LEVITTOWN, Pa., July 15, 2004 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP) has requested its shares be immediately delisted from the Berlin-Bremen Stock Exchange. The company was listed on the Berlin-Bremen Exchange without the knowledge or authorization of FTS management. Management recently became aware of the German listing, and also learned of the widespread concern among many investors and other OTCBB companies of the potential of "naked short selling" on the German exchange.
FTS Chairman and CEO Scott Gallagher commented, "Because it is not clear to us the motive behind listing FTS shares on the Berlin-Bremen Exchange without our authorization or notice, we felt it to be in the best interest of the company and our shareholders to request delisting from the exchange immediately."
About FTS Group, Inc.
FTS Group, Inc., through its wholly owned subsidiary 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 six retail wireless locations and 1 wireless kiosk in the Florida Gulf Coast region and one retail wireless location in the Philadelphia suburban market, through its e-commerce site www.SatPhoneCenter.com, to customers worldwide. For additional information about FTS Group, 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, 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 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.