FSI Announces 2011 First Quarter Financial Results and Returns to Profitability

Richard Ball, Chief Executive Officer of FSI Energy Services Inc. (TSX
VENTURE:TSI) ("FSI"), is pleased to announce financial results for the three
months ended March 31, 2011.




Financial Highlights                       Quarter         Quarter         
                                             ended           ended         
                                    March 31, 2011  March 31, 2010         
                                                ($)             ($) Change 
---------------------------------------------------------------------------
                                                                           
Revenue                            $       683,644         735,437       7%
---------------------------------------------------------------------------
                                                                           
Earnings (loss) before                                                     
 interest, taxes,                                                          
 depreciation                                                              
and amortization (EBITDA)                  113,675         (88,347)    229%
---------------------------------------------------------------------------
                                                                           
EBITDA margin (% of sales                                                  
 revenue)                                       17%            (12%)       
---------------------------------------------------------------------------
                                                                           
Profit (Loss) for the                                                      
 period                                     55,991        (147,863)    138%
---------------------------------------------------------------------------
                                                                           
Gross margin (% of sales                                                   
 revenue)                                        8%            (20%)       



The company is beginning to realize the effects of the recovery in the Canadian
energy sector ($683,644 - Q1 2011, $630,003 - Q1 2010). The first quarter of
2011 saw FSI return to profitability, primarily as a result of continued
aggressive cost cutting combined with increased filtration service revenue in
the domestic energy sector.


More in-depth analysis of financial results is contained within the company's
Management Discussion and Analysis, available on SEDAR.


About FSI

Through its wholly owned subsidiary FSI International Services Ltd., FSI Energy
Services Inc. is a Calgary-based manufacturing and service company specializing
in customized filtration, filtration-related technologies and Brine Plants for
the energy, chemical, and water treatment industries.


Forward-looking Information Cautionary Statement

Certain information contained in this press release, including information and
statements which may contain words such as "could", "plans", "should",
"anticipates", "expect", "believe", "will", and similar expressions and
statements relating to matters that are not historical facts are forward-looking
information. Forward-looking statements are based on the opinions and estimates
of management relying on their experience at the date the statements are made,
and are subject to a variety of risks, uncertainties and other factors that
could cause actual events or results to differ materially from those anticipated
in the forward-looking statements including, but not limited to delays or
uncertainties with regulatory approvals, including that of the TSX Venture
Exchange, changes in the business environment that might impact the intended use
of proceeds and terms of the financing and changes in the intention of the
parties to subscribe to the private placement. All of the forward-looking
information contained in this press release is qualified by this cautionary
statement. There can be no assurance that the actual results or developments
anticipated by FSI, as expressed or implied by the forward-looking information,
will be realized or, even if substantially realized, that they will have the
expected consequences to or effects on FSI or its business operations. FSI
disclaims any intention or obligation to update or revise any forward-looking
information as a result of new information or future events. Readers should not
place undue reliance on forward-looking information.