MENTOR REPORTS THIRD QUARTER FINANCIAL RESULTS
WITH DOUBLE-DIGIT SALES AND EARNINGS GROWTH
AND RAISES GUIDANCE

•     Sales Increased to $120.6 Million in the Third Quarter Fiscal Year 2005, an Increase of 13% from the
  Prior Year

•     Raises Sales Guidance for Fiscal Year 2005 to a range of $475 Million to $480 Million

•     Diluted Earnings Per Share Were $0.34 in the Third Quarter Fiscal Year 2005, an Increase of 31% from
  the Prior Year

•     Raises EPS Guidance for Fiscal Year 2005 to a range of $1.33 to $1.35

SANTA BARBARA, February 2, 2005 - Mentor Corporation (NYSE:MNT), a leading supplier of medical products in the United States and internationally, today announced diluted earnings per share (EPS) of $0.34 for the third quarter fiscal year 2005, ended December 31, 2004.  The Company raised its full-year guidance and expects fiscal year 2005 diluted EPS to be in a range of $1.33 to $1.35.

"In addition to reporting double digit sales and EPS growth, Mentor delivered significant operating leverage in the quarter," commented Joshua H. Levine, President and Chief Executive Officer of Mentor.  "We advanced two key facial aesthetics development programs, our Hyalite^TM hyaluronic acid-based dermal filler program and our botulinum toxin type A program.  We were also recently notified that our pending silicone gel breast implant product approval submissions will be reviewed by advisory panels in Canada and the U.S. within the next two months."

Product Sales
Total sales increased 13% to $120.6 million in the third quarter versus $106.5 million in the same period prior year.  The Company increased its full-year guidance and expects fiscal year 2005 total sales to be in a range of $475 million to $480 million.

•        Aesthetics Segment
         Mentor's Aesthetics business segment continued its solid double digit growth driven by breast implant sales.  Third
         quarter 2005 Aesthetics sales were $63.2 million, up 15% from sales in the third quarter 2004.

•        Surgical Urology Segment
   Mentor's Surgical Urology business segment also recorded double-digit sales growth, led by the women's health
   franchise.  Third quarter 2005 Surgical Urology product sales were $31.9 million, up 20% from sales in the third
   quarter 2004.

•        Clinical and Consumer Healthcare Segment
         Mentor's Clinical and Consumer Health product sales were $25.5 million, up 2% from sales in the third quarter 2004.
         Sales growth during the quarter was negatively impacted by several reimbursement changes, most notably by
         Medicare and Medi-Cal.

Product Development Pipeline
Mentor achieved several significant milestones in its product development pipeline focused on the Company's dermal filler and botulinum toxin programs, and the silicone gel-filled breast implant pre-market approval (PMA) program.

•        Dermal Filler Program
   Mentor is developing a next-generation hyaluronic acid-based dermal filler supported by its proprietary
   manufacturing process.  Mentor completed enrollment in its U.S. clinical development program for its proprietary,
   non-animal based, stabilized hyaluronic acid dermal filler product, Hyalite, formulated with lidocaine for improved
   patient comfort.  While all patients participating in the study will be followed for twelve months, Mentor plans to
   submit six-month data as part of its PMA application. 

•        Botulinum Toxin Program
         Mentor is developing a next-generation botulinum toxin type A product based on proprietary technology that yields
         a purer formulation than other commercially available botulinum products.  During the quarter, the Company
         initiated the U.S. phase 1 dose escalation study for the cosmetic indications.

•        Silicone Gel-Filled Breast Implants
         The U.S. Food and Drug Administration notified Mentor that the Company's pending PMA for its smooth and
         textured silicone gel-filled breast implants will be reviewed by the Agency's General and Plastic Surgery Advisory
         Panel at a meeting scheduled for April 11-13, 2005.  Additionally, the Therapeutic Products Directorate of Health
         Canada has informed Mentor that it will convene an Expert Advisory Panel meeting on March 3, 2005, to review
         the Company's pending device license applications for its smooth and textured silicone gel-filled breast implants
         and for its Contour Profile Gel products.  Mentor currently manufactures and sells round and shaped silicone gel
         breast implants in more than fifty countries worldwide.

Financial Results
Mentor reported a significant improvement in leverage during the quarter with 13% sales growth, 18% growth in gross profit, 34% operating earnings growth and 31% growth in earnings per share.  Detailed financial statements are attached to this press release.

•       Sales
  Total sales in the third quarter 2005 were $120.6 million, up 13% from $106.5 million in the third quarter 2004.
  Included in the third quarter 2005 results were $3.6 million of positive foreign currency exchange effects, principally
  from the strong Euro.  A schedule of product sales by business segment and product franchise is attached to this
  press release and may be found in the investor relations section of the Company's website.

