Press Release February 21, 2007

Palomar and Gillette Expand Their Development Collaboration

Feb. 21, 2007 — Palomar Medical Technologies Inc., a leading researcher and developer of light-based systems for cosmetic treatments, today announced that Palomar and The Gillette Company, part of The Procter & Gamble Company, agreed to expand the Joint Development Program they initiated in February of 2003. The expanded program will focus on the development of an additional home use, light-based hair removal device for women.

Goodwin Procter attorneys Kevin Lam and Kingsley Taft represented Palomar in this matter. Taft represented Palomar in its first deal with Gillette in 2003.