Exhibit 99

		NEWS

     For additional information contact:     Benno Sand-Investor and Financial Media 952.448.8936

FOR IMMEDIATE RELEASE

     MINNEAPOLIS (March 22, 2011)—FSI International, Inc. (Nasdaq: FSII), a manufacturer of capital equipment for the microelectronics industry, today reported financial results for the second quarter of fiscal 2011 and for the six months ended February 26, 2011.

Fiscal 2011 Second Quarter and First Half

     Second quarter fiscal 2011 sales increased 62 percent to $30.8 million, compared to $18.9 million for the same period in fiscal 2010. The company’s net income for the second quarter of fiscal 2011 was $4.9 million, or $0.13 per share, compared to net income of $609,000, or $0.02 per share, for the second quarter of fiscal 2010.

     Sales for the first half of fiscal 2011 increased 24 percent to $41.6 million, compared to $33.5 million for the same period of fiscal 2010. The company’s net income for the first half of fiscal 2011 was $2.4 million, or $0.06 per share, compared to net income of $555,000, or $0.02 per share, for the first half of fiscal 2010.

     The second quarter financial results included $216,000 and $865,000, of stock-based compensation in fiscal 2011 and 2010, respectively. First half financial results included $403,000 and $1,128,000 of stock-based compensation in fiscal 2011 and 2010, respectively.

Balance Sheet

     Cash, cash equivalents, restricted cash and long-term securities at the end of the second quarter were $34.9 million. The company generated $342,000 from operations and used $3.5 million of cash in operations, during the second quarter and first half of fiscal 2011, respectively. Inventory increased from $26.1 million at the end of fiscal 2010 to $36.9 million at the end of the second quarter of fiscal 2011, as the company placed products at customers for evaluation and began to ramp ORION^® single wafer cleaning system production in anticipation of follow-on orders.* At the end of the second quarter, the company had a current ratio of 4.3 to 1.0 and a book value of $2.24 per share and no debt.

Outlook

     Given the quarter-to-date orders and the visible pipeline of order opportunities, the company expects third quarter orders to approach $40 million as compared to $23.1 million in the second quarter of fiscal 2011.* This assumes the receipt of several follow-on ANTARES^® CryoKinetic cleaning system and ORION^® system production orders that are anticipated late in the quarter.*

     Based on the backlog and deferred revenue levels at the end of the second quarter and expected additional third quarter orders, the company expects third quarter fiscal 2011 revenues to again exceed $30 million, as compared to $30.8 million in the second quarter of fiscal 2011.*

     Based upon the anticipated gross profit margin and the operating expense run rate, the company expects net income of $4.5 to $5.5 million for the third quarter of fiscal 2011.* The company expects to use cash in operating activities in the third quarter, as we support the higher expected third quarter order levels and based upon the expected timing of third quarter shipments.*

Conference Call Details

     FSI investors have the opportunity to listen to management’s discussion of its financial results on a conference call at 3:30 p.m. CDT today. The company invites all those interested to join the call by dialing 888.469.1667 and entering access code 4274595. For those who cannot listen to the live broadcast, a replay will be available shortly after the call by dialling 866.468.7674.

About FSI

     FSI International, Inc. is a global supplier of surface conditioning equipment, technology and support services for microelectronics manufacturing. Using the company’s broad portfolio of cleaning

products, which include batch and single-wafer platforms for immersion, spray, vapor and cryogenic aerosol technologies, customers are able to achieve their process performance, flexibility and productivity goals. The company’s support services programs provide product and process enhancements to extend the life of installed FSI equipment, enabling worldwide customers to realize a higher return on their capital investment. For more information, visit FSI’s website at http://www.fsi-intl.com, or call Benno Sand, 952.448.8936.

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995

     This press release contains certain “forward-looking” statements (*), including, but not limited to expected ORION^® system follow-on production orders, expected orders, expected third quarter revenues, expected use of cash, expected timing of shipments and expected financial results for the third quarter of fiscal 2011. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those in such forward-looking statements. Such risks and uncertainties include, but are not limited to, changes in industry conditions; order delays or cancellations; general economic conditions; changes in customer capacity requirements and demand for microelectronics; the extent of demand for the company’s products and its ability to meet demand; global trade policies; worldwide economic and political stability; the company’s successful execution of internal performance plans; the cyclical nature of the company’s business; volatility of the market for certain products; performance issues with key suppliers and subcontractors; the level of new orders; the timing and success of current and future product and process development programs; the success of the company’s direct distribution organization; legal proceedings; the potential impairment of long-lived assets; and the potential adverse financial impacts resulting from declines in the fair value and liquidity of investments the company presently holds; the impact of natural disasters on parts and consumables supply and demand for products; as well as other factors listed herein or from time to time in the company’s SEC reports, including our latest 10-K annual report. The company assumes no duty to update the information in this press release.

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FSI INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
(in thousands, except per share data)
(unaudited)

		Second Quarter Ended								Six Months Ended
		Feb. 26, 2011				Feb. 27, 2010				Feb. 26, 2011				Feb. 27, 2010
Sales		$	30,752			$	18,925			$	41,633			$	33,542
Cost of goods			17,703				10,882				23,413				18,932
Gross margin			13,049				8,043				18,220				14,610
Selling, general and administrative expenses			4,957				4,267				9,628				8,061
Research and development expenses			3,172				3,263				6,172				6,019
Operating income			4,920				513				2,420				530
Interest and other (expense) income, net			(1	)			90				(9	)			35
Income before income taxes			4,919				603				2,411				565
Income tax (benefit) expense			(1	)			(6	)			(7	)			10
Net income		$	4,920			$	609			$	2,418			$	555
Income per share — basic		$	0.13			$	0.02			$	0.06			$	0.02
Income per share — diluted		$	0.13			$	0.02			$	0.06			$	0.02
Weighted average common shares
Basic			38,635				31,917				38,589				31,777
Diluted			39,176				32,252				38,995				32,017

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FSI INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(in thousands)
(unaudited)

		Feb. 26, 2011				Aug. 28, 2010
Assets
Current assets
Cash, restricted cash and cash equivalents		$	32,089			$	34,687
Receivables, net			16,971				18,935
Inventories			36,933				26,145
Other current assets			4,251				3,673
Total current assets			90,244				83,440
Property, plant and equipment, net			13,095				13,204
Long-term securities			2,766				3,612
Investment			460				460
Other assets			1,642				1,582
Total assets		$	108,207			$	102,298
Liabilities and Stockholders’ Equity
Current liabilities
Trade accounts payable		$	9,372			$	8,396
Deferred profit*			5,770				2,669
Accrued expenses			5,946				8,020
Total current liabilities			21,088				19,085
Long-term liabilities			459				410
Total stockholders’ equity			86,660				82,803
Total liabilities and stockholders’ equity		$	108,207			$	102,298

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FSI INTERNATIONAL, INC. AND SUBSIDIARIES
MISCELLANEOUS FINANCIAL INFORMATION
(in thousands, except percentages, per share and total employee data)
(unaudited)

		Six Months Ended
		Feb. 26, 2011				Feb. 27, 2010
Sales by Area
United States			46	%			49	%
International			54	%			51	%
Cash Flow Statement
Capital expenditures		$	1,004			$	404
Depreciation		$	1,097			$	1,329
Miscellaneous Data
Total employees, including contract			325				272
Book value per share		$	2.24			$	1.63
Shares outstanding			38,699				32,071

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