WAYNE, Pa., Oct. 7 /PRNewswire-FirstCall/ -- Escalon Medical Corp.
(Nasdaq: ESMC) today announced that it has filed with the Securities and
Exchange Commission a Form 10-K annual report for the fiscal year ended June
30, 2005.  As reported in a Form 12b-25 filed on September 29, 2005, Escalon's
auditors had requested additional information pertaining to Escalon's
acquisition of Drew Scientific Group, Plc before releasing their audit report
with respect to Escalon's June 30, 2005 consolidated financial statements.
Upon review of the requested information, the auditors released their audit
report.  There are no changes in the Form 10-K from the financial information
reported in Escalon's fourth quarter and year-end 2005 news release issued on
September 29, 2005.

    Founded in 1987, Escalon develops, markets and distributes ophthalmic
diagnostic, surgical and pharmaceutical products as well as vascular access
devices.  Drew, which operates as a separate division, provides
instrumentation and consumables for the diagnosis and monitoring of medical
disorders in the areas of diabetes, cardiovascular diseases and hematology, as
well as veterinary hematology and blood chemistry.  Escalon seeks to utilize
strategic partnerships to help finance its development programs and is also
seeking acquisitions to further diversify its product line to achieve critical
mass in sales and take better advantage of the Escalon's distribution
capabilities.  Escalon has headquarters in Wayne, Pennsylvania and
manufacturing operations in Long Island, New York, New Berlin, Wisconsin,
Dallas, Texas, Oxford, Connecticut and Barrow-in-Furness, U.K.

    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 the 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, including, the integration of Drew's operations, 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, the continuity of royalty revenue,
litigation and non-recurring expenses, 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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