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<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information
extracted from the Balance Sheet, Statements of Operations
and Statements of Cash Flows, and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000895464
<NAME> Magna-Lab Inc.
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> FEB-28-2001
<PERIOD-START> MAR-01-2000
<PERIOD-END> NOV-30-2000
<EXCHANGE-RATE> 1.000
<CASH> 3,776,000
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 3,883,000
<PP&E> 6,000
<DEPRECIATION> 403,000
<TOTAL-ASSETS> 3,889,000
<CURRENT-LIABILITIES> 644,000
<BONDS> 0
0
0
<COMMON> 59,000
<OTHER-SE> 3,186,000
<TOTAL-LIABILITY-AND-EQUITY> 3,889,000
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 1,350,000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (1,269,000)
<INCOME-TAX> 0
<INCOME-CONTINUING> (1,269,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,269,000)
<EPS-BASIC> (0.03)
<EPS-DILUTED> (0.03)
</TABLE>
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