment representing previously undistributed interest and principal reduction payments on certain of its 12% Senior Secured Notes due 2009 (the "Notes" - CUSIP #63845PAA9). The record date for determining recipients of the cash payments is May 18, 2001 (hereinafter the "Record Date"). On June 24, 2004, DTC distributed certain Notes to DTC participants of the Original Notes. The cash payments now being made are associated with this recent issuance of Notes. The total cash distributed on the Payable Date will equal $37.6239476 for each $1,000 Original Note held by DTC participants as of the Record Date. The Company's records indicate that $27.20682064 for each $1,000 Original Note held represents interest paid on the Note and $10.41712696 for each $1,000 Original Note held represents reduction in principal. The interest and principal reduction payments now being distributed to DTC participants were recorded as reductions in cash and either interest expense or reductions in the Notes at the time of each original payment. The Company's Note trustee, U.S. Bank, has held this cash pending final distribution of the Notes, which has now occurred. Therefore, this distribution has no effect on the Company's current financial condition, its current or its historical results of operations. National Vision, Inc. is a retail optical company that operates vision centers within host environments in the United States and Mexico. Our vision centers sell a wide range of optical products including eyeglasses, contact lenses and sunglasses. DATASOURCE: National Vision, Inc. CONTACT: Paul A. Criscillis, Jr., Senior Vice President and CFO of National Vision, Inc., +1-770-822-4262 Web site: http://www.nationalvision.com/

Copyright