TAMPA, FL--(MARKET WIRE)--Jun 17, 2008 -- FTS Group, Inc. (OTC BB:FLIPE.OB - News), today released an update to its stockholders regarding the recent asset purchase by its wholly owned subsidiary OTG Technologies Group, Inc.

FTS Chairman and CEO Scott Gallagher commented, "While this transaction has initially been more difficult than we anticipated, the resolve of the employees involved, as well as the strength of the underlying business model have proved to be well worth our efforts. We're currently working to stabilize the funding side of the business and expect to have that piece of the transaction resolved soon. With the right funding in place I believe OTG will become the lead growth engine within FTS for years to come."

OTG Technologies Group CEO David Rasmussen commented, "Even though the initial transaction has been slowed and more difficult than we anticipated, the staff of OTG are primed to move the company in the direction that it is capable of and help realize the returns that we have anticipated seeing as a result of the operations of the company. We have a fantastic staff that has not only market knowledge, but also the technical competence and know how needed in today's marketplace to ensure our clients receive the best service and support available. After spending time with the staff and understanding their capabilities, I can say that this company is more than capable of realizing top line double digit growth in the short term, and also capable of becoming one of the elite VARs throughout North America."