Contact Information: Contact: http://www.FTSGroup.com Scott Gallagher CEO Voice: (727) 417-7807 e-mail:
FTS to Roll-Up Elysium Internet, a Direct Navigation Internet Advertising Company, as Wholly Owned Subsidiary
Company Signs Non-Binding Letter of Intent to Acquire Internet Directory Business
| Source: FTS Group, Inc.
TAMPA, FL--(Marketwire - June 19, 2007) - FTS Group, Inc. (OTCBB : FLIP ), a publicly traded
acquisition and development Company, today announced that it will roll-up
its investment in Elysium Internet into a new wholly owned subsidiary. The
Company also announced the signing of a non-binding letter of intent to
acquire a two-year-old, profitable Internet directory business.
FTS Chairman and CEO Scott Gallagher commented, "This is a major move
forward in the development of our Company. Today we begin our full-scale
entry into the Internet media space. Over the past year and a half Elysium
Internet has signed several letters of intents in deals valued as high as
$15 Million US. Obviously these deals have not closed and we have decided
to roll up our investment into Elysium and form a new wholly owned
subsidiary Elysium Internet, Inc." Gallagher went on to say, "Today we
announce the signing off a letter of intent to acquire an Internet
directory business generating around $90,000 a year in sales with profits
of around $50,000. The business has to date been run by its founder.
Although the business is small, it has over 800 customers and we're very
excited about the substantial growth opportunities in the directory
business. Were putting our team together and feel confident that this and
other directory sites currently under development will generate sales of
around $750k to $1 Million or more over the next twelve months if we don't
acquire anything else. The most exciting part of the new Internet directory
business is the net profit margins expected to be around 50%."
Elysium Internet, Inc. will develop an Internet advertising model providing
customers with targeted direct navigation traffic to market their products
and services. The Company currently owns nearly 1,100 Internet Domains with
plans to develop and monetize them all over the next few months. Some of
the Company's top direct navigation Internet domain names include
TheDirectory.com, eBoxing.com, Passenger.net, Saleable.net and many others.
About FTS Group, Inc.
FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded acquisition and
development Company operating in the Wireless, Technology and Internet
space through its wholly owned subsidiaries FTS Wireless, Inc. and See
World Satellites, Inc. The Company operates through retail locations in
Florida and Pennsylvania and globally over the Internet through its web
sites www.FTSGroup.com, www.CellChannel.com, www.SeeWorld.biz and
www.FTSWireless.com. 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
http://www.SEC.gov 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.