Flexpoint Sensor Systems, Inc. Changes Symbol To FLXP

25 June 1999

Flexpoint Sensor Systems, Inc. Changes Symbol To FLXP

    SALT LAKE CITY--June 24, 1999--Flexpoint Sensor Systems, Inc. (OTC BB:MICP), announced today that effective June 25, 1999, at the market open, the Company's stock will begin trading under the new symbol FLXP (previously MICP).
    On June 16, 1999, the Company's shareholders approved the name change to Flexpoint Sensor Systems, Inc. at the Company's Annual Meeting.
    Doug Odom, president and chief executive officer of Flexpoint Sensor Systems, commented, "Our goal is to build name recognition for Flexpoint, especially for our Flexpoint Occupant Detection System, which is currently being production qualified for an order we received from Delphi Automotive Systems for General Motors. Under the modified agreement, it is estimated that upwards of $300 million in revenues could be generated over the life of the contract. We are seeing progress with our new manufacturing facilities. With our first automotive production line in place we are very excited about beginning full-scale production of the Flexpoint Occupant Detection System."
    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.

    About Flexpoint Sensor Systems

    Flexpoint Sensor Systems designs, manufactures, and markets flexible Bend Sensor(R) technology for various industries, including the automotive and toy industries. Flexpoint Sensor Systems has also begun marketing to various other industries, which include industrial and medical applications.
    Flexpoint's unique Bend Sensor 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 technology can provide an ideal solution to problems associated with numerous applications requiring accurate sensing devices in many industries. The Bend Sensor is thinner, lighter, longer-lived, more reliable and more cost-effective than many previous devices in the sensor industry.