SOURCE: FTS Group, Inc.

October 17, 2005 10:38 ET

FTS Signs Investment Banking Agreement

Company Retains Leading Placement Agent to Secure Financing for Proposed Acquisition Spin-off Transaction

TAMPA, FL -- (MARKET WIRE) -- October 17, 2005 -- FTS Group, Inc. (OTC BB: FLIP), a publicly traded acquisition and development company, today announced that it has secured an investment banking agreement with New York based Westor Capital Group, Inc.

Since 1999, Westor Capital Group (WCG) has assisted emerging growth companies in the corporate financing arena, specializing in structuring and arranging equity and debt financings. Westor Capital is currently one of the top placement agents in the country having arranged financings in excess of $30 million within the past 12 months.

FTS Group's CEO, Scott Gallagher, stated, "We're excited to have Westor on board once again. We are pleased they accepted this engagement to participate in the $5.5 million acquisition/spin-off transaction we announced last week. This is an exciting moment in the evolution of our business. Closing this transaction will result in tangible increased stockholder value for everyone involved in FTS, we're proud that Westor believes in that vision and has decided to assist us in realizing it."

About Westor Capital Group, Inc.

Westor Capital Group is a service oriented boutique Investment Bank that offers specialized financial services. WCG structures and arranges equity and debt financings for public companies, provides equity trading and execution for institutional and private clients, and offers comprehensive retail brokerage services. Westor Capital was founded in 1999 and is a member of the NASD and SIPC.

About FTS Group, Inc.

FTS Group Inc., (OTC BB: FLIP) is an acquisition and development Company focused on acquiring, developing and investing in emerging cash-flow positive Companies and viable business ventures. Its wholly owned subsidiary FTS Wireless is an emerging regional operator of retail wireless locations that market and sell next-generation wireless products and services and operate Wi-Fi HotSpots. FTS Wireless currently operates a chain of retail wireless locations in the Florida Gulf Coast region. For additional information about FTS Group, Inc. or its subsidiary, please visit our web site http://www.FTSWireless.com or review periodic filings with the Securities and Exchange Commission at http://www.sec.gov.

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 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 Wireless, Inc.
    Scott Gallagher
    CEO
    (215) 688-2355
    Email Contact