News

10/30/2002
Press Release

Wednesday October 30, 7:03 am ET Isonics Enters Homeland Security Field Forms Dedicated Subsidiary
GOLDEN, Colo.--(BUSINESS WIRE)--Oct. 30, 2002--Isonics Corporation (NASDAQ:ISON - News), a leader in the development of isotopically engineered semiconductor materials, a supplier of silicon-on-insulator wafers, and isotopes for life sciences and health care applications, has announced plans to form a new subsidiary to commercialize identified trace detection technologies for the important field of homeland security. According to James Alexander, Chairman and CEO of Isonics Corporation, "Because of our established reputation and demonstrated capabilities in the technology sector, Isonics has been presented with several innovative technological opportunities which are, as are most of our products today, isotope-based. These new devices will help address security threats facing the United States and many other countries. Our new subsidiary will expand our technology product portfolio and position us for substantial future growth." Mr. Alexander further noted that the Bush administration has proposed a fiscal 2003 federal budget that includes a request for $37.7 billion for homeland security, a substantial increase from the $10.6 billion appropriated in 2002. The Company believes that some of these funds will be allocated to develop and acquire trace detection instruments. Isonics plans to announce details of the newly formed subsidiary and selected technologies in the near future. About Isonics Corporation Isonics is a world leader in isotopically engineered materials and produces isotopically pure silicon-28 chemicals and wafers and silicon-on-insulator wafers (SOI) for the semiconductor industry. Isonics also markets and sells stable isotopes for the health care industry such as Oxygen-18 for positron emission tomography (PET) imaging. The company is also a leading supplier of several radioactive isotopes used in medical imaging and therapy. Isotopes can be thought of as ultra pure materials. For additional information visit www.isonics.com. Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein, and which may result in the parties being unable or unwilling to complete the transaction described herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB for the year ended April 30, 2002 as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission. Contact: Isonics Corporation James E. Alexander, 303/279-7900 www.isonics.com or Investor Awareness, Inc. Tony Schor or Paul Arndt, 847/945-2222 www.investorawareness.com