SOURCE: FTS Group, Inc.

September 25, 2007 07:00 ET

FTS Group Chairman and Chief Executive Officer Announces Increased Stake in Company

CEO Agrees to One Year Lock-Up Agreement on All Shares Held at December 31, 2007

TAMPA, FL--(Marketwire - September 25, 2007) - FTS Group, Inc. (OTCBB: FLIP), an acquisition and development Company operating in the Internet, Wireless and Technology space, today announced that its Chairman and Chief Executive Officer, Scott Gallagher, has expanded his personal investment in the Company by acquiring additional shares. Mr. Gallagher also announced his intentions to further increase his holdings of FTS common stock through the end of this year.

FTS Group, Inc. Chairman and CEO Scott Gallagher commented, "With our Company generating record operating results and what I believe to be an exciting future for FTS, I've acquired an additional 8,050,000 shares of common stock over the past four months through open market purchases and debt conversions. I've also agreed to a one year lock-up agreement on all shares currently held or acquired during the rest of 2007." Gallagher continued, "I have great confidence in our business model and look forward to continuing to execute our strategy for the benefit of both our stockholders and employees."

About FTS Group, Inc.

FTS Group, Inc. (OTCBB: FLIP) is a publicly traded acquisition and development Company. The Company generated profitable sales of $6.6 million during 2006, an increase of 409% from the previous year. FTS is focused on acquiring, developing and investing in cash flow positive businesses and viable business ventures, primarily those in the wireless and Internet space. The Company generates revenue through its three wholly owned subsidiaries: See World Satellites, Inc., FTS Wireless, Inc. and Elysium Internet, Inc. For additional information about FTS Group, Inc. or any of its wholly owned subsidiaries please review the Company's quarterly, annual and other filings with the Securities and Exchange Commission at http://www.SEC.gov or visit www.FTSGroup.com.

Forward-Looking Statements

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results and performance to differ materially from those referred to or implied by such statements. In addition, actual results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors is contained in the Company's Annual Report on Form 10-K and 10-K/A as filed with the Securities and Exchange Commission. Readers are cautioned not to place reliance on these forward-looking statements, which speak only as of the date hereof.

Contact Information

  • Contact:

    FTS Group, Inc.
    Scott Gallagher
    CEO
    727-417-7807
    Email Contact