In addition, Nyer and DAW have also entered into a definitive agreement with certain management investors for the sale of the stock of DAW following the closing of the Walgreens transaction, under which Nyer will receive a benefit of $1.5 million after giving effect to liabilities to be retained by DAW.

In conjunction with these transactions, following which Nyer would have no remaining assets other than the cash received from the transactions, Nyer intends to proceed with the orderly liquidation and dissolution of Nyer Medical Group.

The completion of the asset sale to Walgreens, sale of DAW stock to investors and plan of dissolution are each subject to certain closing conditions, including the approval of Nyer's shareholders. The transactions are expected to close within the next 90 days.

Mark Dumouchel, president of DAW and Nyer Medical Group, said: As president of DAW and Nyer Medical Group, my primary duty is to maximize shareholder value, which I believe these transactions do. However, I am happy to say that Walgreens's interest in Eaton Apothecary has been beyond buying only pharmacy files - it will continue to operate a majority of the 12 pharmacies as well as hire all eligible employees at the 12 locations."

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10/26/2009 $1.21 381,333 529,464 -148,131 Bullish Bias

10/23/2009 -$0.06 3,900 10,300 -6,400 -1,067

10/22/2009 -$0.01 200 730 -530 -530

10/20/2009 -$0.03 0 150 -150 -50

10/19/2009 -$0.01 3,570 8,132 -4,562 -4,562

10/16/2009 $0.07 1,900 0 1,900 271

10/15/2009 -$0.08 4,127 6,774 -2,647 -331

10/14/2009 $0.06 5,871 6,550 -679 Bullish Bias

10/13/2009 $0.01 11,400 5,000 6,400 6,400

10/12/2009 -$0.08 6,600 8,014 -1,414 -177

10/9/2009 $0.00 2,000 2,800 -800 0

10/6/2009 $0.00 2,600 3,400 -800 0

10/5/2009 -$0.01 1,369 3,800 -2,431 -2,431

10/2/2009 $0.01 8,490 7,472 1,018 1,018

10/1/2009 -$0.10 4,874 7,187 -2,313 -231

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http://www.buyins.com/ff/nyerff10-26-09.jpg

Analysis of Friction Factor shows there is very low price friction in either direction and NYER has the potential for large price swings. The stock is up 167% today at the time this report was written.

Friction Factor determines if there is normal or abnormal behavior in the price action of the stock when compared to the buying vs. selling trading statistics. It calculates number of net shares of buying or selling to move price +/- one cent.

Here is how to understand Friction Factor:

1. If Friction Factor is positive, more buying than selling caused the stock price to rise 2. If Friction Factor is negative, more selling than buying caused the stock price to fall 3. If Friction Factor is 0, there was no discernable activity either way 4. If Friction Factor is abnormal, it means that there is either a bearish bias or a bullish bias to how market makers are making market in your stock.

Nyer Medical Group, Inc. (NASDAQ: NYER), through its subsidiary, D.A.W., Inc., owns and operates a chain of retail pharmacies in the suburban Boston, Massachusetts. The company also provides pharmacy management services to various not-for-profit entities. As of June 30, 2009, it owned and operated 25 retail pharmacies. The company was founded in 1988 and is based in Holliston, Massachusetts.

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In conjunction with these transactions, following which Nyer would have no remaining assets other than the cash received from the transactions, Nyer intends to proceed with the orderly liquidation and dissolution of Nyer Medical Group, Inc.

"As President of DAW and Nyer Medical Group, my primary duty is to maximize shareholder value, which I believe these transactions do," said Mark Dumouchel. "However, I am happy to say that Walgreens' interest in Eaton Apothecary has been beyond buying only pharmacy files -- they will continue to operate a majority of the 12 pharmacies as well as hire all eligible employees at the 12 locations. In addition, the sale of our subsidiary's stock to an investor group insures that virtually all employees will retain their positions while all our customers will continue to receive the quality service to which they have grown accustomed. We believe these transactions together, yield the best outcome for our shareholders, customers and employees."

The completion of the asset sale to Walgreens, sale of DAW stock to investors and plan of dissolution are each subject to certain closing conditions, including the approval of Nyer's shareholders. The transactions are expected to close within the next 90 days.

About Nyer Medical Group

Nyer Medical Group, Inc., is a holding company that, through its pharmacy subsidiary, operates pharmacies and provides pharmacy management services to various not-for-profit entities in the greater Boston area.

For further information contact Mark Dumouchel (508) 429-8506, extension 16.

Safe Harbor for Forward-Looking Statements

Certain statements contained in this press release are forward looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements are generally identified by the inclusion of phrases such as "we expect," "we anticipate," "we believe," "we estimate," and other phrases of similar meaning. These forward-looking statements are based on our management's current expectations and beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations, including the risk that we may fail to consummate the transactions contemplated by our agreements with Walgreens and investors in DAW or liquidate Nyer. You should not rely upon these forward-looking statements as predictions of future events because we cannot assure you that the events or circumstances reflected in these statements will be achieved or will occur. For example, the description regarding the expected closing time for the sales and liquidation involves a forward looking statement. The closing of the transactions is subject to certain closing conditions set forth in the agreement including the approval of Nyer's shareholders; these conditions may be delayed or may not occur, causing the closing to occur at a later date than expected or not at all. Except as required by law, Nyer undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Additional factors are described under "Part I. Item 1. A. - Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Except as required by law, Nyer Medical Group undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Additional Information and Where to Find It

