FalconStor Appoints Louis J. Petrucelly as Chief Financial Officer

FalconStor Software, Inc.

announced that the Company appointed Louis J. Petrucelly, age 37, as chief financial officer, vice president and treasurer. Petrucelly had been acting chief financial officer, vice president of finance and treasurer of the Company since May 25, 2012. Petrucelly joined FalconStor in March 2007 as the Company's director of financial reporting. In March 2008, he was promoted to the position of director of finance, in which he served in this capacity until May of this year. Prior to joining FalconStor, Petrucelly was corporate controller for Granite Broadcasting Corporation. He also worked for PASSUR Aerospace and Ernst & Young, LLP. Petrucelly received his bachelor's degree in accounting from the C.W. Post campus of Long Island University.