Bioanalytical Systems, Inc. Revises Impairment Loss, Files Amended 10Q For Third Quarter Fiscal 2006, And Receives Notice Of Delisting From Nasdaq

WEST LAFAYETTE, IN -- (MARKET WIRE) -- August 29, 2006 -- Bioanalytical Systems, Inc. (NASDAQ: BASI) today reported that it had revised its estimate of the impairment loss on its clinical research unit and filed an amended quarterly report on Form 10-Q reflecting adjustments made in connection with completion of the review of the Company’s financial statements by the Company’s independent public accountant.