Exhibit 99.3  BMCBMC Industries, Inc.One
  Meridian Crossings, Suite 850Minneapolis,
  MN 55423Website:  www.bmcind.comNEWS RELEASE  CONTACT:
  KATHLEEN P. PEPSKI
  (NYSE:  BMC)(952) 851-6030
  FOR IMMEDIATE RELEASE BMC Industries Fourth Quarter and Full Year 2000
Earnings Rise;
Fiscal 2000 EPS $0.54 February 1, 2001  Minneapolis, Minnesota,
USA - BMC Industries, Inc. reported consolidated net earnings for the fourth
quarter ended December 31, 2000 of $4.4 million, or $0.16 per diluted share.  This compares to breakeven performance of
$0.1 million, or $0.00 per diluted share, in the fourth quarter of 1999.  Consistent with the Companys news release
on December 13, 2000, fourth quarter 2000 consolidated revenues were $81.3
million, a decrease of 7% from the $87.5 million posted in fourth quarter
1999.  Excluding the impact from foreign
currency exchange rate changes during fourth quarter 2000, consolidated
revenues would have decreased 3% from the prior year quarter. For the fiscal year ended December 31, 2000,
total revenues were $354.5 million, a slight increase over revenues of $353.9
million in 1999.  Excluding the impact
from foreign currency exchange rate changes during the year, total revenues
would have increased 3% over total revenues in 1999.  Net earnings for fiscal year 2000 were $14.9 million, or $0.54
per diluted share, versus $7.8 million, or $0.28 per diluted share, in fiscal
year 1999. Buckbee-Mears strong earnings performance in the fourth quarter caps
off a very good year 2000 for our Mask Operations, said BMC Chairman and Chief
Executive Officer Paul B. Burke.  The
groups fourth quarter operating earnings of $7.7 million and operating margin
of 14.6% were the highest quarterly figures in over three years and were achieved
despite challenging markets for personal computer and television sales and
ongoing investments being made to strategically reposition our Non-Mask
business. Mr. Burke continued, Despite the softness we experienced in the
optical retail market late in the year, Vision-Ease posted continued strong
revenue growth in fourth quarter 2000 with respect to the Companys high-end,
value-added product lines as compared to 1999. 
Sales of Vision-Eases Tegraâcoated
polycarbonate and Outlookäpolycarbonate progressive lenses increased substantially, as did sales of the
Companys SunSportänon-ophthalmic and SunRxâpolarized
polycarbonate lenses. Buckbee-Mears Group

Fourth quarter revenues for the Buckbee-Mears
group, which includes both Mask Operations and Non-Mask Operations were $52.7
million in 2000, a decrease of $5.6 million, or 10%, from the $58.3 million of
revenues reported in 1999. 
Buckbee-Mears sales continued to be negatively impacted by foreign
currency translation during the quarter. 
Excluding the impact of foreign currency translation, fourth quarter
2000 revenues for the group would have decreased 4% from the prior year
quarter.

For the full year, Buckbee-Mears group sales
decreased 1% to $214.9 million in 2000 as compared to $217.9 million in 1999.  Excluding the impact of foreign currency
translation, group revenues would have increased 3% year over year.  Operating earnings for 2000 were $25.1
million, an increase of $1.2 million, or 5%, as compared to $23.9 million in
1999.

Sales of entertainment masks were relatively
flat in fourth quarter 2000 as compared to the prior year quarter with some
weakness experienced at year-end in the NAFTA region.  However, we continue to experience a favorable shift in product
mix fueled by increased demand, particularly in Europe, for flat and widescreen
(16:9 format) televisions.  Sales of
computer monitor masks decreased 16% in fourth quarter 2000 when compared to
fourth quarter 1999 as a result of the global softening in demand for personal
computers and year-over-year price reductions. 
Sales of monitor masks were also negatively impacted versus fourth
quarter 1999 by the Companys decision to utilize monitor mask production
capacity for HDTV and other higher-margin entertainment products, thus
displacing lower-margin monitor volumes.

Buckbee-Mears fourth quarter 2000 operating
earnings of $7.7 million represent an increase of $0.4 million from the $7.3
million earned in fourth quarter 1999. 
Operating earnings in fourth quarter 2000 were driven by a favorable
shift in product mix related to both television masks, as discussed earlier,
and larger-size computer monitors.  In
addition, margins were helped by product cost reductions derived from yield
improvements and automated inspection equipment installed in 2000. The group
was also aided by the restarting of the idled entertainment manufacturing line
in Cortland, New York, dedicated primarily to the production of medium-sized,
commodity entertainment masks, which provided additional absorption of the
groups overall fixed overhead expenses. 
Partially offsetting this strong operating performance were higher
selling costs primarily due to increased freight expenses.

