FalconStor Software, Inc. (NASDAQ: FALC), provider of TOTALLY Open™ data protection solutions, today announced that The Long Island Technology Hall of Fame selected FalconStor CEO ReiJane Huai to receive its Entrepreneur Award for his accomplishments and contribution to the Long Island business community. Huai accepted the award at a ceremony yesterday, during which he was also inducted into The Long Island Technology Hall of Fame (LITHF) along with other Long Island business leaders in science and technology.

The LITHF honors technology innovators with links to Long Island and raises funds for scholarships, outreach and research initiatives that will ensure that the region’s economic and intellectual leadership continues. The awards selection committee determines the most qualified inductees according to intellectual acumen, lifetime achievement, overall impact on the advancement of science and technology, national prominence and contributions to Long Island's economic development.

Huai has a long history in the technology community of Long Island, first as a master’s degree recipient at SUNY Stony Brook 25 years ago. He later served as CEO of Cheyenne Software, which was acquired by Computer Associates, one of Long Island’s largest technology companies. Now, as CEO of FalconStor, Huai is focused not only on the continued growth of the company, but also on the development of young technology professionals and entrepreneurs in the region.

“The Long Island Technology Hall of Fame’s support for innovation in science and technology is important not only to local businesses, but also to IT and engineering students and the community at large, all of whom are beneficiaries of this organization’s philanthropic goals,” said Huai. “It is a great honor for me to receive the Entrepreneur Award, which also recognizes my partners and colleagues for their hard work, technical excellence and business acumen. By continuing to grow FalconStor into the next decade, we have an ongoing opportunity to further contribute to the economic strengths of Long Island.”

About FalconStor Software

FalconStor Software, Inc. (NASDAQ: FALC) is the market leader in disk-based data protection. FalconStor delivers proven, comprehensive data protection solutions that facilitate the continuous availability of business-critical data with speed, integrity, and simplicity. The Company's TOTALLY Open™ technology solutions, built upon the award-winning IPStor ® platform, include the industry leading Virtual Tape Library (VTL) with deduplication, Continuous Data Protector (CDP), File-interface Deduplication System (FDS), and Network Storage Server (NSS), each enabled with WAN-optimized replication for disaster recovery and remote office protection. FalconStor products are available from major OEMs and solution providers including 3Com, Acer, Data Direct Networks, Dynamic Solutions International, EMC, IBM, Oracle, Pillar Data Systems, SGI and Spectra Logic and are deployed by thousands of customers worldwide, from small businesses to Fortune 1000 enterprises.

FalconStor is headquartered in Melville, N.Y., with offices throughout Europe and the Asia Pacific. FalconStor is an active member of the Storage Networking Industry Association (SNIA). For more information, visit www.falconstor.com or call 1-866-NOW-FALC (866-669-3252).

FalconStor, FalconStor Software and IPStor are registered trademarks, and TOTALLY Open is a trademark 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.

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.

Copyright Business Wire 2010