Flexpoint Sensor Systems Updates Progress

DRAPER, Utah--Aug. 1, 20049, 2004--Flexpoint Sensor Systems, Inc. (Pink Sheets:FLXT) today announced the progress the company accomplished during the second quarter.

Currently the company is working on six major projects including a medical bed to alleviate bedsores, a Passenger Presence Detection System for automobiles, a security device, and the development of second generations of previously announced automotive patents. Flexpoint is focusing the majority of its time and resources on the automotive industry in response to the high level of interest from manufactures and suppliers, including a European manufacturer.

CEO John Sindt stated, "While several of these new development projects are related to industrial controls and medical applications, the majority of our efforts have been in the automotive industry. We are in negotiations with several providers and feel we are close to announcing a significant contract. No longer is the question will we get a contract, but when and how many".

Flexpoint Sensor Systems, Inc. has developed and patented the Bend Sensor(R) technology. The Bend Sensor(R) 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.

Forward-Looking Statements

This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.