CTI Announces Expansion of Board of Directors.

Business Editors/Health/Medical Writers

KNOXVILLE, Tenn.--(BUSINESS WIRE)--May 13, 2003

CTI Molecular Imaging, Inc. (Nasdaq:CTMI) announced today that Hamilton Jordan, James R. Heath and Roy Doumani have been elected to its Board as independent directors and Frederick W. Eubank, II has resigned as a director.

Mr. Jordan is the former White House Chief of Staff during the Carter Administration. Presently, he devotes his time to the healthcare sector, where he is a board member, investor and advisor to a number of medical technology companies. Previously, Mr. Jordan founded the men's global professional tennis tour (ATP Tour) and was a co-founder of the Jacksonville Jaguars, an NFL franchise. Mr. Jordan is a three-time cancer survivor and active in cancer research and patient advocacy. He serves on the Board of Trustees of the American Association of Cancer Researchers and is also on the Boards of Directors of the Lance Armstrong Foundation, the Brady Clinic of Johns Hopkins University and First Funding, a national initiative to increase federal funding of basic medical research. Mr. Jordan is a graduate of the University of Georgia.

"Hamilton Jordan has done a great public service by increasing awareness of cancer and has been an inspiration to many cancer victims," said Terry Douglass, Ph.D., Chairman and Chief Executive Officer of CTI Molecular Imaging, Inc. "We share his passion for the early diagnosis and treatment of cancer. Additionally, he has a wealth of experience in founding and growing successful enterprises. We welcome Hamilton's enthusiasm and entrepreneurial spirit."

Dr. Heath is the Elizabeth W. Gilloon Professor of Chemistry at the California Institute of Technology and Professor of Molecular & Medical Pharmacology at the University of California at Los Angeles. Dr. Heath is a leading authority in the area of nanotechnology. Among his many areas of research, his work on molecular electronics circuitry was cited by the journal Science as the "Breakthrough of the Year 2001." Most recently, Dr. Heath has been applying nanotechnology toward building a NanoSystems biology lab on a chip to provide real-time analysis of DNA and proteins that establish the genetically programmed functions of cells, both normal and those of disease. He has received numerous scientific awards, including the 2000 Julius Springer Award for Applied Physics, the 2000 Feynman Prize in Nanotechnology, and the 2001 Raymond and Beverly Sackler Prize in the Physical Sciences. In 2002, Scientific American named Dr. Heath as one of the top 50 technologists in the U.S. Dr. Heath received a Bachelor of Sciences degree in Chemistry from Baylor University and a Ph.D. in Chemistry from Rice University.

"Jim's expertise in nanotechnology brings an entirely new dimension to our Board," continued Douglass. "The appointment of Jim Heath, together with our existing board member Lee Hood, who invented the DNA and protein sequencing and synthesizing technologies that produced the genomics and proteomics eras in biology, gives us the resources of two of the world's leading scientists in nanotechnology and systems biology, respectively. Together, they will bring a focus on molecular diagnostics and therapeutics to CTI that will be invaluable in the development of the next generation of molecular probes and scanner systems for molecular imaging."

Roy Doumani is presently the Chief Operating Officer and board member of the California NanoSystems Institute, a $350 million technology development partnership partially funded by the State of California. For the past two decades, he has held positions both as a principal and board member with banking and real estate institutions. Mr. Doumani maintains strong associations with Pacific Rim business and financial communities, and presently serves as Vice Chairman of Xiamen International Bank in the Peoples Republic of China. He has been involved in the start-up of a number of companies located in Asia and the U.S. in the biotech and high tech industries, where he has served as both an advisor and board member. Mr. Doumani has a Bachelor of Sciences degree in Business and Finance from the University of California at Los Angeles and a J.D. from the University of Southern California.

"Roy has been a very successful businessperson on a global basis. He will bring an international perspective, particularly with regard to Asia, which we have lacked in the past," said Douglass. "He has excellent experience as a board member of many technology companies and I expect his involvement to be invaluable. Additionally, as a cancer survivor, he understands the importance of early diagnosis and the capabilities than PET can provide toward this goal."

Mr. Eubank has resigned after serving three years on the Board of CTI. He has represented Wachovia Capital Partners, which is CTI's sole private equity investor and which owns approximately 6% of the outstanding shares. Dr. Douglass commented, "We want to thank Eric for his contribution to CTI. He was an important resource in the process of going public and brought a strong financial perspective to the Board. We wish him the best in his future investments."

About CTI:

CTI Molecular Imaging, Inc. is a leading supplier of products and services for positron emission tomography (PET), a diagnostic imaging technology used in the detection and treatment of cancer, neurological disorders and cardiac disease. Additional information is available at: www.ctimi.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding CTI Molecular Imaging, Inc.'s business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Further information regarding such risks and uncertainties and other factors that could adversely affect CTI or cause actual results to differ materially from those anticipated in forward-looking statements are included in CTI's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2002 and in other reports CTI files with the SEC. CTI undertakes no obligation to update or revise any forward-looking statements.