FalconStor Software Founder Barry Rubenstein Honored as 2013 Long Island Technology Hall of Fame Entrepreneur Award Winner

FalconStor Software Founder Barry Rubenstein Honored as 2013 Long Island
Technology Hall of Fame Entrepreneur Award Winner

The Long Island Technology Hall of Fame Inducts a FalconStor Founder and Board
Member for Contributions to Long Island Technology Community

MELVILLE, N.Y., March 7, 2013 (GLOBE NEWSWIRE) -- FalconStor Software, Inc.
(Nasdaq:FALC), a market leader in disk-based data protection, today announced
that Barry Rubenstein, one of FalconStor's founders and current board member,
has been awarded The Long Island Technology Hall of Fame Entrepreneur Award
for his efforts in building Long Island as a technology business hub.
Additionally, Rubenstein and other Long Island science and technology business
leaders were inducted into The Long Island Technology Hall of Fame (LITHF)
during the award ceremony last night. Rubenstein has made significant
contributions to Long Island's business community, by serving as an advisor
to, investing in and founding several local technology companies.

LITHF, now in its 12th year, has a long-standing tradition of honoring the
contributions of science and technology business leaders who have had or are
having an impact on the region's economic development and commitment to the
community. The awards committee selects nominated individuals according to
intellectual acumen, lifetime achievement, overall impact on the advancement
of science and technology and national prominence.

"In awarding Long Island Technology Hall of Fame's Entrepreneur Award to Barry
Rubenstein, the organization recognizes his exceptional talent and
capabilities as an entrepreneur who will continue to benefit Long Island, now
and in the future, as we position our region as a leading technology hub,"
said Adam Silvers, partner at Ruskin Moscou Faltischek and member of the Long
Island Technology Hall of Fame Selection Committee.

A general partner at Wheatley Partners, Rubenstein's long history of investing
in and founding technology companies since 1969 signifies his commitment to
building the Long Island business and technology community. He was a founder
or founding consultant to several firms, including Applied Digital Systems,
Inc.; FatWire Software; Novell, Inc.; Cheyenne Software, Inc.; Scan Source;
and FalconStor Software. As a founder, past chairman and current board member
of FalconStor, Rubenstein made a significant contribution to establishing the
company's leadership in the data protection industry. Throughout his career,
Rubenstein has provided ongoing support for the Long Island technology
community, serving as a valued advisor and board member for a number of firms.

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).

The FalconStor Software, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=16578

   Follow us on Twitter – Watch us on YouTube – Connect with us on LinkedIn

FalconStor and FalconStor Software are registered trademarks of FalconStor
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
is complete or accurate.Use of information obtained by following these links
is at the reader's own risk.

CONTACT: For more information, contact:
         Roman Kichorowsky
         FalconStor Software, Inc.
         631-773-4303
         roman.kichorowsky@falconstor.com
        
         Kathryn Ghita
         Metis Communications
         617-236-0500
         Falconstor@metiscomm.com

FalconStor Software Logo