Mentor Corporation                                                  Coffin Communications Group
201 Mentor Drive                                                         15300 Ventura Blvd. Suite 303
Santa Barbara, CA 93111                                            Sherman Oaks, CA 91403
(805) 879-6082                                                           (818) 789-0100
Contact:  Christopher J. Conway, President                 Contact:  William F. Coffin, President

MENTOR REPORTS FIRST QUARTER RESULTS

SANTA BARBARA, California, July 30, 2003 -- Mentor Corporation today announced operating results for its first fiscal quarter ended June 30, 2003.

Net income was $16.0 million, or $0.33 per share, compared to $16.7 million, or $0.34 per share for the first quarter of fiscal 2003. 

Sales for the quarter were $105.1 million, an increase of 8% from $97.7 million last year and a new record level.  Excluding foreign currency fluctuations, the increase would have been 1%.

Christopher J. Conway, Chairman and CEO of Mentor, stated "We are pleased with our first quarter results.  Despite a difficult year-over-year comparison, we achieved earnings in-line with expectations and the highest level for the past 12 months. First quarter of fiscal 2003 was especially strong due to a catch-up of demand that had been postponed after September 11^th, 2001.  Our goal was to generate the same level of sales this year and we are encouraged that the growing demand in our international markets enabled the company to do even better."

Operating income of $22.5 million for the first quarter was slightly higher than last year, despite a 40% increase in R&D expenditures.  For the quarter, R&D spending rose to $7.5 million.  A decrease in interest and investment income, combined with a higher effective tax rate, brought net income below last year's level.  Foreign currency fluctuations had a negligible effect on income.

All three of Mentor's major market segments, aesthetic surgery, surgical urology and clinical and consumer healthcare, grew from the exceptionally strong first quarter of fiscal 2003.  

Aesthetic surgery sales reached a record level of $55.5 million, an increase of 3%. This market was primarily driven by world-wide breast implant sales, which were over $50 million and reached a new high.

Surgical urology sales increased by 7% overall, driven by strong growth overseas.

Clinical and consumer healthcare sales grew 21%, also driven primarily by international sales. 

"International sales now account for 40% of Mentor's total business," Conway said.  "I am very pleased with the outstanding growth of our business in Europe and the excellent performance of Mentor's employees overseas.

"Our financial position remains strong," Conway said.  "As of June 30, 2003, we had $428 million in assets, $125 million in cash and marketable securities, and no significant debt.  We believe that we are well-positioned to accelerate Mentor's product development and market expansion efforts, as well as augment our growth with further strategic acquisitions.  We are looking forward to another good year and maintain our 15% target growth rates for fiscal 2004 revenue and earnings." 

Mentor shares are currently traded on the NASDAQ under the symbol MNTR.  On August 5^th, Mentor shares will begin trading on the New York Stock Exchange under the symbol MNT. 

Mentor Corporation has scheduled a conference call today regarding this announcement.  Those interested in listening to a recording of the call may dial (800) 839-6713 {pass code: 5746403} at 6:00 p.m. ET today until Midnight ET, August 18, 2003.  You may also listen to the live webcast at 5:00 p.m. ET today or the archived call at www.mentorcorp.com, Investor Relations site under "Conference Calls."

About Mentor Corporation

 Mentor Corporation develops and manufactures specialized medical products, which it markets throughout the world.  This release contains, in addition to historical information, forward-looking statements.  Such statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements.  Factors that may cause such a difference include, but are not limited to, those described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2003. 

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