Coastal Contacts Announces Results of Annual and Special Meeting


VANCOUVER, British Columbia, March 30, 2010 (GLOBE NEWSWIRE) -- Coastal
Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal" or, the "Company") announces
that shareholders overwhelmingly approved all resolutions brought before them
at the Company's annual general and special meeting (the "AGM") held on March
26, 2010 in Vancouver, Canada. 

The following sets forth a summary of matters voted upon at the AGM, the
particulars of which are set out in more detail in the management proxy
circular of the Company dated February 23, 2010 (the "Proxy Circular"), and the
results of the vote: 

* Election of Directors: Stuart Belkin and Michaela Tokarski were duly elected
  as Class II directors of the Company to hold office until the annual meeting
  of shareholders of the Company to be held in 2013.
  
* Appointment of Auditors: KPMG LLP were appointed as auditors of the Company
  for the ensuing year and the directors were authorized to fix their
  remuneration. 
  
* Approval of Unallocated Options under the Company's Stock Option Plan: the 
  shareholders approved the unallocated stock options under the Company's stock
  option plan and authorized the stock option plan until March 26, 2013.
  
* Amendment to the Company's Stock Option Plan: the shareholders approved the
  amended and restated stock option plan of the Company substantially in the
  form attached as Appendix "A" to the Proxy Circular. 

The Company also announced today that Daniel Muhlbach, CEO of Coastal's wholly
owned European private subsidiary, Lensway AB, is no longer with the Company. 

Mr. Roger Hardy, Coastal's CEO, will assume the role of CEO of Lensway until a
replacement is named. 

About Coastal Contacts:

Coastal Contacts Inc. is the world's leading direct-to-consumer vision products
company which designs, produces and distributes a diversified offering of
contact lenses and eyeglasses.  The Company's unique combination of branded and
private label products represent quality, value and above all, service. 
Coastal sells into more than 150 countries through proprietary web properties
which reflect the culture and consumer preference of the target market.  As new
markets for eyeglasses and contact lenses evolve, the Company is positioned to
become the vision product consumer's retailer of choice owing to its compelling
value proposition combining value and service.  A leader in many of its
markets, Coastal is rapidly advancing toward its goal of becoming the "World's
Optical Store". 

Forward-Looking Statements

All statements made in this news release, other than statements of historical
fact, are forward-looking statements. The words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect",
"goal", "target", "should," "likely," "potential," "continue," "project,"
"forecast," "prospects," and similar expressions typically are used to identify
forward-looking statements. 

Forward-looking statements are based on the then-current expectations, beliefs,
assumptions, estimates and forecasts about our business and the industry and
markets in which we operate. Forward-looking statements are not guarantees of
future performance and involve risks, uncertainties and assumptions which are
difficult to predict. 

Persons reading this news release are cautioned that forward-looking statements
or information are only predictions, and that our actual future results or
performance may be materially different due to a number of factors. Reference
should also be made to the section entitled "Risk Factors" contained in our
most recently filed Annual Information Form dated January 29, 2010 and in the
NASDAQ OMX Stockholm listing prospectus dated October 14, 2009, as filed on
Sedar and with the Swedish Financial Supervisory Authority, for a detailed
description of the risks and uncertainties relating to our business. These
risks, as well as others, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
forward-looking statements and information, which are qualified in their
entirety by this cautionary statement. These forward-looking statements are
made as of the date of this news release and we expressly disclaim any intent
or obligation to update these forward-looking statements, unless we
specifically state otherwise and except as required by applicable law. 

CONTACT:  Coastal Contacts Inc.
          Terry Vanderkruyk, Vice President, Corporate Development
          604.676.4498
          terryv@coastalcontacts.com

Attachments

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