In fourth quarter 2000, our Non-Mask
Operations continued to experience negative sales and earnings comparisons to
fourth quarter 1999.  Despite lower
revenues, the group continued to invest in the engineering, and sales and
marketing infrastructure that we believe will drive substantial growth in new
products and new market segments.

Optical Products Group

BMCs Optical Products group reported
revenues of $28.7 million in the fourth quarter of 2000, down 2%, or $0.5
million, from the prior year quarter. 
Vision-Ease sales were negatively impacted primarily by overall softness
in the optical retail market, as well as by constrained capacity limiting our
ability to meet demand in several premium product categories.  Sales of the groups high-end, value-added
products (including polycarbonate, progressive and polarizing sun lenses)
during fourth quarter 2000 increased 14% from fourth quarter 1999 and accounted
for 62% of total fourth quarter 2000 revenues, as compared to 54% of total
fourth quarter revenues in 1999. 
Partially offsetting this strong high-end product performance were glass
and plastic lens sales, which were down 25% and 16%, respectively, in fourth
quarter 2000 as compared to the prior year quarter, due principally to soft
market conditions, overall market dynamics in these product categories and
continuing plastic lens supply issues.

High-end
sales growth was due primarily to strong sales of Tegraâ
coated polycarbonate lenses and Outlookä
progressive polycarbonate lenses. 
Together, fourth quarter 2000 sales of these products were up 53% over
the same period last year.  Polarized
polycarbonate sun lenses also continued their strong revenue momentum.  Vision-Eases prescription SunRxâ
lens business grew a dramatic 139% in fourth quarter 2000 over the same period
in 1999.  In addition, Vision-Eases
non-ophthalmic SunSportä lens business delivered sales growth of 37% in
fourth quarter 2000 over the same period a year ago.

Optical Products fourth quarter earnings
were $1.0 million in 2000, compared to a loss of $3.8 million in 1999.  Fourth quarter 2000 operating margin was
3.4%, which was a significant improvement from the negative 13.0% margin posted
in fourth quarter 1999.  Last years
results were negatively impacted by poor product cost performance.  The groups fourth quarter 2000 operating
earnings were significantly below third quarter 2000, primarily as a result of
a decline in quarter to quarter sales driven by the weakness in the retail
market noted, normal year-end seasonality and investments made in our European
laboratory and sales infrastructure.

For the full year, Vision-Ease sales grew
from $136.0 million in 1999 to $139.6 million in 2000, a 3% increase.  High-end, value-added sales in 2000
increased 20% as compared to 1999, with much of the growth offset by the
contraction of glass and plastic sales. 
For the full year, sales of Tegraâ
coated polycarbonate lenses and Outlookä
progressive polycarbonate lenses in 2000 grew 176% over 1999.  SunRxâ
and SunSportä
revenues in 2000 increased 66% and 64%, respectively, over sales in 1999 and
carry strong market momentum into 2001. Operating earnings for the year
increased substantially to $11.4 million in 2000 from $5.7 million in 1999.

Other Items

During the fourth quarter of 2000, the
Company recorded in other income a gain in connection with the termination of
its post-retirement medical benefits. 
The Companys effective tax rate for the year 2000 was 30%, down
significantly from the 39% recorded in 1999 due to the Companys year-end
domestic/foreign earnings mix, ongoing tax initiatives and a nonrecurring tax
charge in 1999.

Total debt at December 31, 2000 was $145.0
million compared to $168.3 million at December 31, 1999, or a decrease of $23.3
million.  Capital expenditures during
the fourth quarter of 2000 were $4.0 million versus $4.1 million in the same
quarter last year, bringing total capital expenditures, excluding acquisitions,
for the year to $11.9 million, down slightly from the $13.2 million spent in
1999.

Business Outlook

The following statements are based on current expectations.  These statements are forward-looking, and
actual results may differ materially from those projected in this news
release.  We caution the reader not to
place undue reliance on these statements and encourage the reader to read the
Business Outlook section in conjunction with the Safe Harbor for Forward-Looking
Statements that follows the Full Year 2001 section.

