FalconStor CFO Lou Petrucelly Receives Long Island Business News 40 Under 40 Award

FalconStor CFO Lou Petrucelly Receives Long Island Business News 40 Under 40

MELVILLE, N.Y., Jan. 25, 2013 (GLOBE NEWSWIRE) -- FalconStor Software, Inc.
(Nasdaq:FALC), a market leader in disk-based data protection, today announced
that Louis J. Petrucelly, FalconStor's chief financial officer, vice president
and treasurer, has been selected as a recipient of the Long Island Business
News 40 Under 40 Award for 2013. The award ceremony took place at a gala event
on January 24.

This year marks the 15^th anniversary of the annual 40 Under 40 Award program,
a salute to 40 men and women who have achieved success in business before the
age of 40. Recipients of the award are individuals who have a proven track
record of career success, are involved in mentoring others and promoting their
profession and who give back to their communities.

"The honor accorded to Lou by this year's 40 Under 40 Award program is well
deserved, as it recognizes the Island's best and brightest for their
exceptional business accomplishments and community involvement," said Jim
McNiel, president and CEO of FalconStor. "For more than five years, Lou has
demonstrated his financial acumen and dedication while serving as a key member
of the FalconStor finance team. Lou's leadership and ongoing contributions to
the company are appreciated by his colleagues and staff, and we all
congratulate him for his success."

"This award is an honor I share with an impressive group of Long Island
business professionals I am pleased to count as my colleagues," said
Petrucelly. "I would like to acknowledge the exceptional people who have
helped me all along the way to achieve my personal and professional goals. My
special thanks go to the entire FalconStor team, with whom I have been proud
to serve during the most rewarding years of my career."

Petrucelly, age 38, was named chief financial officer in August 2012,
following his promotion to vice president of finance and appointment to
treasurer and acting CFO in May 2012. He joined FalconStor in 2007 as the
company's director of financial reporting, and in 2008 he was elevated to the
position of director of finance, in which capacity he served until his
promotion last year. Prior to joining FalconStor, he was the corporate
controller for Granite Broadcasting Corporation and held several senior
financial management positions with PASSUR Aerospace, Inc., including chief
financial officer. He began his career with Ernst & Young, LLP. He has served
on the board of directors of the Lupus Alliance of America, Long Island/Queens
Affiliate since 2008 and is currently a member of its finance committee.
Petrucelly received his bachelor's degree in accounting from the C.W. Post
campus of Long Island University.

About FalconStor Software

FalconStor Software, Inc. (Nasdaq:FALC) is a market leader in disk-based data
protection. The company's mission is to transform traditional backup and
disaster recovery into next-generation service-oriented data protection. Built
upon an award-winning platform, FalconStor solutions deliver disk-based
backup, continuous data protection, WAN-optimized replication and disaster
recovery automation. FalconStor solutions are available through a worldwide
network of partners, including solution providers, top-tier strategic partners
and major OEMs. Thousands of customers worldwide, from small businesses to
Fortune 100 enterprises, entrust their data to FalconStor solutions.
FalconStor maintains headquarters in Melville, N.Y., and offices throughout
Europe and the Asia Pacific region. For more information, visit
www.falconstor.com or call 1-866-NOW-FALC (866-669-3252).

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Software, Inc., in the U.S. and other countries. All other company and product
names contained herein may be trademarks of their respective holders.

Links to websites or pages controlled by parties other than FalconStor are
provided for the reader's convenience and information only. FalconStor does
not incorporate into this release the information found at those links nor
does FalconStor represent or warrant that any information found at those links
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is at the reader's own risk.

CONTACT: Roman Kichorowsky
         FalconStor Software, Inc.
         Kathryn Ghita
         Metis Communications

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