

                                                                 Exhibit 99.1
                                                                 ------------

Press Release                                  Source: STAAR Surgical Company

              STAAR Surgical Reports Third Quarter 2003 Results

      Thursday October 30, 4:20 pm ET

      U.S. Sales Up 5% in Third Quarter

      Specialty Lens Sales Grew 22%

      ICL Unit Sales Up 15%

      Company Records a $2.1 Million Write-Down of Patents and Reverses $1.7
      Million of Reserves Against Former Officer's Notes

      SEC Review of STAAR Financials Completed

MONROVIA,  Calif.,  Oct. 30 -- STAAR Surgical Company  (Nasdaq:  STAA - News), a
leading developer,  manufacturer and marketer of minimally  invasive  ophthalmic
products,  today announced  financial  results for its third quarter which ended
October 3, 2003.

Total product sales for the quarter were $11,927,000 up 7.6% from the comparable
period one year ago. Excluding the impact of changes in currency exchange rates,
product sales were up 2% from the comparable  period one year ago. Total revenue
for the quarter was also  $11,927,000 up 6.5% from  $11,201,000  reported in the
same  period one year ago.  Last year's  difference  between  total  revenue and
product  sales was the result of royalties  previously  generated by  technology
licenses that terminated as of March 31, 2003.

During the  quarter,  the Company  wrote down $2.1  million  (net book value) in
capitalized  patent costs in  connection  with its routine  evaluation of patent
costs in accordance  with  Statement of Financial  Accounting  Standards No. 144
(SFAS 144) -- Accounting for the Impairment of Long-Lived Assets. The write-down
related to patents acquired in the purchase of its majority  interest in Circuit
Tree Medical,  a developer and  manufacturer of  phacoemulsification  equipment,
whose  ongoing  operations  were moved to the  Company's  Monrovia,  CA facility
during the  quarter.  STAAR  acquired  the  interest in Circuit  Tree Medical in
December 1999.  The $2.1 million charge was partially  offset by the reversal of
$1.7 million of reserves  against former  officer's notes which were paid during
the quarter resulting in net charges of $400,000.

Gross margins were 55.2% which  compared very  favorably with the 50.2% reported
in the same period one year ago.  Comparable  operating expenses  (excluding the
previously  disclosed  net charge of $400,000  in the third  quarter of 2003 and
$230,000 in employee  separation  costs  incurred in the third  quarter of 2002)
increased to $8,695,000,  or 23%, compared with the same period one year ago and
reflect a 32% increase in spending for research and  development  activities  as
well a 26% increase in marketing and selling expenses. The increased spending in
research  and  development  related to  increased  headcount,  new and  existing
product  development,  and costs  associated  with the U.S. FDA panel meeting to


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review the  ICL(R) and the  potential  upcoming  launch of the  product in early
2004.  The  increased  spending  in  marketing  and  selling  was the  result of
increased  salaries and travel,  one-time  employee  relocation costs, a loss on
disposal of a trade show booth and  consulting  and  promotional  activities  in
preparation  for the potential  launch of the ICL. "To help offset this increase
in  expenditure  we  continue  to  rigorously   streamline  our  U.S.  operating
infrastructure.  The integration of our phacoemulsification  business at Circuit
Tree Medical will provide  substantial  annual  savings to  counterbalance  this
planned increase in sales and marketing expenses," said David Bailey,  President
and CEO of STAAR Surgical.

General  and  administrative  expenses  were up 11% in the  quarter  from  third
quarter  2002  levels  primarily  as a result  of an  increase  in  professional
services  expenditures  for the SEC inquiry the Company  made during the quarter
related to its accounting for former officer's notes.

Net loss for the  quarter  was  $2,710,000,  or $0.15  per  share.  This  result
includes the net charge of $400,000  recorded during the quarter.  Excluding the
net  charge,  net loss per share for the  quarter  would have been  $0.13.  This
compares  with a net loss of $2,144,000  million,  or $0.12 per share during the
same period one year ago.  Excluding the $230,000 charge the Company took in the
third quarter of 2002 in conjunction with employee separation,  net loss for the
third quarter of 2002 would have been $1,914,000 or $0.11 per share.

"During the third  quarter,  we began to achieve our goal of turning  around the
U.S. base cataract business," continued Mr. Bailey. "Total U.S. sales were up 5%
from the third quarter of last year. This  performance was led by a 28% increase
in Collamer(R) lens sales, where growth has continued to accelerate.  Toric lens
sales also continued to gain momentum and were up 10% during the quarter.

"In our  international  business,  sales were flat  compared to the same quarter
last year when  excluding  the impact of exchange.  This  reflects a higher than
normal impact from the seasonality we expect in Europe during the summer months.
Despite  this,  international  ICL unit sales  increased  by 15% versus the same
quarter last year, led by growth in selected international geographies including
Australia.  International  revenue  represents  53% of our total revenue for the
first nine months of the year," continued Mr. Bailey.

