Imagenetix Reports Third Quarter Results

February 22, 2005

SAN DIEGO--(BUSINESS WIRE)--Feb. 22, 2005-- Imagenetix, Inc. (OTCBB:IAGX - News), www.imagenetix.net, an innovator of scientifically tested, natural-based, proprietary bioceutical products, today announced results for the third fiscal quarter and nine-month fiscal period ending December 31, 2004.

For the third fiscal quarter ended December 31, 2004, the Company reported revenue of $2,739,743, a 157% increase compared to $1,066,399 reported for the same quarter for the prior fiscal year. For the third quarter, the Company reported before-tax income of $591,433, a 306% increase compared to $145,580 reported for the same quarter for the prior fiscal year. The Company reported net income of $346,850 or $.04 per diluted share, a 156% increase compared to $135,049 or $.01 per diluted share reported for the same quarter for the prior fiscal year. For the quarter ending 12/31/04, the Company incurred a tax rate of 41% compared to a 9% tax rate for the same quarter last year.

For the fiscal nine months ended December 31, 2004, the Company reported revenue of $4,960,052, a 70% increase compared to $2,923,065 reported for the same nine month period for the prior fiscal year. For the nine months, the Company reported before-tax income of $909,851, a 264% increase compared to $249,977 reported for the same nine months for the prior fiscal year. The Company reported net income of $697,723 or $.07 per diluted share, a 210% increase compared to $225,202, or $.02 per diluted share reported for the same nine months for the prior fiscal year. For the nine months ending 12/31/04, the Company incurred a tax rate of 23% compared to a 10% tax rate for the same nine months last year.

Bill Spencer, President of Imagenetix, said, "Revenue increased significantly as a result of the placement of Celadrin based products on the shelves in approximately 9,000 stores under Naturade's, ReVivex label. Stores carrying Celadrin products under the ReVivex brand include Walmart, GNC, Albertson's, Sav-On Drug, and other drug, mass market, and health food stores."

In addition, the Company extended the warrant expiration date to October 23, 2007 on all warrants that were scheduled to terminate before that date. No other terms or conditions were changed on any of the warrants.