An unsteady flow of a viscous incompressible electrically conducting fluid between two infinite parallel stationary disks composed of non-conducting material in presence of a uniform magnetic field applied transversely to the direction of flow is considered. The flow is due to the source whose strength decays exponentially. The aim of this study is to investigate the effect of magnetic Hartmann number and the decay factor on the laminar radial flow due to the source for different values of reduced Reynolds number. Solutions are obtained for the radial velocity and pressure distribution. The skin frictional different layers of the flow are calculated and their variations with magnetic Hartmann number and decay factor are shown graphically.