Frost & Sullivan's Pedestrian Safety Analysis Identifies Potential for Bend Sensors(R)

DRAPER, Utah--Feb. 2, 20068, 2006--Flexpoint Sensor Systems, Inc. (OTCBB:FLXT) today announced that the company's Bend Sensor(R) technology was mentioned as a key technology in Frost & Sullivan's recent analysis of the European Market for Pedestrian Safety Systems. Flexpoint Sensor Systems, Inc. has patented the Bend Sensor technology, which on contact with an object can differentiate a human leg from an inanimate object, thus finding application in passive pedestrian protection solutions.

Frost & Sullivan's research report sites the tragic statistics of 4,458 pedestrian deaths in 2002 representing 15% of the total road fatalities in Europe. It also describes the steps the European Union is taking to mandate safer vehicles. The rising pedestrian fatalities have prompted pedestrian protection tests for all new vehicles sold in Europe beginning in 2005 and becoming more stringent in 2010. As a result, vehicle manufacturers are working on improved solutions to meet the necessary criteria.

"The market potential for vehicle manufacturers and suppliers is immense in the pedestrian safety systems market as almost all safety systems, whether active or passive, are still in their respective development phases," notes Frost & Sullivan (http://transportation.frost.com) Transportation Analyst Vinay Joshi.

The report goes on to note that initially passive pedestrian safety systems are expected to experience significant growth after overcoming high development costs. "To overcome high development costs, vehicle manufacturers can outsource the research, development and testing of these systems to Tier 1 suppliers whose expertise in this field is growing, who can then be offered suitable supplier contracts," advises Mr. Joshi.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants an overview of the latest analysis of the European Market for Pedestrian Safety Systems, then send an e-mail to Magdalena Oberland, Corporate Communications, at magdalena.oberland@frost.com with the following information: your full name, company name, title, telephone number, fax number, e-mail address and source of information. Upon receipt of the above information, an overview will be sent to you through e-mail.

Background

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

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.

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.