Flexpoint Sensor Systems Enters Negotiations with Tier 1 Automotive Provider

DRAPER, Utah--May 2, 20046, 2004--Flexpoint Sensor Systems, Inc. (Pink Sheets: FLXT) today announced they have met and begun negotiating with a leading provider of components and integrated systems for the automotive industry.

At the customer's request, executives from Flexpoint, owners of numerous patented automotive applications, flew out recently to meet with a leading technology provider and discuss how the Bend Sensor(R) technology fits into current automotive applications. Flexpoint believes their technologies are a better solution to existing applications used by major automotive manufacturers today. This technology can be expanded past the current patent applications.

CEO John Sindt commented, "The initial meetings with this provider were very encouraging and demonstrated a high level of interest in the Bend Sensor technology. This is the second provider we have met with; the first supplier is currently evaluating several applications for our sensor in the automotive industry. While these negotiations are preliminary, we believe an agreement will result from these discussions."

Mr. Sindt continued, "Also, Flexpoint has begun preparing the necessary documentation to have our stock listed on an exchange that will provide greater visibility for our corporation and shareholders."

Flexpoint Sensor Systems, Inc. has developed and patented the Bend Sensor(R) technology. The Bend Sensor is a technological breakthrough that offers a superior solution for applications that require accurate measurement and sensing of deflection, acceleration and range of motion. Global market opportunities include automotive, medical, industrial controls, government, health and fitness, security, computer, aerospace, transportation and consumer products.