Paradigm Medical Renews Strategic Alliance WithPharmacia Corporation.

Business Editors

SALT LAKE CITY, Utah--(BUSINESS WIRE)--May 23, 2000

Paradigm Medical Industries, Inc. (NASDAQ: PMED) at the recent annual meeting of the American Society of Cataract and Refractive Surgeons (ASCRS) in Boston, Massachusetts, CEO Thomas F. Motter of Paradigm Medical

Industries, Inc., and Karl Braun, U.S. Sales Director of Pharmacia Corporation announced a strategic alliance renewal contract. This contract continues the alliance between the two companies and increases their competitive capability in the ophthalmic cataract surgical marketplace. Paradigm supplies the surgical equipment and Pharmacia provides the surgical products (Healon, Viscoelastics & CeeON IOLs) for cataract surgery. This alliance is extremely beneficial to both companies and we look forward to a long successful relationship," stated Mr. Motter.

There are over three million cataract procedures done in the United States every year, based on recent statistics. "The market continues to be very competitive and Paradigm, along with its alliance partners intends to be a force in this dynamic market by providing innovative equipment like our PHOTON Laser Cataract Removal product presently awaiting FDA approval," explained Motter.

In addition to the Paradigm/Pharmacia alliance, the components of a larger Eye Alliance were made by joining Pharmacia Corporation, Paradigm Medical Industries, Inc., and Maxxim Medical to provide a complete package of products including individually designed procedural trays for each customer's specific needs for the entire cataract procedure. "Maxxim is a major manufacturer of custom surgical packs for the Operating Room and looks forward to a successful collaborative approach to the Eye Alliance," stated Ron Evans, Vice President of Sales for Maxxim Medical.

Paradigm Medical Industries, Inc. develops, manufactures and markets diagnostic eye care equipment and surgical systems for minimally invasive cataract treatment to global markets. The company's corporate offices are located at 2355 South 1070 West, Salt Lake City, Utah 84119. Call 801-977-8970 or visit us at our web site at www.paradigm-medical.com.

This press release contains forward-looking statement that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Paradigm and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Paradigm's actual results may differ significantly from the results discussed or implied in such forward-looking statements.