FSI Announces 2013 Third Quarter Financial Results

Richard Ball, Chief Executive Officer of FSI Energy Group Inc. ("FSI" or the
"Company") (TSX VENTURE:FSI), is pleased to announce financial results for the
three months ended September 30, 2013.




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Financial Highlights                                                        
(CAD):                           Nine months ended       Three months ended 
                                     September 30:            September 30: 
                           ------------------------ ------------------------
                           ------------------------ ------------------------
                                  2013        2012         2013        2012 
                           ----------- ------------ ----------- ------------
Revenue                     11,782,200   2,830,867    1,222,690     522,897 
Operating profit (loss)      1,558,814    (710,225)      53,345    (611,596)
Comprehensive income (loss)  1,201,340    (778,964)      26,440    (635,590)
EBITDA(1)                    1,763,691    (596,820)      87,171    (576,142)
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In the third quarter of the year, FSI completed installation of its largest
brine plant to date, resulting in total year- to-date revenue from the foreign
segment of just over $10.3 million, and total revenue for the year-to-date of
just under $12 million.


Key highlights:



--  Operating profit for the first nine months of 2013 increased to
    $1,558,814, up from the same period last year of an operating loss of
    $710,225 
--  Selling, General & Administrative expense for the first nine months of
    the year decreased by over 22% to $1,143,714 (2013) from $1,470,055
    (2012) 



Further detail may be found in the Company's Management Discussion and Analysis
- which is available on SEDAR.


(1) EBITDA does not have a standard definition prescribed by IFRS and therefore
may not be comparable to similar measures disclosed by other companies. The
Company utilizes these measures in making operating decisions and assessing the
Company's financial performance and as an indicator of its ability to service
its liabilities. This non-GAAP measure has not been presented as an alternative
to net income (loss) or any other measure of performance or liquidity prescribed
by IFRS. EBITDA is calculated as follows:




September 30,                   Three months ended        Nine months ended 
                           ------------------------ ------------------------
                           ------------------------                         
                                  2013        2012         2013        2012 
                                     $           $            $           $ 
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Net income (loss)               26,440    (635,590)   1,201,340    (778,964)
Add back:                                                                   
Deferred income taxes           12,000           -      418,000           - 
Finance costs                   11,046      23,620       36,601      71,909 
Depreciation included in                                                    
 cost of sales                  32,409      31,145       92,373      93,652 
Depreciation                     5,276       4,683       15,377      16,583 
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EBITDA                          87,171    (576,142)   1,763,691    (596,820)
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About FSI

Through its wholly owned subsidiary FSI International Services Ltd., FSI Energy
Group 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. In particular, this press release contains forward-looking
information about the completion of the Brine Plant export contracts and the
revenues associated therewith. 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, the risk factors discussed in FSI's MD&A and other continuous
disclosure documents. 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.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
FSI Energy Group Inc.
Richard Ball
President and CEO
[phone]
[phone] (FAX)
www.fsigroup.ca