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CONFIDENTIAL DRAFT                                                May 16, 2003
Page 1 of 1                                                         1:00 pm ET

For Immediate Release

                    VISX AMENDS STOCKHOLDER RIGHTS AGREEMENT

SANTA CLARA, CALIFORNIA (May 16, 2003) - VISX, INCORPORATED (NYSE Symbol: EYE)
announced today that its Board of Directors adopted an amendment to the
Company's Stockholder Rights Agreement. Under the amended agreement, the rights
issued under the Stockholders Rights Agreement would be redeemed
immediately prior to the consummation of certain qualifying tender offers,
unless stockholders vote to keep the rights outstanding.

Liz Davila, Chairman and Chief Executive Officer of VISX said, "Our Board of
Directors has always been receptive to reviewing any bona fide offer for VISX.
This amendment to the rights plan underscores our commitment to VISX
stockholders."

Further details regarding this amendment, as well as a copy of the amendment,
are being filed with the Securities and Exchange Commission on Form 8-K.

VISX is a worldwide market leader in the design, manufacture, and sale of laser
vision correction systems. Ophthalmologists have performed over 5 million
procedures using VISX Systems, reducing or eliminating completely the need for
contacts or glasses. Additional information on VISX and VISX trained and
certified ophthalmologists can be found on the worldwide web at www.VISX.com.

This press release contains certain forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, which are based
on current expectations, forecasts, and assumptions of the Company that involve
risks and uncertainties. The Company's actual results could differ materially
from those stated or implied in such forward-looking statements, due to risks
and uncertainties associated with the Company's business, which include the risk
factors disclosed in the Company's most recent filings with the Securities and
Exchange Commission, including VISX's Form 10-Q for the three months ended March
31, 2003. The Company assumes no obligation to update the information included
in this press release, whether as a result of new information, future events or
otherwise.

Contacts:

VISX
Jackie Cossmon
(408) 773-7600

Eden Abrahams / Barrett Godsey
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449