OccuLogix Receives Going Concern Qualification

BOSTON, MASSACHUSSETTS--(CCNMatthews - March 15, 2007) -OccuLogix, Inc. (NASDAQ:OCCX)(TSX:OC) announced today that that itsfinancial statements for the fiscal year ended December 31, 2006,included in the Company's Annual Report on Form 10-K filed on March15, 2007, contain a going concern qualification from its independentaccounting firm, Ernst & Young LLP.

As of December 31, 2006, the Company had cash and cash equivalentsand short term investments of $15.5 million. The Company noted thatthis amount does not include any of the net proceeds from itspreviously announced $10 million private placement of securities toinstitutional investors which closed on February 6, 2007. The Companybelieves that these proceeds, together with the Company's existingcash, will be sufficient to cover its operating activity and otherdemands until early 2008.

This announcement is being made in compliance with NasdaqMarketplace Rule 4350(b)(1)(B), which requires separate disclosure ofreceipt of an audit opinion that contains a going concernqualification. This announcement does not represent any change oramendment to the Company's 2006 financial statements or to its AnnualReport on Form 10-K.

About OccuLogix, Inc.

OccuLogix is building a leading company focused on ophthalmicdevices for the diagnosis and treatment of age-related eye diseases.Visit us on the internet at www.occulogix.com (corporate). Additionalinformation on the Company's RHEO(TM) procedure to treat Dry AMD canbe found at www.rheo.com. To learn more about the Company's SOLX(R)Gold Shunt and SOLX(R) 790 Laser for the treatment of glaucoma,please visit www.solx.com.

Forward-Looking Statements

This press release may contain forward-looking statements. Thesestatements relate to future events and are subject to risks,uncertainties and assumptions about the Company. These statements areonly predictions based on our current expectations and projectionsabout future events. You should not place undue reliance on thesestatements. Actual events or results may differ materially. Manyfactors may cause our actual results to differ materially from anyforward-looking statement, including the factors detailed in ourfilings with the Securities and Exchange Commission and Canadiansecurities regulatory authorities, including but not limited to ourForms 10-K and 10-Q. We do not undertake to update any forward-looking statements.