Daxor Corporation Announces the Purchase of a BVA-100 by Gramercy Cardiac Diagnostic Services.

Business Editors/Health/Medical Writers

NEW YORK--(BUSINESS WIRE)--May 2, 2003

Daxor Corporation, (AMEX:DXR), a leading medical instrumentation and biotechnology company, today announced the receipt of the signed lease agreement from Gramercy Cardiac Diagnostic Services, PC.

The lease is a 51 month lease that was funded by Daxor Capital. Daxor Corporation will receive the full sale price from Daxor Capital thirty days post installation.

Gramercy Diagnostic was established in 1991 by K. Peter Rentrop, MD in New York City. Dr. Rentrop is an internationally recognized interventional cardiologist with a long-standing special interest in nuclear medicine and is a founding member of the American Society of Nuclear Cardiology. From 1978-1979, as an interventionist, Dr. Rentrop pioneered the use of both percutaneous coronary interventions and thrombolytic techniques in acute myocardial infarction, dramatically expanding the field of interventional cardiology which had been founded one year earlier by Andreas Gruentzig, M.D. He received worldwide recognition for his work. In addition to Dr. Rentrop, who is the President and Medical Director, there are thirteen additional cardiologists who are affiliated with the group. Gramercy currently has three offices located in Manhattan, Queens and the Bronx, and performs over four thousand nuclear medical diagnostic procedures annually.

Dr. Rentrop, Medical Director of Gramercy, said "We see the benefits of blood volume measurements in the treatment of various patients. Physicians treating conditions such as congestive heart failure, hypertension and syncope, often prescribe powerful medications which alter the blood volume of these patients. Gramercy's ability to provide blood volume measurement will enable physicians to treat their patients in a more precise manor."

Dr. Joseph Feldschuh, President and CEO of Daxor, said "We are very pleased that such a distinguished group of cardiologists has chosen to obtain the BVA-100 for the treatment of their complex cardiac patients. Recent medical reports in such journals as Circulation and the Journal of Clinical Anesthesia have provided evidence of the benefits of the BVA-100 in evaluating and treating various medical conditions."

Daxor Corporation manufactures and markets the BVA-100, a semi-automated Blood Volume Analyzer. The BVA-100 is used in conjunction with a single use diagnostic kit. It is the first instrument to provide rapid, direct measurement of a patient's blood volume with a high degree of precision. Among nationally renowned hospitals using the BVA-100 Blood Volume Analyzer are NYU Medical Center, The Mayo Clinic and The Cleveland Clinic, as well as other major medical institutions. More information about the BVA-100 and other Daxor products and services can be found at www.daxor.com.