First Quarter 2001

The Buckbee-Mears group is cautious in forecasting the market
environment for televisions, particularly in NAFTA, and personal computers
given the well-publicized slowdown in demand. 
As a consequence, revenues for this group are projected to be relatively
flat and earnings down somewhat in the first quarter of 2001 as compared to
first quarter 2000 as mask customers react to ongoing reduced demand and adjust
their inventory positions accordingly. 
In addition, during January we shut down two entertainment lines in our
Cortland, N.Y. plant to complete the installation of automated inspection
equipment.

The Optical Products group projects first quarter 2001 premium product growth
to continue in excess of 10% and total revenues to increase slightly over the
first quarter of 2000.  Profitability
should improve in first quarter 2001 from the same period in 2000.  However, one-time costs will be incurred in
the quarter as this group closes several distribution centers and completes the
transfer of U.S. glass manufacturing to its Jakarta, Indonesia facility.

Full Year 2001

The Company is expecting the demand for its
products in both operating groups to rebound in early to mid-2001 and is
currently projecting overall revenue growth for the year to be in the mid to
high single digits.  We expect
consolidated earnings for 2001 to grow 12% to 15% over net income reported for
2000.

We anticipate that Buckbee-Mears group
earnings growth for 2001 will be driven by an increase in Non-Mask
profitability; continued favorable trends for digital and widescreen
television, particularly in Europe; and continued migration to larger-size,
higher-margin computer monitors.

Vision-Ease is forecasted to continue to
experience strong growth in premium products as polycarbonate lenses continue
to gain market share domestically and abroad. 
Major initiatives, including expanding our facility in Jakarta,
Indonesia; polycarbonate cost reductions; and consolidation of several product
distribution centers, will continue and are expected to enhance the 2001
earnings performance for this group.

Safe Harbor for
Forward-Looking Statements

This news release contains various
Forward-Looking Statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
that are intended to be covered by the safe harbors created thereby.  Statements made in this news release that
are not statements of historical facts, including statements regarding future
performance, are Forward-Looking Statements. 
Forward-Looking Statements may be identified by the use of words such as
anticipates, estimates, expects, projects, intends, plans,
predicts, and similar expressions. 
Forward-Looking Statements are subject to a number of risks and
uncertainties that could cause actual results or outcomes to differ materially
from those projected, including, among others, rebound in demand for
televisions, computer monitors and ophthalmic lenses; further mask and
ophthalmic lens price declines, particularly for computer monitor masks, and
imbalances of supply and demand; slowdown in growth of high-end products;
rising raw material and chemical costs; ability to improve operating and
manufacturing efficiencies including efficient installation of automated
inspection equipment on the remaining entertainment lines at the Cortland, N.Y.
facility; ability to meet customer new product qualifications; consumer demand
for direct-view high-definition television and digital receivers; competition
with alternative technologies and products, including laser surgery for the
correction of visual impairment and liquid crystal, plasma, projection and
other types of visual displays; ability to implement the Optical Products
groups initiatives in strategic polycarbonate marketing and manufacturing
sourcing; ability to gain market share of polycarbonate products both
domestically and abroad, including growth in European sales through the operation
of processing laboratories; new product development, introduction and
acceptance; cost reduction and reorganization efforts; continued slowdown for
Non-Mask Operations; ability to diversify Non-Mask customer and product base
and partner with new and existing Buckbee-Mears customers or transition
development relationships into full-scale production; the effect of regional or
global economic slowdowns; adjustments to inventory valuations; liability and
other claims asserted against BMC; negative foreign currency fluctuations; and
ability to recruit and retain key personnel. 
Certain of these and other risks and uncertainties are discussed in
further detail in BMCs Annual Report and Form 10-K for the year ended December
31, 1999 and other documents filed with the Securities and Exchange Commission.

BMC Industries, Inc., through its Vision-Ease
Lens subsidiary, is a leading designer, manufacturer and distributor of
polycarbonate, glass and hard-resin plastic eyewear lenses.  BMC, through its Buckbee-Mears division,
also manufactures precision imaged products such as aperture masks and a
variety of photo-etched metal and electroformed parts.  BMC is the only North American manufacturer
of aperture masks, which are key components used in color television and computer
monitor picture tubes.  BMCs common
stock is traded on the New York Stock Exchange under the symbol BMC.  For more information about BMC Industries,
Inc., visit the Companys web site:  www.bmcind.com.

Investor Conference Call Information:Thursday, February 1, 2001
10:00 a.m. Central Time (11:00 a.m. Eastern Time)
Call-in Number: 800-288-8968 (U.S.) or 612-332-0530 (International)
Replay Number: 800-475-6701 (U.S.) or 320-365-3844 (International)
Replay Access Code:  563344The
rebroadcast of the conference call will be available starting at 12:30 p.m.
Central Time, February 1, 2001 through 11:59 p.m. Central Time, February 5,
2001.

