FLUID IMAGING TECHNOLOGIES, INC. AND BARD HOLDING, INC. HAVE MEMORANDUM OF UNDERSTANDING FOR STRATEGIC PARTNERSHIP

Yarmouth, ME - Fluid Imaging Technologies, Inc. of Yarmouth, Maine, USA, today announced it has a memorandum of understanding with BARD Holding, Inc., of Fairless Hills, Pennsylvania, outlining a strategic partnership between the two firms, whereby BARD intends to work exclusively with Fluid Imaging's FlowCAM® imaging particle analyzers for organism detection and classification at its commercial algae production plant in Morrisville, PA and future product installation sites.

Media Contact: Faith Baker at 207-846-6100; faith@fluidimaging.com

Date: May 16, 2011

FOR IMMEDIATE RELEASE

Yarmouth, ME - Fluid Imaging Technologies, Inc. of Yarmouth, Maine, USA, today announced it has a memorandum of understanding with BARD Holding, Inc., of Fairless Hills, Pennsylvania, outlining a strategic partnership between the two firms, whereby BARD intends to work exclusively with Fluid Imaging's FlowCAM® imaging particle analyzers for organism detection and classification at its commercial algae production plant in Morrisville, PA and future product installation sites.

With a patented algae growth technology, BARD Holding, Inc. launched a commercial-scale algae production and algae oil extraction facility in Morrisville, Pennsylvania in March of 2011. Their mission is to provide viable solutions to the demands for energy independence, reduction in harmful greenhouse gases and the invigoration of our domestic economy. Algae produced by BARD can be used for human, fish and animal consumption, and lipid-containing algae can be processed into biodiesel and other high market value bio-fuels and chemicals.

Large scale commercial production of algae requires constant monitoring to determine correct nourishment levels and detection of contaminants. Fluid Imaging Technologies' FlowCAM is used in the commercial algae and biofuel production process to detect, enumerate and classify lipid-containing algae, and also to monitor algal growth, nutrition and contamination during the production process. The FlowCAM combines rapid digital imaging with microscopy, taking hundreds of high-resolution, digital images of individual algae cells and other particles within seconds. It automatically provides data for each cell or particle on up to 30 parameters, including count, size, shape and concentration. All images and data are then saved for further analysis using FlowCAM's proprietary pattern recognition and image management software called VisualSpreadsheet.

Mr. Peterson commented, "The FlowCAM was originally developed for algal analysis, so it is optimally suited to serve in this burgeoning, global market. What's more, it is rewarding for Fluid Imaging to participate as part of an environmentally friendly solution to the growing problem of fossil fuel shortages and excessive carbon emissions, in that algae sequesters carbon as part of its life cycle to produce an oil content known as lipids. Fostering this valuable relationship with BARD, a successful company on the cutting edge of algae-to-biofuel technology, is promising for both of our firms".

Fluid Imaging Technologies, Inc. manufactures FlowCAM desktop and portable instrumentation for rapid characterization, imaging and monitoring of particles and cells in fluids. The instrument is used in oceanographic research as well as for monitoring municipal water supplies, food and beverages, pharmaceutical formulations, biofuels, chemicals, plastics and other industrial applications.

For more information on FlowCAM®, contact Lew Brown, Fluid Imaging Technologies, Inc.; 65 Forest Falls Drive, Yarmouth, ME 04096; Phone: 207.846.6100; Fax: 207.846.6110 www.fluidimaging.com;
For further information on BARD Holding, Inc. visit www.bardholding.com

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