SOURCE: Flint Telecom Group, Inc.

February 24, 2010 12:28 ET

Flint Telecom Group Appoints New President and Makes Board Changes

KANSAS CITY, MO--(Marketwire - February 24, 2010) -  Flint Telecom Group, Inc. (OTCBB: FLTT) announced today that it has appointed Bernard A. Fried as President and COO with immediate effect. Mr. Fried will also join the Company's Board of Directors.

Mr. Fried has over 30 years of telecom and technology experience. He has applied his business development, operations, and sales skills to consult with Fortune 1000 and international companies in the US, India, the Philippines, and Australia. His clients included such companies as American Electric Power, AT&T, Capital One, Telstra, and Nippon Telephone. During his career, he has held numerous executive positions in the call center, telecommunications, and biometric industries. Since 1975, Mr. Fried has developed and implemented successful sales and marketing strategies and marketing programs for telecommunications companies. 

He currently serves on the Board of Directors of the United States Internet Industry Association, and is a former Board member of Ascent (merged into Comptel), one of the primary telecommunications industry associations. Throughout his career, Bernie has helped companies introduce programs, products, and services for entering new markets; taught telecommunications and proposal writing courses for corporate and government officials at the State University of New York; and currently teaches management and leadership courses in the School of Professional and Graduate Studies at Baker University in Kansas.

Flint Telecom Group's CEO, Vincent Browne, said, "We are delighted to add Bernie's experience and leadership skills to the team as the Company completes its cost cutting and restructuring and prepares for the next stage of growth in 2010. Bernie has worked in a consulting role with the Company for over 12 months, understands our strategies, and has helped the Company continue to build its business throughout this difficult capital market environment. It is a great vote of support for me personally and for the Company for Bernie to join us in this senior leadership role. I look forward to working with him to take our business to the next level."

Bernie Fried, Flint Telecom's new President and COO, commented, "I am very excited in joining Flint Telecom Group as the Company completes its restructuring and prepares the way for future growth. As the global financial uncertainty shows signs of improvement, we believe that Flint Telecom Group is clearly in the right place at the right time, and we are excited to build the business to be a market leader in the competitive VoIP and technology space for the continued benefit of our shareholders. Our short term focus is on strengthening the balance sheet and completing the plan to get the business cash flow positive in the short term."

The Company also announces the departure of Anthony LaPine and Robert Lanz from the Board of Directors. The Company's Board of Directors now includes Vincent Browne, Chairman and CEO, Bernard Fried, President and COO, and Mr. Michael Butler. The Company expects to make additional appointments to the board as part of the restructuring process.

Forward-Looking Statements

The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; the Company's ability to maintain working capital requirements to fund operations; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential debt holders and vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's filings with the Securities and Exchange Commission.

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