Food Technology Service, Inc. Reports Earnings

MULBERRY, Fla.--(Business Wire)--
Food Technology Service, Inc. (Nasdaq:VIFL) today announced financial results
for the year ending December 31, 2008.

Food Technology Service, Inc. had revenue of $2,507,078 in 2008. This is an
increase of 19.9% over 2007 revenue of $2,092,084. In 2006, the Company
reflected a portion of the value of tax-loss carry-forward credits on its
financial statements as required by Generally Accepted Accounting Principles.
Based on increased profitability in 2008 and potential future profitability, the
Company has increased the value of the tax-loss carry-forward credits which
increased net income in 2008 and stockholders equity at December 31, 2008 by
$525,000. To facilitate comparison to 2007, profit for 2008 is being expressed
as net income (with increased tax credit benefit) and income before taxes
(without increased tax credit benefit). The Company had net income (with
increased tax credit benefit) of $1,030,387 in 2008 compared to $234,752 in
2007. This is an increase of approximately 339% over 2007. Net income earnings
per share were $0.375 for 2008 compared to $0.085 for 2007. The Company had
income before taxes of $505,387 in 2008 compared to $234,752 in 2007, an
increase of about 115%. Earnings per share before taxes were $0.183 for 2008
compared to $0.085 for 2007.

Revenue for the fourth quarter of 2008 was $641,731 compared to $497,723 during
the same period in 2007. This is an increase of about 29%.

Food Technology Service, Inc. CEO Dr. Richard Hunter said "I am proud of the
Company`s continuing growth of revenue and income." "I am also especially
pleased by our efforts to reduce debt. In 2008, we fully paid the $239,000 loan
on a warehouse constructed in 2006 and reduced other debt owed by $200,000,"
said Hunter.

Food Technology Service, Inc. provides irradiation services for food items,
medical products and consumer goods to enhance the safety of those products. The
Company is certified to ISO 13485:2003 standards for radiation sterilization
services for medical devices.

Except for historical matters contained herein, the matters discussed in this
press release are forward-looking statements and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect assumptions and involve risk and
uncertainties that may affect business and prospects and cause actual results to
differ materially from these forward-looking statements.

Food Technology Service, Inc., Mulberry
Richard G. Hunter Ph.D., President/CEO, 863-425-0039
www.ftsi.us

Copyright Business Wire 2009