TSX Venture Exchange symbol: FOX

TORONTO, Aug. 25 /CNW Telbec/ - Fiber Optic Systems Technology, Inc. ("FOX- TEK"), (TSX-V: FOX), a developer and manufacturer of patented non-intrusive sensing systems, today announced Q2 results from operations and the annual grant of options to its Board of Directors.

FOX-TEK reported year-to-date revenues of $395,000 compared to $240,000 in the same period of 2008. Operational costs were reduced by $620,000 from $1,431,000 in Q2 2008 to $811,000 in Q2 2009 and this expenditure level is reflective of management's ongoing expectation for the coming quarters. The net loss for Q2 2009 was $784,000 or $.02 per share, compared to a net loss of $1,320,000 or $.03 per share in the same quarter of 2008.

At our current level of sales, FOX-TEK has sufficient funds to operate for the next 7 months. The Company has begun to actively pursue various financing alternatives. In conjunction with this, management has engaged a consultant to help facilitate with strategic transactions including possible mergers and acquisitions and the raising of additional capital.

Effective August 20, 2009, FOX-TEK has granted a total of 390,000 options to the directors. The options have an exercise price of $0.10 in compliance with regulatory standards. The closing price of FOX-TEK's shares on August 19, 2009 was $0.08. Director's options vest in six equal quarterly installments. All the options will expire five years from the date of grant.