Fonar Corp (FONR)

[ProfitScout]

FONAR Sells 35th Stand-Up MRI; MRI Of America, LLC Buys First of Multiple Stand-Up MRI Systems; Plans A Total of Twenty Stand-Up MRI Purchases

Feb. 20, 2003--FONAR Corporation (NASDAQ-FONR), The MRI Specialist(TM), announced today the sale of its 35th Stand-Up(TM) MRI scanner to MRI of America, LLC based in Denver, Colorado. MRI of America, LLC has contracted to purchase a total of five Stand-Up(TM) MRIs before July 1, 2004 in order to achieve the maximum discounts under FONAR's volume purchase schedule. MRI of America (II), L.P. has already been organized. MRI of America (III), LLC and MRI of America (IV), LLC are in formation. Each entity plans to buy 5 scanners.

This is FONAR's second sale in Colorado. This Stand-Up(TM) MRI will open for business in Colorado's newest city - Centennial, Colorado: a new city, a new business, a new technology and a new corporate friend for FONAR.

Mr. Robert Conger, manager of MRI of America, said, "Our organization is very excited about this new technology and its ability to bring 'upright scanning' to the public together with its potential benefits to diagnose many different types of medical conditions that may be altered by position and therefore go undetected in lie-down scanners. Altogether we plan on installing twenty FONAR Stand-Up(TM) MRI scanners in several states over the next few years. FONAR Corporation and its management and support teams have made our first purchase, a very smooth one. They are a very professional and experienced company."

Raymond Damadian, president and founder of FONAR said, "Working with Mr. Conger has been very exciting for FONAR. Bob's vision and business plan are very well thought out. His company will be joining our ever expanding group of multiple Stand-Up(TM) MRI customers. This is very rewarding for FONAR."

Dr. Damadian continued, "As we sell more and more Stand-Up(TM) MRIs in more and more locations, we start to think about how many winners are involved in just one sale. The city that receives this technology - wins. The people hired to work there - win. The people that are scanned - win. The doctors that refer their patients - win. The new owners of the machine - win. FONAR wins and FONAR's stockholders - win."

Be sure to visit FONAR's Web site for Company product and investor information: http://www.fonar.com

CONTACT:
FONAR Corporation, Melville
Daniel Culver
Director of Communications
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David Terry
VP, Secretary
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SOURCE: FONAR Corporation