FOX-TEK Announces Grant of Options to New CFO



    TSX Venture Exchange symbol: FOX

    TORONTO, Oct. 2 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced the grant of 100,000 options to
Sean Carr, the companies' new Chief Financial Officer. The options vest in
three equal annual installments and have an exercise price of $0.55. The
options expire five years from the date of grant.

    About FOX-TEK:

    Fiber Optic Systems Technology, Inc. "FOX-TEK" develops non-intrusive
asset health monitoring sensor systems for the oil and gas market to help
operators track the thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling, and process pressure and
temperature. FOX-TEK's FT fiber optic sensor and Pinpoint systems allow
cost-effective, 24/7 remote monitoring capabilities to improve scheduled
maintenance operations, avoid unnecessary shutdowns, and prevent accidents and
leaks.
    FOX-TEK has offices in Toronto, ON; Calgary, AB; Montreal, Que; Houston,
TX; Mexico City, Mexico; 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.

    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: Dr. Essam Zaghloul,
president and CEO, Fiber Optic Systems Technology, Inc., (416) 665-2288,
ezaghloul@fox-tek.com; Investor Relations contact: Renmark Financial
Communications Inc., Barry Mire: bmire@renmarkfinancial.com; Christine
Stewart, cstewart@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

Organization Profile

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

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