For the nine-month  period ended October 3, 2003, total sales were  $37,656,000,
up 8.4% from the comparable  nine-month period of 2002.  Excluding the impact of
exchange,  sales were up 0.5% to the comparable nine-month period of 2002. Total
revenues for the same  nine-month  period of 2003  increased  7.7% from the same
period of 2002.  Net loss per share for the  nine-month  period ended October 3,
2003 was $0.28, compared with a net loss of $0.41 per share reported during same
period for last year. Without the net charge taken during the quarter,  net loss
for the first  nine  months of 2003  would have been  $0.25.  Without  the costs
related to employee  separation and a one-time income tax benefit,  net loss for
the first nine months of 2002 would have been a loss of $0.38 per share.

"We also achieved our goal of appearing before the FDA Ophthalmic  Devices panel
on October 3, 2003. Obviously,  we are delighted with the panel's recommendation
to approve the ICL for  commercialization in the U.S. for the full diopter range
requested in our PMA," Mr. Bailey  continued.  "Although the FDA is not bound by
its decision,  we believe that the panel's  exhaustive review of the ICL and the


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subsequent  vote of confidence are important steps in the approval  process.  We
believe we remain on track to  commercialize  the ICL in the U.S.  during  early
2004.  Our  technology is extremely  complementary  to existing  treatments  for
near-sightedness  and in cases  involving  extremely  high levels of myopia will
offer the only treatment available.

"With potential FDA approval pending,  we are also beginning to see the build-up
of interest from U.S. doctors," Mr. Bailey continued.  "This is further evidence
of the  critical  scientific  and medical  mindshare  that the ICL  continues to
garner. As evidenced by the increase in marketing and selling  expenses,  we are
strategically  preparing for an early 2004 commercial launch. There is clearly a
significant  potential  market  opportunity  for the  ICL.  We  intend  to fully
capitalize on this opportunity by carefully  planning and effectively  executing
in the U.S. market. The entire STAAR team is committed to this goal.

"More than 300 doctors  have  already  signed up for a symposium at the upcoming
AAO conference in Anaheim in November  designed to educate doctors about the use
of phakic  IOLs like our ICL as a  compliment  to corneal  refractive  surgery,"
continued Mr. Bailey.  "We will have a major presence at the conference and have
planned a variety of  presentations  during the  meeting  that will span  topics
ranging from the  biocompatibility  of our patented Collamer material to insight
on how doctors can achieve successful results in the implantation of the ICL."

SEC Review of Financials Completed

During the quarter,  STAAR  initiated  discussions  with the Office of the Chief
Accountant  of the SEC regarding  STAAR's  historical  method of accounting  for
promissory  notes received from former officers and directors in connection with
the  exercise of stock  options.  On October 29,  2003,  the Office of the Chief
Accountant advised STAAR that determining the appropriate  accounting  treatment
is highly  dependent on the specific  facts and  circumstances,  and rather than
express a view on how STAAR accounted for these transactions, advised STAAR that
management and its auditors  should  carefully  evaluate the attendant facts and
circumstances,  together with all relevant audit  evidence in assessing  whether
STAAR  applied the proper  accounting  treatment.  STAAR and its  auditors,  BDO
Seidman,  LLP,  have  thoroughly  reviewed  the facts and  circumstances  of the
officers' and directors'  promissory  notes and have  determined  that the notes
were accounted for appropriately  except with regard to interest income as noted
below  and no other  adjustments  to  historical  financial  statements  will be
required.

During the course of these  discussions with the SEC, it was noted that interest
income on the notes was being recorded on a cash basis rather than on an accrual
basis required by Generally Accepted  Accounting  Principles (GAAP). The Company
has determined that this is an accounting  error which will require  restatement
of its financial  statements for the years ended December 29, 2000, December 28,
2001, and January 3, 2003, the first quarter ended April 4, 2003, and the second
quarter ended July 4, 2003 by increasing  (decreasing) other income (expense) by
($280,967), ($161,479), $225,595, ($211,065), and ($53,104), respectively.

STAAR exited the third  quarter with  approximately  $9,861,000 in cash and cash
equivalents  on its balance  sheet  compared  with  $1,009,000 at the end of the
fourth  quarter of 2002.  STAAR had  $3,257,000  in debt at the end of the third
quarter of 2003.

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Looking ahead,  Mr. Bailey offered this outlook for the full year 2003. "For the
full year we believe that we will  generate  single digit sales growth  overall,
with the U.S. market continuing to grow during the fourth quarter. This positive
trend in the U.S. will continue to help drive gross margin.  We will continue to
allocate  an  appropriate  portion  of our R&D  budget to  further  develop  new
injector  systems  and build a true core  competence  within  STAAR  Surgical to
complement  our implant  technology.  This will have a lasting impact on implant
sales going forward.  As we continue to ramp up sales and marketing expenses for
the U.S. ICL launch, we will remain focused on containing other expenses.  Given
all that is  happening  with the ICL we  believe  that we will  reach  operating
profitability  during the second half of next year,  assuming an early 2004 U.S.
launch of the ICL."

