IceWEB Executives Purchase Additional Common Stock

This is a Press Release edited by StorageNewsletter.com on Wed, July 4th, 2012

CEO Hal Compton and CFO Mark Lucky buy 160,000 shares.

IceWEB, Inc. announced that senior executives have purchased additional shares of the company's stock.

Taking advantage of IceWEB's recent low stock price, IceWEB executives Hal Compton, Sr, interim CEO, and Mark Lucky, CFO and interim COO, purchased 160,000 shares of IceWEB common stock.

As an added sign of confidence in IceWEB's ability to drive shareholder returns, Compton has agreed to serve as acting CEO without any cash compensation since assuming his position in the wake of the tragic death of IceWEB's former CEO John Signorello this past May, 2012.

"Since joining IceWEB's board in 2005, I've seen a company with tremendous potential make continuous progress in the pervasive and rapidly growing market for data storage solutions, especially in the past six months," said Hal Compton, interim CEO at IceWEB. "Since increasing my involvement with IceWEB as CEO last month, my perspective of the company's current strength and potential has only grown stronger. IceWEB's senior management team is truly top-notch, supporting a robust product line in a market which traditional vendors have yet to address with their solutions. My recent accumulation of additional shares at relatively attractive pricing underscores my personal belief in IceWEB."

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