Theragenics Named in DOE Contract to Convert Defense Legacy Material into Weapon Against Cancer; Initiative Represents Another Step Toward Company's Diversification.

Business Editors

BUFORD, Ga.--(BUSINESS WIRE)--Oct. 16, 2003

Theragenics Corporation(R) (NYSE: TGX) has been named by the U.S. Department of Energy (DOE) as a participant in a contract awarded October 9 to Isotek Systems LLC for the clean up of Cold War nuclear legacy material. Theragenics'(TM) participation supplements Isotek's clean up responsibilities and is directed toward the production and delivery of medical isotopes refined from this material. Isotek will down blend enriched uranium-233 and provide Theragenics(TM) with extracted material for the production of isotopes that show great promise for the treatment of deadly cancers.

"DOE has an important responsibility to clean up the legacies from the Cold War," Secretary of Energy Spencer Abraham said. "That we can fulfill this mission while producing valuable new tools in the fight against cancer is an exciting and unique opportunity."

Christine Jacobs, Chairman, CEO and President of Theragenics(TM) stated, "We welcome this opportunity to participate in a program designed to figuratively bend swords into plowshares. Although the value of our participation in this program cannot be quantified, this initiative leverages our core competency in medical isotope production and represents one of many steps Theragenics(TM) is taking to diversify the company's products and services."

The DOE contract calls for Isotek to extract thorium-229 from defense legacy material during the down blending process. Theragenics'(TM) role will be to extract from the thorium the isotope actinium-225 and actinium-225's daughter product, bismuth-213. This isotope can, in turn, be used in potential medical applications and cancer research, such as the treatment of acute myologenous leukemia. DOE's Pacific Northwest National Laboratory will work with Theragenics(TM), Isotek, and its partners on research and development to optimize the actinium extraction process.

Production of actinium and any financial return to Theragenics(TM) is not anticipated to begin before 2007. Production of actinium, including research and development, is a private venture at no cost to the government. Theragenics(TM) will not participate in the actual clean up and down blending of the uranium-233 and will not receive any of the estimated $128 million to be paid by the DOE under the Isotek contract.

Actinium-225 and bismuth-213 are being explored for treatment of serious diseases including acute myologenous leukemia and cancers of the lungs, pancreas, and kidneys. During such treatment, the isotopes would be bound to monoclonal antibodies that attach to the cancer, allowing radiation to attack the cancer while minimizing the potentially negative impact to surrounding tissue. Over the past five years, the DOE has provided modest quantities of actinium-225 for cancer research. This endeavor aims to significantly increase this supply.

Theragenics Corporation(R) is committed to being a leading provider of brachytherapy treatment devices for prostate cancer and other degenerative disease states. The Company is the manufacturer and marketer of the palladium-103, rice-sized device, TheraSeed(R), and also markets I-Seed, an iodine-125 based device. Both devices are used in the treatment of localized prostate cancer in one-time, minimally invasive procedures. Theragenics(TM) is the world's largest producer of palladium-103 and is involved in related research and development, utilizing the substance for the treatment of vascular disease, macular degeneration and other diseases, as well as research and development centered around other isotopes and their commercial usage. For additional information on the Company, call Theragenics'(TM) Investor Relations Department at [phone]. The Company's common stock is traded on the New York Stock Exchange under the symbol TGX. Additional information can be found on the Company website: www.theragenics.com.

Except for historical information contained herein, the matters discussed in this press release, including the successful set up of actinium/bismuth production capabilities, the production of actinium/bismuth, the continuation of research and development of medical applications for actinium/bismuth, the development of commercial medical applications for actinium/bismuth, potential financial returns from the production and sale of actinium/bismuth, ability of others to successfully down blend uranium-233 and extract thorium-229, and benefit to Theragenics'(TM) diversification efforts are forward looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Actual results may be affected by among other things, risks and uncertainties related to new product and process development cycles, potential costs and delays associated with preclinical and clinical studies, potential costs and delays in production setup and optimization, the commencement of commercial operations, changes in government priorities relating to isotope production, research and development activities both internally and externally, effectiveness and execution of marketing, sales and distribution programs by Theragenics(TM), product pricing, costs of materials used in production processes, introduction and/or availability of competitive products by others, third-party reimbursement, physician training, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings.

All forward looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement.