March 24th 2003


2614 Queenswood Dr.

Victoria BC V8N 1X5



2002 Financial Results – Un-audited

Flexible Solutions is pleased to announce the cash financial results for 2002.

US$ 2002 2001 2000


Earnings (260,837)     22,122   138,971

Earnings per Share ($0.02)   0 $0.02

Shareholder Equity 6,201,673   530,614

2002 Financial Results selected from the Audited Financials

US$ 2002 2001 2000

Revenue 1,112,192 1,334,273 1,029,649

Earnings               (3,082,445)                 (233,955)   138,971

Earnings per share($0.29)($0.03)$0.02

Average strike price of outstanding options   $3.79 per share

Flexible Solutions management has chosen to release the Company’s financials in both formats because, in the opinion of the Board of Directors, the GAAP method of non-cash accounting for options can be both confusing and misleading unless a cash accounting is available for comparison.

To reconcile the un-audited cash results with the audited, the audited financials should be consulted in detail and the non-cash expenses resulting from option expenses removed from the respective years.

Flexible Solutions (AMEX – “FSI” and FRANKFURT –  “FXT”) is an environmental biotechnology company engaged in the development and sale of energy and water conservation products for drinking water, agriculture and swimming pools throughout the world.

For more information please contact: David Katzov or Grant Moonie 250 477 9821

Jens Biertumpel 604 892 1799     

The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbor” for forward-looking statements.  Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties.  These forward-looking statements may be impacted, either positively or negatively, by various factors.  Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.