Tuesday, July 3, 2012

IceWEB (OTCBB: IWEB) Execs Purchase Additional Stock, Confidence in Company

IceWEB (OTCBB: IWEB) Execs Purchase Additional Stock, Confidence in CompanyPalm Beach, FL 7/3/12 (StreetBeat) -- In a sign of IceWEB's continued strength, IceWEB, Inc.™ (OTCBB:IWEB), www.IceWEB.com, a leading provider of Unified Data Storage appliances for cloud and virtual environments, today announced that senior executives have purchased additional shares of the company's stock.

Taking advantage of IceWEB's recent low stock price, IceWEB executives Hal Compton, Sr, Interim CEO, and Mark Lucky, CFO and Interim COO, purchased 160,000 shares of IceWEB common stock. As an added sign of confidence in IceWEB's ability to drive shareholder returns, Mr. Compton has agreed to serve as acting CEO without any cash compensation since assuming his position in the wake of the tragic death of IceWEB's former CEO John Signorello this past May, 2012.

"Since joining IceWEB's board in 2005, I've seen a company with tremendous potential make continuous progress in the pervasive and rapidly growing market for data storage solutions, especially in the past six months," said Hal Compton, Interim CEO at IceWEB. "Since increasing my involvement with IceWEB as CEO last month, my perspective of the company's current strength and potential has only grown stronger. IceWEB's senior management team is truly top-notch, supporting a robust product line in a market which traditional vendors have yet to address with their solutions. My recent accumulation of additional shares at relatively attractive pricing underscores my personal belief in IceWEB."

About IceWEB, Inc.
Headquartered just outside of Washington, D.C., IceWEB manufactures award-winning, high performance unified data storage products with enterprise storage management capabilities at a fraction of the price of traditional providers. Through thin provisioning, target deduplication and inline compression, IceWEB's unified storage arrays enable standardization, consolidation and optimized storage utilization for virtual and cloud environments, saving up to 90% of storage costs, while reducing space, power and cooling requirements and simplifying storage management. For more information please call 800-465-4637 or visit www.iceweb.com.

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