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FalconStor Software Announces Executive Management Change

FalconStor Software Announces Executive Management Change

MELVILLE, N.Y., July 1, 2013 (GLOBE NEWSWIRE) -- FalconStor Software, Inc.
(Nasdaq:FALC), a market leader in disk-based data protection, today announced
that effective June 28, 2013, Jim McNiel voluntarily resigned his positions as
President and Chief Executive Officer of FalconStor to pursue other
opportunities. Mr. McNiel also voluntarily resigned from FalconStor's Board of
Directors.

The Company also announced that Gary Quinn has been named interim Chief
Executive Officer. Mr. Quinn has been with FalconStor since April 2012 and
most recently served as an Executive Vice President and as the Company's Chief
Operating Officer since April 2013. Prior to Mr. Quinn's promotion in April
2013, he served as the company's Vice President of North America Sales and
Marketing.

"We want to thank Jim for his three plus years of service and for his
contributions to the Company. We wish him all the best for his continued
success in his career," said Eli Oxenhorn, Chairman of the Board of
FalconStor. "We are fortunate to have an executive of Gary Quinn's caliber to
serve as interim Chief Executive Officer."

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 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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This press release includes forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from the
forward-looking statements. These risks and uncertainties include: delays in
product development; market acceptance of FalconStor's products and services;
technological change in the data protection industry; competition in the data
protection market; results and costs associated with governmental
investigations; intellectual property issues; and other risk factors discussed
in FalconStor's reports on Forms 10-K, 10-Q and other reports filed with the
Securities and Exchange Commission.

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:
         FalconStor Software, Inc.
         Joanne Ferrara, Investor Relations
         631-773-5813
         joanne.ferrara@falconstor.com

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