ANAHEIM, CA, April 16, 2007 – Alliance Imaging, Inc. (NYSE:AIQ) (the “Company”), a leading health care services provider of diagnostic imaging services, announced today the closing of the purchase by funds managed by Oaktree Capital Management, LLC (“Oaktree”) and MTS Health Investors, LLC (“MTS”) of approximately 24,501,505 shares of the Company’s common stock from a fund managed by an affiliate of Kohlberg Kravis Roberts & Co., L.P. (“KKR”). Oaktree and MTS funds now own in the aggregate approximately 49.7% and the KKR fund now owns less than 3% of the outstanding shares of common stock of the Company. The Company did not sell any shares in the transaction. Other terms of the transaction are described in the Company’s March 19, 2007 news release.

About Alliance Imaging
Alliance Imaging is a leading national provider of shared-service and fixed-site diagnostic imaging services, based upon annual revenue and number of diagnostic imaging systems deployed. Alliance provides imaging and therapeutic services primarily to hospitals and other healthcare providers on a shared-service and full-time service basis, in addition to operating a growing number of fixed-site imaging centers. The Company had 489 diagnostic imaging systems, including 331 MRI systems, 73 PET or PET/CT systems, 40 CT systems and 45 other systems, and served over 1,000 clients in 43 states at December 31, 2006. Of these 489 diagnostic imaging systems, 68 were located in fixed-sites, which includes systems installed in hospitals or other buildings on or near hospital campuses, medical group offices, or medical buildings and retail sites.

About Oaktree Capital Management, LLC
Oaktree was founded in 1995 and is headquartered in Los Angeles, California. It is an independent investment management firm with over $37 billion of assets under management in niche investment strategies. These strategies include distressed debt, high yield bonds, private equity (including power infrastructure), convertible securities, real estate, emerging markets securities, mezzanine financing, and Japanese equity securities. Oaktree’s institutional clients include Fortune 100 companies, large public pension funds, university endowments, private foundations and high net worth individuals. In addition to Los Angeles, Oaktree has offices in New York, Stamford, Tokyo, Singapore, Hong Kong, Beijing, London, Frankfurt and, through fund affiliates, Luxembourg, and employs over 360 people.

About MTS Health Investors, LLC
MTS Health Investors, LLC, located in New York, New York, is a healthcare private equity firm that makes equity investments in the buyout, recapitalization or growth financing of healthcare operating companies. MTS focuses on businesses that operate in services sectors of the healthcare industry - managed care/health insurance, providers of healthcare services, distributors of medical products and pharmaceuticals, manufacturers of medical products and low-technology devices and providers of outsourced services to the healthcare industry.

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