Use of Non-GAAP Measures

The Company believes that non-GAAP measures of earnings per share before charges
associated  with the write-down of patents  partially  offset by the reversal of
reserves on officer's notes,  before charges associated with employee separation
and before the impact of a tax benefit are  appropriate  measures for evaluating
the operating  performance of the Company.  The Company  believes that providing
these measures  without regard to the charge taken in the third quarter of 2003,
the charges associated with employee separation and subsidiary closures taken in
2002 and  excluding  the impact of an income tax benefit in the third quarter of
2002,  will allow  investors and others to more  thoroughly  evaluate  operating
results and in turn, allow them to judge the Company's operating progress.

Conference Call

The Company will host a conference  call and webcast today,  October 30, 2003 at
4:30 p.m.  EST to discuss  the  Company's  third  quarter  results  and  current
corporate   developments.   The  dial-in  number  for  the  conference  call  is
800-240-4186  for  domestic  participants  and  303-262-2050  for  international
participants.

A  taped  replay  of the  conference  call  will  also  be  available  beginning
approximately  one hour after the call's  conclusion  and will remain  available
through  9:00 p.m.  EST on  Saturday,  November  1, 2003 and can be  accessed by
dialing  800-405-2236 for domestic  callers and  303-590-3000 for  international
callers,  using passcode 555304#.  To access the live webcast of the call, go to
STAAR  Surgical's  website at  www.staar.com.  An archived  webcast will also be
available at www.staar.com

About STAAR Surgical

STAAR  Surgical is a leader in the  development,  manufacture  and  marketing of
minimally  invasive  ophthalmic  products  employing  proprietary  technologies.
STAAR's products are used by ophthalmic  surgeons and include the  revolutionary
Implantable  Contact Lens(TM) as well as innovative products designed to improve
patient  outcomes  for  cataracts  and  glaucoma.  STAAR's  ICL has  received CE
Marking,  is approved  for sale in 37 countries  and has been  implanted in more
than 30,000 eyes worldwide.

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Safe Harbor

All statements in this press release that are not statements of historical  fact
are forward-looking statements,  including any projections of earnings, revenue,
or  other  financial  items,  any  statements  of  the  plans,  strategies,  and
objectives  of  management  for future  operations,  any  statements  concerning
proposed new  products  and  government  approval of new  products,  services or
developments,   any  statements   regarding   future   economic   conditions  or
performance,  statements of belief and any statements of assumptions  underlying
any of the foregoing. These statements are based on expectations and assumptions
as of the date of this  press  release  and are  subject to  numerous  risks and
uncertainties,  which could cause actual results to differ materially from those
described in the forward-looking statements. The risks and uncertainties include
the need to obtain  regulatory  approval  for new  products,  acceptance  of new
products by medical practitioners and consumers, the rapid pace of technological
change in the ophthalmic industry,  general domestic and international  economic
conditions,  and other  factors  beyond the control of STAAR  Surgical  Company,
including those detailed from time to time in STAAR Surgical  Company's  reports
filed with the  Securities  and  Exchange  Commission.  STAAR  Surgical  Company
assumes no obligation to update these forward-looking statements and does intend
to do so.

    CONTACT:   Investors                          Media
               EVC Group                          EVC Group
               Douglas Sherk, 415-896-6820        Sheryl Seapy, 415-272-3323
               Jennifer Cohn, 415-896-6820

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                            STAAR Surgical Company
                 Condensed Consolidated Statements of Income
                     (In 000's except for per share data)
                                  Unaudited


                             Three Months Ended           Nine Months Ended

                          October 3,   September 27, October 3,  September 27,
                            2003           2002         2003           2002

    Sales                  $11,927       $11,085      $37,656       $34,725
    Royalties                    0           116           48           295
        Total revenues      11,927        11,201       37,704        35,020

        Total cost of
         goods sold          5,340         5,580       17,082        17,664

    Gross profit             6,587         5,621       20,622        17,356

      General and
       administrative        2,324         2,086        6,829         6,786
      Marketing and
       selling               5,048         4,000       13,629        12,502
      Research and
       development           1,323         1,002        3,874         3,055
      Other charges            390           230          390         1,455
        Total selling,
         general and
         administrative
         expenses:           9,085         7,318       24,722        23,798

    Operating loss          (2,498)       (1,697)      (4,100)       (6,442)

    Total other income
     (expense)                  27          (155)         188          (849)

    Loss before
     income taxes           (2,471)       (1,852)      (3,912)       (7,291)

    Income tax
     provision (benefit)       215           222          859          (406)

    Minority interest           24            70           66           165

    Net loss               ($2,710)      ($2,144)     ($4,837)      ($7,050)


    Net loss
     per share              ($0.15)       ($0.12)       ($0.28)      ($0.41)


    Weighted average
     shares outstanding     18,281        17,182       17,504        17,168


    Proforma Loss Per Share
    Net loss
     per share            $(2,710)      $(2,144)     $(4,837)      $(7,050)

    Other charges              390           230          390         1,455
    Income tax benefit          --            --           --         (958)

    Proforma loss
     per share             $(2,320)      $(1,914)     $(4,447)      $(6,553)

    Proforma net
     loss per share         $(0.13)       $(0.11)       $(0.25)      $(0.38)



