TORONTO and CHICAGO, November 20, 2003 -- TLC Vision Corporation (NASDAQ:TLCV; TSX:TLC) announced today that it has arranged a $15 million revolving line of credit from GE Healthcare Financial Services.

"We had several bidders for the financing, but in the end, GE Healthcare Financial Services had the best proposal," said Elias Vamvakas, TLCVision chairman and CEO. "Consistent with TLCVision's growth strategy, we plan on opening or acquiring a number of new ambulatory surgery centers ("ASC's") in partnership with local doctors over the next few years. This line provides the Company with greater flexibility with respect to the timing of those investments and acquisitions."

"We are delighted to provide financing for a leader in eye care services," said Robert McCarrick, senior vice president of Corporate Finance for GE Healthcare Financial Services. "Our healthcare experience enabled us to understand TLCVision's varied lines of business and provide the structure that best fit the company's needs. Our healthcare knowledge, combined with our range of offerings and financial stability, helps GE Healthcare Financial Services provide the right financing solutions for healthcare companies."

About TLC Vision

TLC Vision Corporation is North America's premier eye care services company. TLCVision enjoys a number of valuable assets including an affiliated network of more than 12,500 optometrists and 1,000 ophthalmic surgeons, access to some of the newest clinical technologies, proven patient education and marketing programs, state-of-the art information systems, a strong operations management culture and a number of well established corporate brands. The Company's common shares trade on the NASDAQ National Market under the symbol 'TLCV' and on the Toronto Stock Exchange under the symbol 'TLC'. Visit TLCVision's Web site at www.tlcv.com.

About GE Healthcare Financial Services

GE Healthcare Financial Services, a unit of GE Commercial Finance, is a provider of capital, financial solutions, and related services for the global healthcare market. With $10 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending, vendor programs and acquisition financing. With its knowledge of the healthcare industry, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. GE Healthcare Financial Services' Web site is www.gehealthcarefinance.com .

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934, which statements can be identified by the use of forward looking terminology, such as "may", "will", "expect", "intend", "anticipate", "estimate", "predict", "plans" or "continue" or the negative thereof or other variations thereon or comparable terminology referring to future events or results. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, including the timing of expenditures, effects of competition, changes to pricing, acquisitions and expansion opportunities, any of which could cause actual results to vary materially from current results or TLCVision's anticipated future results. See the Company's reports filed with the Canadian Securities Regulators and the U.S. Securities and Exchange Commission from time to time for cautionary statements identifying important factors with respect to such forward looking statements, including certain risks and uncertainties, that could cause actual results to differ materially from results referred to in forward looking statements. TLCVision assumes no obligation to update the information contained in this press release.

Contacts

Stephen Kilmer
Director of Investor Relations
TLC Vision Corporation
905-238-3904
stephen.kilmer@tlcvision.com

Leslie Krohn
Vice President of Communications
GE Healthcare Financial Services
312-441-7710
leslie.krohn@ge.com