The conference call will also be offered live, through a simulcast
offered by CCBN.com and StreetEvents.com. 
To access this Webcast, go to the Investor Relations portion of the
Companys Web site, www.bmcind.com
and click on the CCBN.com icon.

BMC INDUSTRIES, INC.

CONDENSED
CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(in thousands, except per share amounts)

Three Months Ended
  December 31
  Year Ended
  December 312000
  1999
  2000
  1999Revenues
  $81,318
  $87,549
  $354,485
  $353,854Cost of products sold
  68,232
  79,577
  300,795
  305,592Gross
  margin
  13,086
  7,972
  53,690
  48,262Selling
  4,418
  4,498
  17,163
  18,650Administration
  1,331
  990
  5,389
  4,702Income from Operations
  7,337
  2,484
  31,138
  24,910Other Income and (Expense)Interest expense
  (3,174)
  (3,238)
  (13,115)
  (13,376)Interest income
  84
  122
  282
  277Other income
  1,567
  1,466
  2,838
  1,036Earnings before Income Taxes
  5,814
  834
  21,143
  12,847Income Tax Expense
  1,427
  782
  6,243
  5,023Net Earnings
  $4,387
  $52
  $14,900
  $7,824Net Earnings Per Share:Basic
  $0.16
  $0.00
  $0.54
  $0.29Diluted
  0.16
  0.00
  0.54
  0.28Number of Shares Included in Per Share
  Computation:Basic
  27,400
  27,370
  27,396
  27,299Diluted
  27,669
  27,668
  27,623
  27,710



BMC
INDUSTRIES, INC.

CONDENSED
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)

December 31
  December 312000
  1999ASSETSCurrent AssetsCash and cash equivalents
  $2,290
  $1,146Trade accounts
  receivable, net
  45,645
  42,025Inventories
  82,015
  82,312Deferred income taxes
  17,954
  11,588Other current assets
  11,455
  12,580Total
  Current Assets
  159,359
  149,651Property, plant and equipment
  276,568
  278,807Less accumulated depreciation
  137,069
  127,569Property, plant and
  equipment, net
  139,499
  151,238Deferred income taxes
  4,389
  9,761Intangibles assets, net
  65,180
  68,232Other assets
  5,377
  4,671Total Assets
  $373,804
  $383,553LIABILITIES AND STOCKHOLDERS EQUITYCurrent LiabilitiesShort-term borrowings
  $1,206
  $2,303Accounts payable
  33,939
  30,342Income taxes payable
  6,374
  8,093Accrued expenses and
  other current liabilities
  22,518
  20,080Total
  Current Liabilities
  64,037
  60,818Long-term debt
  143,810
  165,959Other liabilities
  17,080
  18,229Deferred income taxes
  2,079
  2,125Stockholders EquityCommon stock
  49,240
  49,077Retained earnings
  105,876
  92,620Accumulated other
  comprehensive income (loss)
  (6,669)
  (3,495)Other
  (1,649)
  (1,780)Total
  Stockholders Equity
  146,798
  136,422Total Liabilities and Stockholders Equity
  $373,804
  $383,553



BMC INDUSTRIES, INC.

SEGMENT INFORMATION
(Unaudited)
 (in thousands)

Three Months Ended December 31Buckbee-Mears
  Optical Products
  Consolidated2000
  1999
  2000
  1999
  2000
  1999Revenues
  $52,653
  $58,337
  $28,665
  $29,212
  $81,318
  $87,549Cost of products sold
  43,233
  49,892
  24,999
  29,685
  68,232
  79,577Gross margin
  9,420
  8,445
  3,666
  (473)
  13,086
  7,972Gross margin %
  17.9%
  14.5%
  12.8%
  (1.6)%
  16.1%
  9.1%Selling
  1,733
  1,176
  2,685
  3,322
  4,418
  4,498Unallocated corporate administration
  -
  -
  -
  -
  1,331
  990Income (Loss) from Operations
  $7,687
  $7,269
  $981
  $(3,795)
  $7,337
  $2,484Operating income %
  14.6%
  12.5%
  3.4%
  (13.0)%
  9.0%
  2.8%Capital spending
  
  
  
  
  $4,009
  $4,099Depreciation and amortization
  
  
  
  
  $5,716
  $6,334EBITDA
  
  
  
  
  $14,620
  $10,284EBITDA %
  
  
  
  
  18.0%
  11.7%