LEVITTOWN, Pa., March 4, 2004 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP), an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's, today agreed to acquire a second wireless location from Florida-based Wireless Unlimited, Inc. The deal is expected to close within 30 days.
FTS CEO Scott Gallagher commented, "Our proposed acquisition of Wireless Unlimited, as well as the recently closed acquisition of All Clear Wireless are examples of our ability to execute our roll-up strategy and build long term value for FTS and our shareholders." Mr. Gallagher added, "With four consecutive quarters of top-line revenue growth under our belt, FTS is on track to meet or exceed our performance targets issued to our stockholders."
About FTS Wireless, Inc.
FTS Wireless Inc. is an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's. FTS Wireless currently operates five retail wireless locations in the Florida Gulf Coast region and one location in the Philadelphia suburban market and through its e-commerce sites, www.SatPhoneCenter.com and www.CellularDeals.com, FTS Wireless markets to customers worldwide. For additional information about FTS Apparel, Inc. or its subsidiary, please visit our website at www.FTSWireless.com or review our 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, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, 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 undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.