FAT32 0.10 r384 has been released.
Netlabs: http://trac.netlabs.org/fat32
The latest stable release is version 0.9.13 and can be found also at:
URL: http://trac.netlabs.org/fat32
"FAT32.IFS for OS/2 will allow you to access FAT32 partitions from OS/2.
FAT32 is open source software under the GNU Lesser General Public License."
Source: eCSoft/2