SOURCE: Flint Telecom Group, Inc.

Flint Telecom Group, Inc.

January 31, 2011 09:05 ET

Flint Telecom Sees Additional VoIP Revenues of $20 Million in 2011 With Pending and Planned Acquisitions

Expects Sustained Operating Profits When Consolidated

OVERLAND PARK, KS--(Marketwire - January 31, 2011) - Flint Telecom Group, Inc. (http://www.flinttelecomgroup.com) (OTCBB: FLTT), an International Telecoms Technology and Services Organization, today announces that advanced discussions are under way to acquire a number of turnkey VoIP providers which are currently delivering telecom and data services to small and medium enterprises in the United States. Completion of each acquisition will bring immediate profitable revenues to the group. The projected revenues, when all planned acquisitions are completed throughout the year, are expected to reach over $20 million in 2011.

The market for VoIP services in the U.S. continues to grow rapidly, particularly on mobile devices, with the Telecoms Industry Association seeing the VoIP share of total U.S. residential and business phones lines reaching 37% and 10% respectively by 2015. Ovum, the market leading research company, forecasts fixed VoIP revenues in United States reaching nearly $9 billion annually by 2014.

Bernie Fried, President and COO of Flint Telecom Group, commented, "We have identified hundreds of suitable acquisition candidates, each providing similar services to end-user customers that lend themselves to operational consolidation. These companies are unable to achieve sufficient scale on their own due to size, but they have achieved the hardest aspect in growing any business, acquiring customers. By consolidating the various businesses operations under one roof, duplicate costs are eliminated and network elements are reduced to achieve greater returns from the existing revenue streams."

Vincent Browne, Chairman and Chief Executive of Flint Telecom Group, said, "We anticipate acquiring in excess of 10 companies in our telecoms unit this year. The gross margins generated from these VoIP services range from 50% to 75%, which will further enhance our stated aims of improving overall gross margins and delivering sustainable operating profits. We plan to fund the acquisitions with long term debt and deferred stock grants where feasible, to minimize market impact."

About Flint Telecom Group, Inc.
Flint Telecom Group Inc. is an international Telecoms Technology Organization with a portfolio of companies that deliver VoIP and wireless communications and prepaid financial products and services globally. Headquartered in Overland Park, Kansas with offices throughout the US, India and Ireland, Flint Telecom Group is a fully reporting company trading on the OTC Bulletin Board® (OTCBB) under the ticker symbol: FLTTD.OB. Flint Telecom ranked number 72 in the 2010 Deloitte Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Flint Telecom was founded by a team of telecom and technology experts with a proven track in building and maintaining international technology companies. Additional information may be found at www.flinttelecomgroup.com

This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including risks and uncertainties associated with the integration of businesses following an acquisition, the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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