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IsoRay Inc. Announces First Quarter Fiscal 2008 Earnings Release Date and Conference Call

October 29, 2007
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IsoRay Inc. (AMEX:ISR) a medical isotope company focused on the treatment of prostate cancer and other malignant disease through use of its proprietary radioisotope technology, has scheduled its first quarter fiscal 2008 earnings release for Thursday, November 8, 2007 before the American Stock Exchange opens.

A conference call is scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Thursday, November 8, 2007 to discuss the release.

To participate in the call, dial 1-800-944-8766 and provide conference ID # 39141. This call is also being webcast and can be accessed from the Company’s website. Simply log on to www.isoray.com and select Investor Information, then Webcasts, and First Quarter Fiscal 2008 Earnings. The webcast will be available for replay on www.isoray.com through November 23, 2007.

About IsoRay

IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of the Proxcelan Cesium-131 brachytherapy seeds, used to treat prostate and other cancers. Proxcelan seeds offer 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(a)(b). IsoRay is based in Richland, Washington. More information is available about IsoRay at www.isoray.com.

(a) Armpilia CI, Dale RG, Coles IP, et al. The Determination of Radiobiologically Optimized Half-lives for Radionuclides Used in Permanent Brachytherapy Implants. Int. J. Radiation Oncology Biol. Phys. 2003; 55 (2): 378-385.

(b) Prestidge B.R., Bice W.S., Jurkovic I., et al. Cesium-131 Permanent Prostate Brachytherapy: An Initial Report. Int. J. Radiation Oncology Biol. Phys. 2005; 63 (1): 5336-5337.

Safe Harbor Statement

Statements in this news release about IsoRay’s future expectations, including: the advantages of our Cesium-131 seed, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. 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 IsoRay’s products, changing levels of demand for IsoRay’s products; IsoRay’s ability to successfully manufacture, market and sell its products, IsoRay’s ability to manufacture its products in sufficient quantities to meet demand within required delivery time periods while meeting its quality control standards, IsoRay’s ability to enforce its intellectual property rights, and other risks detailed from time to time in IsoRay’s reports filed with the SEC.