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To: BlueCheap who wrote (324)	10/15/1999 1:33:00 PM
From: BlueCheap	Read Replies (1) \| Respond to of 393

NEWS! FONAR BUYING their STOCK BACK Highlights! MELVILLE, N.Y.--(BUSINESS WIRE)--October 15, 1999--FONAR Corporation (NASDAQ-FONR), The Open MRI Company(tm), announced today that the company is strengthening its stock re-purchase program. It will purchase its shares on an on-going basis. In addition, an employee stock purchase plan is being considered for FONAR employees. FONAR's management and Board of Directors will make the decisions as to the timing and the number of shares to be re-purchased. Raymond Damadian, M.D., president and chairman of FONAR, said, "I am very pleased with the results of our recently-completed R&D. The images are better than, and the speeds are faster than, our other Open MRI competitors. We routinely perform many scans in under 6 minutes while having superior image quality and contrast. The superior image quality and the wide-open patient environment of our QUAD(tm) 12000 is an unbeatable combination in today's market place." Dr. Damadian, founder of the company and the inventor of MRI, said "The company has had many accomplishments recently which will turn into sales and prosperity. Besides the QUAD(tm) 12000, we have made tremendous progress in our works-in-progress scanners such as The Open Sky MRI(tm), FONAR OR-360(0) (tm) (MRI operating room) and The Stand-Up MRI(tm). I predict that we shall obtain FDA approval and begin shipping some of these works-in-progess scanners to customers in the year 2000." Timothy Damadian, president of FONAR's subsidiary Health Management Corporation of America (HMCA) said, "HMCA has had dynamic growth and profitability since its inception, adding approximately $10 million in sales each year." Be sure to visit FONAR's Web site for Company product and investor information. fonar.com