SOURCE: FTS Group, Inc.

May 02, 2007 06:00 ET

FTS Group to Report First Quarter Earnings on May 15th

Company Makes $162,500 in Additional Debts Payments During Q1

TAMPA, FL -- (MARKET WIRE) -- May 2, 2007 -- FTS Group, Inc. (OTCBB: FLIP) an acquisition and development Company operating in the wireless, technology, and Internet space, today announced that it plans to report its 2007 first quarter operating results after the market close on Tuesday May 15th, 2007. FTS Recently filed 2006 financial results reflecting a 500% year over year increase in its top line revenue.

FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "We now expect to report our Q1 operating results after the market closes on May 15, 2007. We'll be hosting a shareholder conference approximately 7 to 10 days after the report is filed to provide investors with an update regarding our business model and other key points of interest." Gallagher went on to say, "Our operating Companies completed another strong operational quarter and FTS Group made an additional $162,500 in payments relating to outstanding debt obligations. We finally released our restated financials for the previous year of operations including the fair value calculations for outstanding warrants as now required by GAAP accounting. These matters have consumed a considerable amount of time over the last year and I'm personally looking forward to refocusing 100% of my energy back to the business of FTS. Were working diligently to continue the tremendous sales and earnings growth trend FTS has experienced since 2003. We expect FTS Group to be a debt-free Company by the end of the year."

About FTS Group, Inc.

FTS Group, Inc. (OTCBB: FLIP) is a publicly traded holding company operating in the wireless, technology, and Internet space through its wholly owned subsidiaries FTS Wireless, Inc. and See World Satellites, Inc. and its investments in portfolio Companies. The Company operates through retail locations in Florida and Pennsylvania and globally over the Internet through its web sites,, and 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 or contact the Company at the e- mail or phone number below.

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, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future 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 that should be considered 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.

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