First Technology Announces Exclusive License Agreement with Flexpoint Sensor Systems

    SOUTHFIELD, Mich.--Aug. 19, 2002--First Technology has acquired a worldwide exclusive license to use, manufacture and sell certain products based on Flexpoint Sensor Systems Inc. (OTCBB:FLXP) bend sensing technology.
    The technology has been undergoing intensive testing at First Technology's Grand Blanc, US and Farnborough, UK locations during the last 6 months validating recent improvements that assure the patented bend sensing technology will withstand automotive requirements.
    "Based on positive results, First Technology will begin marketing a number of applications for automotive use featuring the Flexpoint bend sensor technology," said Scott Sheidy, director of Sales and Marketing for First Technology. "Particularly well suited to this technology are position sensing and switching functions. Seat position sensing and advanced horn switches will be the two of the first products marketed."

    First Technology, located in Southfield, Michigan, and Flexpoint, located in Midvale, Utah, believes the bend sensor technology has the ability to be a low cost solution for a number of additional automotive uses. The two companies have been working closely on validating the technology and may work together on future more advanced applications of the patented bend sensing technology.

    For more information contact Scott Sheidy at First Technology, Southfield, Michigan 248-353-6200 (ssheidy@1firsttech.com).
    Flexpoint Sensor Systems, Inc. John Sindt, 801-568-5111, jsindt@flexpoint.com