PRESS RELEASE

IMAGIN Diagnostic Centres Buys Over 10% of the Non-Control Shares of Laser Rejuvenation
(LRC.a-TSX Venture Exchange)

IMAGIN Affiliate Buys Over 138,000 Shares and Plans Not to Tender Into Control Party Bid of $0.155

IMAGIN Affiliate to Buy Up to 19.9% of LRC.a Shares if Available at Prices Above $0.155 Per Share

TORONTO-August 8, 2003-IMAGIN Diagnostic Centres, Inc. (“IMAGIN”) is the general partner to a group which has acquired a strategic block position in excess of 10% of the non-control shareholdings of Laser Rejuvenation, (LRC.a-Toronto Venture Exchange) for the purpose of evaluating LRC.a as a potential reverse merger candidate.

LRC.a is subject to an outstanding tender offer at Cdn. $0.155 per LRC.a share to expire on August 20, 2003 made by control party, Dr. Tom Woo who owns 426,074 or 24%.

IMAGIN has requested and received a shareholders list and has called on the LRC.a independent committee of the Board to rescind the Pre-Acquisition agreement and to cause the lock-up agreement on 177,981 shares or 9.8% to become null and void.

IMAGIN does not believe that the offer which puts a valuation of $281,000 on the entire company is fair or that independent Board members are truly independent.

IMAGIN does not currently intend to tender into the Cdn. $0.155 bid therefore the statutory force out of minority shareholders will not be available to the current offeror.

IMAGIN will solicit shareholders not to tender. IMAGIN is exploring opportunities in order to offer shareholders an alternate opportunity to the tender offer including the possibility of an IMAGIN tender offer at a higher price. No competing offer however is currently pending.

IMAGIN’s affiliate intends to acquire 360,000 shares or 19.9% of LRC.a, in open market transactions at prices above $0.155.

IMAGIN contends that LRC.a with a tax loss carry forward of above $4 million and good standing as a fully-reporting listed company on the TSX Venture Exchange has a value in excess of the tendered-for price of Cdn. $0.155 per share which puts a value of only $281,000 on the entire company.

IMAGIN Diagnostic Centres, Inc. is a closely-held developmental stage company dedicated to being the leader in bringing PET (“Positron Emission Tomography”) and PET/CT (“Computed Tomography”) technology to Canadians. IMAGIN is negotiating joint ventures with private imaging centers and hospitals for the financing, installation and management of PET scan facilities across Canada. IMAGIN has a control position in Scans For Life, an early-stage marketing company focused on the patient acquisition function for CT and PET scans in the USA. IMAGIN is negotiating various transactions in order to establish a foothold in multiple Canadian markets. IMAGIN is located in Toronto, Ontario.

RETURN TO IMAGIN PRESS RELEASE ARCHIVES 2003