Fiber Optic Systems Technology, Inc.
TSX VENTURE : FOX

Fiber Optic Systems Technology, Inc.

April 25, 2011 09:00 ET

FOX-TEK Ships First Two Pinpoint Systems to Zamil Group Holding

TORONTO, ONTARIO--(Marketwire - April 25, 2011) -Fiber Optic Systems Technology, Inc. (TSX VENTURE:FOX)("FOX-TEK" or the "Corporation"), a developer and manufacturer of patented non-intrusive sensing systems, is pleased to announce that further to its press releases dated January 25 and February 16, 2011, the Corporation has shipped the first two (2) Pinpoint Systems to Zamil Group Holding Company ("Zamil") pursuant to the purchase order of Zamil. The remaining 18 Pinpoint Systems will be shipped throughout the year with it being anticipated that all 20 systems would be shipped to Zamil by the 3rd quarter. The aggregate purchase price for the 20 Pinpoint systems is $1.5 million.

Zamil, with the assistance of the Corporation, has received the necessary EDC Financing in order to complete the purchase of the Pinpoint Systems.

Mr. Allen Lone, President of the Corporation, stated "We are excited about the first shipment of the two systems. This is a milestone for the Corporation in its efforts to expand its presence in the Middle East. This reinforces the Corporation's view of the Middle East market as essential to the continued success of the Corporation."

About Zamil Group Holding Company

Zamil is a global holding company with diverse interests and capabilities. It provides innovative, high quality and price competitive products and services as well as investment opportunities for investors, partners and stakeholders in the industrial, petrochemicals and services sectors.

Zamil's range of products and services is expansive and spans air-conditioning manufacturing to architectural glass processing, plastics to steel fabrication and paints and cranes to heavy process equipment. It is also engaged in shipbuilding and repair, port operations and maintenance, petrochemicals and chemicals, industrial investment and general construction.

About Marcon, FOX-TEK:

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

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in FOX-TEK's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. FOX-TEK has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.

Contact Information