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FalconStor Appoints Louis J. Petrucelly As Chief Financial Officer

FalconStor Software, Inc. (NASDAQ: FALC), a leader in disk-based data protection solutions, today announced that the Company appointed Louis J. Petrucelly, age 37, as chief financial officer, vice president and treasurer. Petrucelly had been acting chief financial officer, vice president of finance and treasurer of the Company since May 25, 2012.

Petrucelly joined FalconStor in March 2007 as the Company’s director of financial reporting. In March 2008, he was promoted to the position of director of finance, in which he served in this capacity until May of this year. Prior to joining FalconStor, Petrucelly was corporate controller for Granite Broadcasting Corporation. He also worked for PASSUR Aerospace and Ernst & Young, LLP. Petrucelly received his bachelor’s degree in accounting from the C.W. Post campus of Long Island University.

“We are happy to promote Louis Petrucelly to the post of CFO at FalconStor,” said Jim McNiel, president and CEO of FalconStor. “Over the past five years Lou has demonstrated his financial acumen and dedication while serving as a key member of the FalconStor finance team. We look forward to Lou’s leadership and ongoing contribution to the Company, and we congratulate him on his new role.”

About FalconStor

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 (DR) 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 DR 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).

FalconStor and FalconStor Software are registered trademarks of FalconStor Software, Inc. in the US and other countries. All other company and product names contained herein may be trademarks of their respective holders.

Copyright Business Wire 2010

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