In connection with the proposed transactions, Nyer Medical Group, Inc. ("Nyer") will file a proxy statement and other relevant documents with the Securities and Exchange Commission ("SEC"). NYER SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE AS IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS AND RELATED MATTERS. NYER SHAREHOLDERS WILL HAVE ACCESS TO FREE COPIES OF THE PROXY STATEMENT (WHEN AVAILABLE) AND OTHER DOCUMENTS FILED WITH THE SEC BY NYER THROUGH THE SEC WEBSITE AT WWW.SEC.GOV. THE PROXY STATEMENT AND RELATED MATERIALS MAY ALSO BE OBTAINED FOR FREE (WHEN AVAILABLE) FROM NYER BY DIRECTING A REQUEST TO: NYER MEDICAL GROUP, INC., 13 WATER STREET, HOLLISTON CORPORATION, MASSACHUSETTS 01746, ATTENTION: CHIEF EXECUTIVE OFFICER, TELEPHONE: (508) 429-8506.

Nyer and its directors and executive officers and other members of management and employees may be deemed to participate in the solicitation of proxies in respect of the proposed transactions. Information regarding Nyer's directors and executive officers is available in Nyer's annual report on Form 10-K for the year ended June 30, 2009, which was filed with the SEC on September 28, 2009. Additional information regarding the interests of such potential participants will be included in the proxy statement and the other relevant documents filed with the SEC when they become available.

SOURCE Nyer Medical Group, Inc.

http://www.nyermedicalgroup.com

Net loss for the fourth quarter of fiscal year 2009 was $33,338 or $0.01, compared to net income for the fourth quarter of fiscal year 2008 of $345,184 or $0.09 per diluted share. Net loss for fiscal year 2009 was $93,859 or $0.02 per diluted share and was comprised of a loss from continuing operations of $256,076 or $0.06 per diluted share and gain from discontinued operations, net of tax, of $162,217 or $0.04 per diluted share. The net loss for fiscal year 2008 was $109,472 or $0.03 per diluted share (net of deemed dividend on redemption of preferred stock of $399,997) and was comprised of loss from continuing operations (net of deemed dividend on redemption of preferred stock) of $255,082 or $0.06 per diluted share and gain from discontinued operations, net of tax, of $145,610 or $0.03 per diluted share. The increased losses in both the fourth quarter and for fiscal year 2009 as compared to the comparable periods in 2008 were primarily due to increased costs and expenses, mainly selling, general and administrative expenses, primarily due to the five newly opened pharmacies where the Company has constructed an operating infrastructure capable of supporting the assisted living community, where the Company is planning to increase its market share.

"The organizational restructuring of the Company continued into the fourth quarter of fiscal 2009," President and CEO Mark Dumouchel said. "During the quarter, we closed a non-profitable location and simultaneously retained the majority of its revenue base by transferring its prescription records to other pharmacy locations." Mr. Dumouchel further stated, "We continue to remain confident that our investment in our growth initiatives will be profitable for us and beneficial to our shareholders."

About Nyer Medical Group

Nyer Medical Group, Inc., is a holding company that through its pharmacy subsidiary operates pharmacies and provides pharmacy management services to various not-for-profit entities in the greater Boston area.

For further information contact Mark Dumouchel (508) 429-8506, extension 16.

Availability of Form 10-K

The Company's Annual Report on Form 10-K for the year ended June 30, 2009 is available on the Company's website at: www.nyermedicalgroup.com. Shareholders may receive a hard copy free of charge upon request.

Safe Harbor for Forward-Looking Statements

Certain statements contained in this press release are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These statements are generally identified by the inclusion of phrases such as "we expect", "we anticipate", "we believe", "we estimate" and other phrases of similar meaning. For example, the statements regarding restructuring and growth initiatives that will prove to be profitable and beneficial to shareholders all involve forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. Such factors include, but are not limited to: The continued growth in prescription volume at newly opened locations and success in consolidation of administration and elimination of overhead. Additional factors are described under "Part I. Item 1. A. - Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Except as required by law, Nyer Medical Group undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

                                      NYER MEDICAL GROUP, INC.
                                      Selected Quarterly Data

                          For the 3 months ended      For the year ended
                                  June 30                  June 30
                          ----------------------      ------------------
                             2009         2008        2009         2008
                             ----         ----        ----         ----
                                       (restated)               (restated)
    Net revenues         $19,512,082  $17,876,644 $74,722,844  $68,595,014
    Income (loss) from
     continuing
     operations              (36,025)     333,726    (256,076)     144,915
    Net gain from
     discontinued
     operations,
     net of tax                2,687       11,459     162,217      145,610
    Net (loss) income        (33,338)     345,184     (93,859)     290,525
    Deemed dividend on
     redemption of
     preferred stock               -            -           -     (399,997)
    Net income (loss)
     attributable to
     common shareholders     (33,338)     345,184     (93,859)    (109,472)
    --------------------     -------      -------     -------     --------

    Basic and diluted
     earnings per share:
    Earnings (loss) per share,
     continuing operations,
     net of deemed dividend
     on redemption of
     preferred stock          $(0.01)       $0.08      $(0.06)      $(0.06)
    Earnings per share,
     discontinued
     operations                    -         0.01        0.04         0.03
                                ----         ----        ----         ----
      Earnings (loss) per
       share attributable to
       common shareholders    $(0.01)       $0.09      $(0.02)      $(0.03)
                              ======        =====      ======       ======

SOURCE Nyer Medical Group, Inc.

http://nyermedicalgroup.com