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FalconStor Software, Inc. (FALC) Announces CFO Lou Petrucelly As Recipient Of Long Island Business News 40 Under 40 Award

|Includes: FalconStor Software, Inc. (FALC)

FalconStor Software, a market leader in disk-based data protection, recently announced that Louis J. Petrucelly has been selected as a recipient of the Long Island Business News 40 Under 40 Award for 2013. Petrucelly currently serves as FalconStor's Chief Financial Officer, Vice President, and Treasurer. The award ceremony was held at a gala event on January 24th.

Marking the 15th anniversary of the annual 40 Under 40 Award ceremony, this program serves as a salute to 40 men and women who have achieved success in business before the age of 40. Having a proven track record of career success, recipients of the award are involved in mentioning 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," commented 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," stated 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."

Following his promotion to Vice President of Finance and appointment to treasurer and acting CFO in May 2012, Petrucelly, age 38, was named Chief Financial Officer in August 2012. Petrucelly initially joined FalconStor in 2007 as the company's director of financial reporting. By 2008, Petrucelly had been promoted to Director of Finance, serving in this role until his promotion this year. Prior to joining FalconStor, Petrucelly worked for Granite Broadcasting Corporation as the corporate controller. He also held several senior management positions with PASSUR Aerospace, Inc., including Chief Financial Officer. Petrucelly began his career with Ernst & Young, LLP, and has served on the board of directors of the Lupus Alliance of America, Long Island/Queens Affiliate since 2008, and currently acts as a member of its finance committee. Petrucelly received his bachelor's degree in accounting from the C.W. Post campus of Long Island University.

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