SOURCE: F3 Technologies, Inc.

October 14, 2008 10:00 ET

F3 Poised to Ascend to New Heights in Business Software Market

ALPHARETTA, GA--(Marketwire - October 14, 2008) - F3 Technologies, Inc. (PINKSHEETS: FTCH), an Atlanta-based SaaS development company and application service provider, announced today the scheduled releases of new Ascend™ Global Business System Modules are ahead of schedule. Ascend™ Global Business System, one of F3's flagship products, is a full service on-demand business software system for managing all organization-wide tasks on one unified technology platform.

The Ascend™ target market is the over 26.8 million small and medium sized businesses (SMB) in the United States. Gartner Research, the world's leading information technology research company, states that "Software as a service is forecast to have a compound annual growth rate of 22.1% through 2011 for the aggregate enterprise application software markets, more than double the growth rate for total enterprise software." These statistics clearly indicate that SaaS is gaining greater acceptance and mainstream momentum, especially with larger corporations. This suggests the future of IT is also moving away from on-premise system administration.

In addition, due to the ability of Ascend™ to support any terrestrial language in the world, the millions of international SMBs are also included in this product's target market. IDC, the premier global provider of market intelligence for the information technology, telecommunications, and consumer technology markets, predicts "IT spending in the BRIC countries -- Brazil, Russia, India, and China -- will grow, in aggregate, by 16% in 2008, reaching $115 billion." Frank Connor, CEO of F3 Technologies states, "F3's 2009 strategic goal is to capture one quarter of 1 percent (.25%) of this market which translates to $287.5 Million." Frank Gens at IDC and the 2008 IDC Predictions Team recently wrote, "The need to hedge slow-growth developed markets will drive IT suppliers to invest as well in other emerging economies, of which the next nine -- based on 10%+ growth rates and the greatest net-new IT spending potential in the next four years -- are Mexico, Poland and Turkey, followed by Vietnam, Thailand, Saudi Arabia, Argentina, Colombia, and United Arab Emirates. A look at IT spending in 2011, benchmarked against 2007 spending levels, shows that the BRIC+9 will generate nearly as much net-new IT spending as the EU but will grow at over two times the rate." F3 has positioned the Ascend™ product suite to take full advantage of this growing global market by not only meeting a comprehensive range of business needs with a superior product, but doing it in every language in the world.

The current competitors to the Ascend™ Global Business System are NetSuite, Salesforce.com, PeopleSoft, and SAP. While these companies have features that support most business activities, none of them have all of the features of Ascend™. F3 Technologies will be releasing new versions of the popular Content Management System (CMS), E-Commerce Store Builder, Project Management, and Customer Relationship Management (CRM) modules in Quarter 4 of 2008. At this time, F3 intends to launch a full-scale marketing program to introduce these products as quickly into the market as possible. F3's marketing strategy is to emphasize the range of functionality of the Ascend™ products while maintaining flexible pricing to eliminate barriers to entry for all potential buyers. F3 plans to aggressively build the client base through direct sales, direct mail, radio, strategic partnerships and value added resellers.

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