•       Gross Profit
  Gross profit for the third quarter 2005 was $77.7 million, or 64% of sales, compared to $66.0 million, or 62% of sales,
  in the third quarter 2004.  Key contributors to the improvement in Mentor's gross profit margin were improved
  manufacturing efficiencies, strong sales of higher margin products and lower materials cost.

•       Sales, General & Administrative
  Sales, general and administrative (SG&A) expense in the third quarter 2005 was $45.4 million, or 38% of sales,
  compared to $40.6 million, also 38% of sales, in the third quarter 2004.  Key contributors to the increase during
  the quarter were expenses related to Mentor's direct to consumer advertising program, compensation related
  expenses and expenses related to the Company's silicone gel breast implant PMA.

•       Research & Development
  Research and development (R&D) expense in the third quarter 2005 was $8.1 million compared to $7.2 million
  in the third quarter 2004.  During the quarter, Mentor's investment in R&D supported key product development
  programs.

•       Income Tax
  Income tax in the third quarter 2005 was $7.8 million, reflecting a 32% effective tax rate, the same rate as in the
  third quarter 2004. 

•       Diluted Shares Outstanding
  Mentor's shares used in the diluted EPS calculation for the third quarter 2005 were approximately 50.0 million
  shares, compared to a restated 48.8 million for the third quarter 2004.  In accordance with a recently adopted
  accounting rule related to the accounting treatment for convertible debt, the Company increased the number of
  shares used for its diluted earnings per share calculation to reflect the additional shares that would result from
  conversion of the Company's convertible notes into common shares.  This increase was partially offset by
  repurchases of approximately 2.3 million shares late in the quarter. 

•       Earnings per Share
  Diluted earnings per share (EPS) in the third quarter 2005 were $0.34, a 31% increase over diluted earnings
  per share of $0.26 in the third quarter 2004.  The Company raised its full-year guidance and expects fiscal
  year 2005 earnings per share to be in a range of $1.33 to $1.35. 

        In accordance with the new accounting rule which applies to Mentor's convertible debt, the Company restated its
        previously reported diluted earnings per share for the first and second quarters of fiscal year 2005 to reflect the
        retroactive application of the rule as of the December 2003 issuance of Mentor's convertible notes.  A calculation
        of the Company's earnings per share is attached to this press release and may be found in the investor relations
        section of the Company's website.

•       Dividend
  Mentor increased its dividend to $0.17 per share in the third quarter 2005, compared to $0.15 per share in the third
  quarter 2004. 

Conference Call
Mentor Corporation has scheduled a conference call today regarding this announcement.  Those interested in listening to a recording of the call may dial (800) 934-3033 at 6:00 p.m. EST today until Midnight EST, February 9, 2005.  You may also listen to the live webcast at 5:00 p.m. EST today or the archived call at www.mentorcorp.com, Investor Relations site under "Conference Calls".

About Mentor Corporation
Founded in 1969, Mentor Corporation is a leading supplier of medical products for the global healthcare market.  The Company develops, manufactures and markets innovative, science-based products for the aesthetics, urologic specialties and clinical and consumer healthcare markets around the world.  The Company's website is www.mentorcorp.com.

Safe Harbor Statement
All statements included or incorporated by reference in this release, other than statements or characterizations of historical fact, are forward-looking statements.  These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us.  Forward-looking statements can often be identified by words such as "anticipates," "scheduled", "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue", similar expressions, and variations or negatives of these words.  In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  These forward-looking statements speak only as of the date hereof and are based upon the information available to us at this time.  Such information is subject to change, and we will not necessarily inform you of such changes.  These statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict.  Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statement as a result of various factors.

Important factors that may cause such a difference for Mentor include, but are not limited to competitive pressures and other factors such as the introduction or regulatory approval of new products by our competitors and pricing of competing products and the resulting effects on sales and pricing of our products, disruptions or other problems with our sources of supply, significant product liability or other claims, difficulties with new product development and market acceptance, changes in the mix of our products sold, patent conflicts, product recalls, United States Food and Drug Administration (FDA) delay in or approval or rejection of new or existing products, changes in Medicare, Medicaid or third-party reimbursement policies, changes in government regulation, use of hazardous or environmentally sensitive materials, our inability to implement new information technology systems, our inability to integrate new acquisitions, and other events.

Our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8‑K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition.  We undertake no obligation to revise or update publicly any forward-looking statement for any reason.

Contact:

Mentor Corporation
Peter R. Nicholson
Vice President, Corporate Development
(805) 879-6082