FOX-TEK announces correction to the price of options granted to management



    TSX Venture Exchange symbol: FOX

    TORONTO, Jan. 8 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK" ) (TSX-V: FOX), a supplier of integrity monitoring solutions today
announced that the options granted to management, and referred to in the
December 11, 2008 press release, now have an exercise price of $.10 rather
than $.04 in compliance with regulatory standards.

    About FOX-TEK:

    FOX-TEK sells non-intrusive asset health monitoring sensor systems for
the oil and gas and other industries. These systems allow operators to monitor
asset integrity, thereby improving safety, environmental performance,
reliability, and efficiency.
    FOX-TEK has offices in Toronto, ON, Calgary, AB, and Al-Khobar, Saudi
Arabia. FOX-TEK is traded on the TSX Venture Exchange under the symbol "FOX".
For more information, visit www.fox-tek.com.

    This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in FOX-TEK's periodic reports filed with the
Ontario Securities Commission and other regulatory authorities. FOX-TEK has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.




For further information:

For further information: FOX-TEK Company contact: Sean Carr, Interim
President & CFO, Fiber Optic Systems Technology, Inc., (416) 665-2288,
scarr@fox-tek.com; Investor Relations contact: Renmark Financial
Communications Inc.: Barry Mire, bmire@renmarkfinancial.com; Christine
Stewart, cstewart@renmarkfinancial.com; Montreal: (514) 939-3989, Fax: (514)
939-3717; Toronto: (416) 644-2020, Fax: (416) 644-2021;
www.renmarkfinancial.com

Organization Profile

FIBER OPTIC SYSTEMS TECHNOLOGY, INC. (FOX-TEK)

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