TAMPA, Fla., Jan. 27, 2005 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP), an operator of retail wireless locations that market and sell next-generation wireless products and services, and operates Wi-Fi Hot Spots, today announced plans to begin marketing and selling a prepaid MasterCard product at all of its locations.
FTS CEO Scott Gallagher commented, "Taping the $240 billion global prepaid payment applications market makes good sense for FTS. Offering our customers a prepaid MasterCard product should help build our brand loyalty as these new customers will come back to an FTS Wireless retail location to re-load their prepaid MasterCard." Gallagher went on to say, "A recent survey found that 32% of Americans have used a prepaid card for a purchase or transaction. We believe the new prepaid credit card will be very well received by the youth market, one of our key target demographics."
A recent report by the TowerGroup projected the Global prepaid card applications market is expected to double by 2007, reaching $500 billion USD.
About FTS Wireless, Inc.
FTS Wireless Inc., is an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's. FTS Wireless currently operates a chain of retail wireless locations in the Florida Gulf Coast region and the Philadelphia suburban market. The company markets and sells products worldwide through its e-commerce site's www.CellularDeals.com and www.SatPhoneCenter.com . For additional information about FTS Group, Inc. or its subsidiary, please visit our website at www.FTSWireless.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors; sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in expectations, except as may be required by law.