NORTH BAY BUSINESS JOURNAL EVENT

Best Places to Work 2008 Awards Reception

September 25, 2008, 5:30-7:30 p.m., Doubletree Hotel, Rohnert Park

2008 Going Green Conference: Building, Technology & Practices

Thursday, October 9, 2008, 7:30-11:45 a.m., Doubletree Hotel, Rohnert Park

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Petaluma’s Oculus lands $13.9 million in stock offering

PETALUMA, March 28, 2008 -- Oculus Innovative Sciences Inc. (Nasdaq: OCLS) today announced it expects to raise up to $13.9 million for a sale of its stock to institutional investors.

The deal, which includes up to 2.65 million shares of common stocks and warrants for 1.33 million more at $5.25 a share, is expected to close April 1.

The price of Oculus stock was $5.03 a share at mid-day Pacific Time, down from $5.50 at the opening of the market today.

The stock price soared as high as $7.25 Thursday on news of Chinese approval of Oculus' main product line of Microcyn wound treatment compounds. The closing price Thursday was $6.84 a share.

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