Functional Technologies Files a Notice of Intention to Make a Proposal Under the Bankruptcy and Insolvency Act

Functional Technologies Corp. (TSX VENTURE:FEB)(OTCQX:FEBTF) (the "Company")
announced today that it has filed a notice of intention to make a proposal to
its creditors (the "Notice") under the Canada Bankruptcy and Insolvency Act
("BIA"). This process has been initiated because the Company is currently unable
to meet its obligations to its secured and unsecured creditors. The Company's
intent in filing the Notice, and later the proposal, is to seek to restructure
its affairs and make an arrangement with its creditors in order to carry on its
business. As a consequence of the filing of the Notice, all of the Company's
creditors are automatically stayed from taking any proceedings against the
Company or its assets for an initial period of thirty days. 


About Functional Technologies Corp.

Functional Technologies develops and commercializes proprietary, advanced
yeast-based solutions to significant challenges in the food, beverage and
healthcare industries. The Company's platform improves the performance of innate
yeast functions, and prevents the formation of naturally occurring toxins and
contaminants that either affect final product quality or are classified by the
World Health Organization as probable human carcinogens. Functional
Technologies' lead technologies include yeasts that prevent and reduce the
formation of the foul-smelling hydrogen sulfide (H2S) and the carcinogen
Acrylamide, both naturally occurring by-products of food and beverage
processing. The head office and R&D operations for Functional Technologies are
based in Vancouver, BC, Canada.


For more information, please visit our website at www.functionaltechcorp.com. 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Functional Technologies Corp.
Maurice Boucher
+1.604.424.8909
www.functionaltechcorp.com