YARDLEY, Pa., July 29, 2003 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Apparel, Inc. (pending name change to "The FTS Group") (OTCBB:FLIP), announced today it has received its first corporate order for Wi-Fi hardware and equipment from Jim DePaul Productions, Inc., a privately held installer of broadband and wireless networks. FTS also announced that it's first Wi-Fi Hot Spot in the Tampa market has gone live.
FTS CEO Scott Gallagher stated, "We are pleased to see positive results from our initial marketing efforts of Wi-Fi products to the corporate market. We see this segment of the Wi-Fi market presenting a significant opportunity to FTS as the 802.11 standard gains greater acceptance. We are also pleased to announce that our first Wi-Fi "HotSpot" in Tampa has gone live and laptop or PDA users within approximately 300 feet of our wireless store in Carrollwood, FL, can now access the Internet wirelessly through our portal."
With the Wi-Fi market growing at escape velocity, a report out last week by New York based Allied Business Intelligence (ABI) states, "The greatest opportunity could potentially be with the cellular providers because it will help them drive consumers to the data usage model." The analyst went on to predict "that hot spots will grow from their current level of 28,000 locations to more than 200,000 within five years with revenue generated from hot spot technology rising from $59 million this year to $3.1 billion in 2008."
About FTS Wireless
Tampa, FL-based FTS Wireless, a wholly owned subsidiary of FTS Apparel, Inc. (pending name change to "The FTS Group") traded on the OTCBB under the ticker symbol "FLIP", is a diversified wireless company with locations in the Gulf Coast Market of Florida and the Suburban Philadelphia region. The Company also markets wireless products globally through its e-store. For additional information about FTS Apparel, Inc or any of its subsidiaries, please visit our website at www.FTSWireless.comor review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
About Jim DePaul Productions
Boston, MA-based Jim DePaul Productions, Inc. is a privately held installer of broadband and wireless networks servicing both corporate and retail customers, in the greater Boston metro area. For additional information about Jim DePaul Productions, please visit www.jdpinc.net.
Forward-Looking Statement
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, successful introduction of new products, continued product innovation, the success of new enhancements to the Company's brand image, growth in domestic sales, ability to attract and retain key personnel, sales and earnings results, 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.