Fiber Optic Systems Technology, Inc.
TSX VENTURE : FOX

Fiber Optic Systems Technology, Inc.

June 01, 2011 09:00 ET

FOX-TEK Launches DMAT Platform

TORONTO, ONTARIO--(Marketwire - June 1, 2011) - Fiber Optic Systems Technology, Inc. ("FOX-TEK" or the "Corporation") (TSX VENTURE:FOX) a developer and manufacturer of patented non-intrusive sensing systems, is pleased to announce the 2011 release of FOX-TEK's DMAT data analysis platform ("DMAT Platform"). It is anticipated that the DMAT Platform will provide additional value to pipeline operators and other stakeholders by allowing such users to easily manage multiple PinPoint and FT systems. To date, 3 current customers with an aggregate of 13 points of interest, one of which is one of North America's largest liquid pipeline companies, have subscribed for the DMAT Platform to monitor corrosion on some of their North American pipeline system.

The Corporation has been able to enhance the DMAT Platform user interface to facilitate the consistent presentation of data across multiple sites and improve the tools for location comparison and data reporting. In addition, the DMAT Platform now contains an alarm-on-event capability which the customer can customize according to their specific needs and thresholds.

Mr. Allen Lone, the President of the Corporation, stated "We are excited at offering this new product to our customers. The DMAT Platform is the result of consultation between the company and its customers and we believe that the DMAT Platform address the needs of our customers. The company plans on aggressively rolling out the product to its other existing customers and to new prospective customers. The company intends to present the DMAT Platform to 11 existing clients with an aggregate of 21 sites with a view of signing them up."

About Marcon International Inc. and FOX-TEK:

Marcon International Inc. ("Marcon"), a wholly owned subsidiary of the Corporation, is an Ontario based, industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon's major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

FOX-TEK develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling, and process pressure and temperature. FOX-TEK's FT fiber optic sensor and PinPoint systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Marcon and FOX-TEK have offices in Oakville, ON; Toronto, ON and Alberta. The common shares of FOX-TEK are traded on the TSX Venture Exchange under the symbol "FOX". For more information, visit www.fox-tek.com.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". FOX-TEK is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. FOX-TEK cannot assure investors that actual results will be consistent with these forward looking statements and FOX-TEK assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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