An unsteady MHD flow of homogeneous fluid due to an exponentially decay line source placed between two axially symmetric infinite parallel disks is considered under the action of a transverse magnetic field. Considering axial symmetry within the system the expression for radial velocity, pressure and skin friction at the disks are obtained for small values for Reynolds number and at a large distance from the source. The influence of decay parameter, applied field and Reduced Reynolds number over the physical parameter of the problem are analyzed graphically followed by conclusions.