WAYNE, Pa., July 7 /PRNewswire-FirstCall/ -- Escalon Medical Corp.
(Nasdaq: ESMC) today announced that it has been named to Fortune's Small
Business 100 - America's fastest-growing small companies.
    Escalon was ranked 20th, with Fortune reporting an annual revenue growth
rate of 12.2% and an earnings per share annual growth rate of 131.8% for the
three-year period ending December 31, 2003, and an annual rate of total return
of 52.3% for the three-year period ending June 1, 2004.
    Richard J. DePiano, Chairman and CEO, commented, "We are committed to
creating shareholder value and have made significant progress toward reducing
debt and generating cash flow.  We are honored to make the top twenty and to
be recognized for our accomplishments."
    To construct the list, FORTUNE Small Business magazine worked with Zacks
Investment Services to select public companies with $200 million or less in
annual revenue and a stock price of more than $1.  These companies were then
ranked by earnings growth, revenue growth and stock performance over the past
three years.  Those rankings, which appeared in the July/August issue, were
averaged to create the final order for the top 100 companies.
    Founded in 1987, Escalon develops, markets and distributes ophthalmic
diagnostic, surgical and pharmaceutical products as well as vascular access
devices.  Escalon seeks to further diversify its product line to achieve
critical mass in sales and take better advantage of Escalon's distribution
capabilities through internal product development, acquisitions or strategic
partnerships.  Escalon has headquarters in Wayne, Pennsylvania and
manufacturing operations in Long Island, New York and New Berlin, Wisconsin.

    Note: This press release contains statements that are considered forward-
looking under the Private Securities Litigation Reform Act of 1995, including
statements about Escalon's future prospects. They are based on Escalon's
current expectations and are subject to a number of uncertainties and risks,
and actual results may differ materially. The uncertainties and risks include
whether Escalon is able to improve upon the operations of Escalon's business
units, generate cash and identify, finance and enter into business
relationships and acquisitions, uncertainties and risks related to new product
development, commercialization, manufacturing and market acceptance of new
products, marketing acceptance of existing products in new markets, research
and development activities, including failure to demonstrate clinical
efficacy, delays by regulatory authorities, scientific and technical advances
by Escalon or third parties, introduction of competitive products, third party
reimbursement and physician training as well as general economic conditions.
Further information about these and other relevant risks and uncertainties may
be found in Escalon's report on Form 10-K, and its other filings with the
Securities and Exchange Commission, all of which are available from the
Commission as well as other sources.

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