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Micropoint Announces Fourth Quarter and Year-End Results

30 March 1999

Micropoint Announces Fourth Quarter and Year-End Results; The Company's Revenue Grew Substantially in 1998

    SALT LAKE CITY--March 29, 1999--Micropoint Inc. (MICP - news) announced today that its revenues increased to $601,119 for the three month period ending December 31, 1998, compared to $1,663 for the same period last year.
    Net operating loss for the fourth quarter 1998 was $(1,049,781), or $(.07) per common share, compared to a net loss of $(558,416), or $(.04) per common share for the same period in 1997. For the year ended December 31, 1998, the Company's revenues grew to $1,915,628, compared to $261,936 for 1997. Net loss for 1998 was $(2,222,323), or $(.16) per common share, compared to a net loss of $(1,541,058), or $(.13) per common share for the same period last year.
    "We are pleased with the company's results for 1998," said Doug Odom, President and CEO. "Our 1998 revenue growth has been substantial at over 600%, and the company's cash position has increased over 500%," said Odom. "We continue to expand from an engineering and development company to a manufacturing concern, with a marketing focus. Micropoint, through its operating subsidiary Flexpoint, is pursuing diverse product opportunities both domestically and abroad. Over the next several quarters, we will continue to build on infrastructure as we prepare to accommodate production demands for our automotive contracts."
    Micropoint's unique Bend Sensor(R) device measures a predictable change in electrical resistance as it is deflected. It is capable of precisely measuring minute to very large changes in position. Flexible and self-contained Bend Sensor(R) technology can provide an ideal solution to problems associated with numerous applications requiring accurate sensing devices in many industries. The Bend Sensor(R) is thinner, lighter, longer-lived, more reliable and more cost-effective than many previous devices in the sensor industry.
    Through its operating subsidiary Flexpoint, Inc., Micropoint designs, manufactures, and markets flexible Bend Sensor(R) technology for various industries, including the automotive and toy industries. Micropoint has also begun marketing to various other industries, which include industrial and medical applications. Micropoint's stock is traded under the symbol MICP.
    Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, completion of manufacturing facilities, market acceptance, government regulation, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies, competitive conditions and other risk factors detailed in the Company's filings with the Securities and Exchange Commission.

                            Micropoint Inc.
  Financial Highlights for the years ended December 31, 1998 and 1997


                                           Years Ended
                                12/31/98                    12/31/97

Sales                       $  1,915,628                 $  261,936
Gross profit                   1,095,697                    168,242
General & Admin.               1,953,432                  1,061,279
Research and
development                    1,382,101                    593,540
Net loss                      (2,222,323)                (1,541,058)
Net loss per share          $      (0.16)                $    (0.13)

Weighted average
shares used in
calculation                   14,259,935                 11,721,842

                          December 31, 1998         December 31, 1997
Current Assets              $  2,776,287                $   593,540
Total Assets                $  4,051,458                $ 1,470,018
Current Liabilities              458,311                  1,680,176
Stockholders' Equity           3,593,147                   (210,158)
Total Liabilities and
Stockholders' Equity        $  4,051,458                $ 1,470,018