New York, NY—February 23, 2005—ComVest Investment Partners (“ComVest”), a private equity firm, today announced that is has entered into a $10 million financing agreement with Fischer Imaging Corp. (Pink Sheets:FIMG), a leader in medical imaging systems.
Under the agreement, Fischer received an initial advance of $5 million and used the proceeds to retire all of its outstanding senior indebtedness and for working capital to fund operations, research and development and marketing initiatives. The remaining $5 million available under the commitment may be borrowed by Fischer from time to time, subject to the satisfaction of certain conditions, through November 15, 2005.

Harris Ravine, Fischer President and CEO commented: “This financing provides the company with valuable capital and additional resources to support the current rollout of our second generation SenoScan® digital mammography system as well as development of future enhancements to SenoScan such as 3-D capability. It will also support other key development programs. We look forward to working with our supplier community and our direct and OEM customers as these programs accelerate in the future.”

The loan carries an interest rate of 8.5 percent per annum and matures in November, 2008. Fischer has the option to prepay the loan, in full or in part, at any time without any prepayment fee. Beginning with the first calendar quarter of 2006, the company is required to make certain minimum quarterly principal payments and to make mandatory principal prepayments based on Fischer’s future cash flows. In connection with the financing, the company issued ComVest warrants to acquire up to 2 million shares of Fischer common stock. The warrants have an exercise price of $4.25 per share and expire in February, 2010.

“Fischer Imaging has a long and storied past dating back to the very origins of medical imaging technology,” said Larry E. Lenig, Jr., ComVest Senior Partner. “We believe the company has an even brighter future and we are delighted to be working with the Fischer team to help strengthen their financial foundation and to maximize their potential.”

About Fischer Imaging
Fischer Imaging Corporation designs, manufactures and markets medical imaging systems for the screening and diagnosis of disease. One company focus is women’s health, particularly the diagnosis and screening of breast cancer through the application of innovative digital imaging technologies. The company also produces equipment designed for Emergency, Radiology, Surgical, and certain Cardiovascular needs. Fischer Imaging began producing general-purpose x-ray imaging systems in 1910 and is the oldest manufacturer of x-ray imaging devices in the United States. For more information, visit www.fischerimaging.com.

About ComVest Investment Partners
ComVest Investment Partners is a private equity firm focused on restructuring and investing in growth businesses. The firm has a diversified industry focus that includes Information Technology, Healthcare, Aerospace and Defense, Natural Resources, Consumer Packaged Goods, and Telecommunications. Since its founding in 1988, ComVest has raised and invested more than $1.4 billion of capital. ComVest currently manages three investment portfolios totaling over $850 million in assets and has offices in New York City and West Palm Beach, Florida.

For additional information, please visit www.comvest.com or contact:

Daniel K. Nenadovic
Vice President-Principal Investments
ComVest Investment Partners
Tel: (561) 868-6069
E-mail: danieln@comvest.com