Implant Sciences to Sell Semiconductor Business Unit

Implant Sciences Corporation (AMEX: IMX), a leading manufacturer of advanced security products, today further discussed its plans to sell Core Systems, Inc. ("Core”), the Company’s wholly-owned semiconductor subsidiary. With the approval of the Board of Directors, the Company recently made the formal decision to harvest the value it believes has been created in Core since its acquisition in October 2004. To assist the Company in the sales process, Noblemen Holdings, LLC ("Noblemen”) has been hired to be the investment banking advisor. Noblemen is a boutique investment banking firm with specialized expertise in the semiconductor space. Phillip C. Thomas, CEO and President commented, "In our continuing efforts to focus the Company on our Safety, Security and Defense (SS&D) business, the planned sale of Core meets several of our strategic objectives. Since the acquisition of Core, we have taken steps to grow this semiconductor business unit and consolidate operations in Sunnyvale, California to realize efficiencies and bring a consolidated business unit to the marketplace. Core now presents an attractive acquisition opportunity as a stand-alone business or as an integral component of a strategic buyer. Given our assessment of Core, we believe the time is right to execute on our planned strategy which should maximize our return on this investment and provide us the opportunity to redeploy the cash received to strengthen our balance sheet and provide working capital to move forward with our SS&D initiatives. These initiatives include continued support of our development efforts to introduce new SS&D products and increased investment in our sales efforts to improve sales. Our balance sheet could be improved not only by the additional working capital provided, but also by the elimination of our convertible preferred stock obligation through cash repayments. The successful sale of Core should move Implant Sciences one step closer to fulfilling its mission of being a focused leader and innovator in the SS&D market.” Company Conference Call Management will host a conference call on Monday, February 25, 2008 at 2:30 PM Eastern Time to review the Company’s fiscal 2008 second quarter financial results and operations, our proposed acquisition of Ion Metrics, Inc., and our planned sale of Core. Following the Company’s prepared remarks there will be a Q&A session. The call can be accessed by dialing: 866-578-5784 within the U.S. or 617-213-8056 outside the U.S. and entering the passcode: 21280123. Participants are asked to call the assigned number approximately 5 minutes before the conference call begins. A replay of the conference call will be available two hours after the call for the following two business days by dialing: 888-286-8010 within the U.S. or 617-801-6888 outside the U.S. and entering passcode: 14487631. About Implant Sciences Implant Sciences develops, manufactures and sells products through its primary business units: (i) explosives trace detection (ETD) systems for homeland security, defense, and other security related applications and (ii) state of the art services for the medical and semiconductor industries. The Company has developed proprietary technology used in its commercial portable and bench-top ETD systems, which ship to a growing number of locations domestically and around the world. The Company’s ETD products are intended to address a growing range of threats in the Safety, Security, and Defense (SS&D) marketplace which include various segments such as aviation, cargo, transportation, and related elements of the government and commercial infrastructure. In addition to its SS&D market focus, the Company provides high technology coatings for a variety of medical products at its main facility in Wakefield, Massachusetts and provides ion implantation services to the semiconductor industry from its location in Sunnyvale, California. For further details on the Company and its products, please visit the Company’s website at www.implantsciences.com. Implant Sciences believes this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information, you are encouraged to review Implant Sciences’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10K for the period ended June 30, 2007 and Quarterly Reports for the periods ended September 30, 2007 and December 31, 2007. The Company assumes no obligation to update the information contained in this press release.