Hydromagnetic flow between two porous disks rotating with same angular velocity Omega about two non-coincident axes has been studied in the presence of a uniform transverse magnetic field. An exact solution of the governing equations has been obtained in a closed form. It is found that the primary velocity f/Omega l increases and the secondary velocity g/Omega l decreases with increase in either Reynolds number Re or the Hartman number M. It is also found that the torque at the disk eta = 0 increases with increase in either M-2 or K-2. On the other hand there is no torque at the disk eta = 1 for large M 2 and K-2. The heat transfer characteristic has also been studied on taking viscous and Joule dissipation into account. It is seen that the temperature increases with increase in either M-2 or K-2. It is found that the rate of heat transfer at the disk eta = 0 increases with increase in either M or K. On the other hand the rate of heat transfer at the disk eta = 1 increases with increase in K but decreases with increase in M.