Primedex Health Systems Reports First Six Months Profit.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--June 14, 2001

Primedex Health Systems Inc., Los Angeles, (OTCBB:PMDX), owner and operator of 40 California medical diagnostic imaging facilities, reported income of $6,137,504, or 15 cents per share, for the six-month period ended

This compared favorably with the same six-month period in 2000 when Primedex reported income of $506,407, or 1 cent per share. For the three-month period ended April 30, 2001, income increased to $5,214,922, or 12 cents per share, as compared with $704,032, or 2 cents per share, for the same three-month period in 2000 ($1,912,615, or 4 cents per share, before the net income from a one-time gain).

Net revenue increased by approximately 20 percent for the six-month period to $50,214,033 from $41,884,869 and by approximately 19 percent for the three-month period to $26,104,023 from $21,901,127.

Howard G. Berger, M.D., president of Primedex, stated he was pleased with the progress the company is making. He noted that earnings before interest, depreciation, taxes and amortization (the so-called "EDITDA") for the six months ended April 30, 2001, increased by approximately 34 percent (not including any income associated with the one-time event) to $14,057,181 from $10,507,565 for the same period in 2000 and for the three-month period ending April 30, 2001, by approximately 28 percent (not including any revenues associated with the one-time event) to $7,444,284 from $5,804,607 for the same three-month period in 2000.

Dr. Berger also noted that even though Primedex (through its Radnet Management Inc. subsidiary) had recently acquired several additional locations, its net revenue from locations that were operating for the entire six months of both fiscal 2001 and 2000 increased by approximately 12.5 percent from $38,589,450 to $43,357,655.

Additionally, Primedex is currently constructing two new locations in Burbank and Tarzana, Calif. Dr. Berger anticipates, based upon information currently available, that the new Burbank and Tarzana locations, together with the recently acquired Modesto and Palm Springs/Palm Desert locations, all of which should be fully operational for all of fiscal 2002, should increase net revenues in fiscal 2002 by between $25 million and $30 million.

                       3 Months Ended              6 Months Ended
                    April 30,   April 30,      April 30,    April 30,
                      2001        2000           2001         2000

Net Revenue       $26,104,023  $21,901,127   $50,214,033  $41,884,869

Operating
 Expenses         $21,121,943  $18,323,155   $41,019,398  $35,687,664

Income from
 Operations
 (before extra-
  ordinary item)  $ 5,107,151  $   700,695   $ 6,024,401  $   451,300

Extraordinary
 Item-Gain        $   107,771  $     3,337   $   113,103  $    55,107

Net Income        $ 5,214,922  $   704,032   $ 6,137,504  $   506,407

Basic Earnings
 Per Share            $0.12(a)      $0.02       $0.15(a)      $0.01

(a) Includes 8 cents per share attributed to the net income from a
one-time gain.

The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumer preferences and trends and other risks detailed in the company's Securities and Exchange Commission filings.