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IsoRay Medical, Inc. Begins Production Testing of Its Proprietary Cesium-131 Isotope Through Agreement with Idaho National Laboratory.

RICHLAND, Wash. -- IsoRay Medical, Inc.'s collaboration with Idaho National Laboratory took a major step June 27 when testing began to demonstrate production of Cesium-131(TM), the company's proprietary isotope currently used to treat prostate cancer.

IsoRay Chairman and CEO Roger Girard said the test is designed to demonstrate whether the facility's Advanced Test Reactor can efficiently produce the powerful "seeds" for cancer treatment and thereby continue expansion of IsoRay's production capabilities.

"The initiation of testing is a milestone for all the parties involved, following months of collaboration between our staff and the team at Idaho National Laboratory," said Girard. "Added production of the Cesium-131 isotope will support our expansion program in treating prostate cancer patients and its future application to other forms of cancer."

IsoRay Medical, Inc. is a wholly owned subsidiary of a public company, IsoRay, Inc. ("IsoRay") (OTCBB: ISRY). It is the sole manufacturer and distributor of Cesium-131, a medical isotope currently used in brachytherapy for the treatment of prostate cancer.

The reactor irradiation is a key step in the isotope production process that was launched in December 2005, when a collaboration and partnership agreement involving Idaho National Laboratory, IsoRay Medical, Inc. and Bannock Development Corporation was announced.

On June 27 Idaho National Laboratory researchers inserted five capsules of barium carbonate into the reactor. After the two weeks of irradiation the stainless steel capsules containing barium carbonate -- encased in an outer stainless steel container -- will be removed and transported to IsoRay's processing facility in Richland, WA, where the isotope will be recovered and analyzed.

Idaho National Laboratory is a nuclear energy and multidisciplinary national laboratory dedicated to supporting the U.S. Department of Energy's mission in energy, national security, environment and science. Idaho National Laboratory is operated for the DOE by Battelle Energy Alliance.

The Cesium-131 isotope is currently being used in brachytherapy treatment for prostate cancer, which is the second leading cause of cancer deaths among men in the U.S.

IsoRay Medical, Inc. was founded in 1998 and received Food & Drug Administration 510(k) clearance in March 2003 for treatment of any malignant disease including cancers of the head and neck, brain, breast, prostate and other organs.

Over 50 clinics across the United States offer Cesium-131 as a fast and aggressive option for fighting prostate cancer. They include recently added sites, including Mt. Sinai Medical Center, Miami Beach; Seattle Prostate Institute at Swedish Medical Center, Seattle; Mills Peninsula Health Center, San Mateo, CA and the University of Maryland, Baltimore. They join a list of notable medical centers that includes the Arnold Palmer Prostate Center at Eisenhower Lucy Curci Cancer Center in Palm Springs, the Duke University Health System and New York Presbyterian/Weill Cornell Medical Center.

For more information on IsoRay Medical or Cesium-131, visit www.isoray.com or www.cesium131.com.

About IsoRay

IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of the Cesium-131 brachytherapy seed, used to treat prostate and other cancers. The Cesium-131 seed offers a significantly shorter half-life than the two other isotopes commonly used for brachytherapy, which results in a substantially faster delivery of therapeutic radiation, lower probability of cancer cell survival and reduction of the longevity of common brachytherapy side effects. IsoRay is based in Richland, Washington. More information is available about IsoRay at www.isoray.com.

Safe Harbor Statement

Statements in this news release about IsoRay's future expectations, including: the advantages of our Cesium-131 seed, possible outcomes of the testing at Idaho National Laboratory, increases in production capability, 6the level of market share our seed may attain, and all other statements in this release, other than historical facts, are forward-looking statements. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of our products, our ability to successfully manufacture, market and sell our products, our ability to manufacture our products in sufficient quantities to meet demand within required delivery time periods while meeting our quality control standards, and our ability to enforce our intellectual property rights, and other risks detailed from time to time in IsoRay's reports filed with the SEC.
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Date:Jul 6, 2006
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