IceWEB Announces Receipt of Over $400,000 in New Orders

STERLING, Va., May 18 /PRNewswire-FirstCall/ -- IceWEB™, Inc. (OTC Bulletin Board: IWEB), www.IceWEB.com, a leading provider of Unified Data Storage and building blocks for cloud storage networks, announced today that the Company has received orders totaling more than $400,000 in one day.  The revenue was generated by multiple partners and is expected to ship in the current quarter.  

John R. Signorello, CEO of IceWEB, stated, "Our channel partners are gaining momentum which is beginning to translate into revenue.  We are going to continue to sign committed partners that are going to be productive.  Our goal is to sign quality partners that can produce revenue results. We are committed to our plan to continue to build out our intellectual property, grow our worldwide channel sales program and increase revenue to achieve an annual run rate of $25 million by the end of fiscal 2011."

Mark B. Lucky, IceWEB CFO noted, "The Company is beginning to hit on all cylinders.  We are nearing profitability in the current fiscal year and are looking forward to increasing revenue and net income. Now that we have eclipsed the $1 million mark in quarterly revenue, the next benchmark is $5 million in quarterly revenue.  We have been able to assemble a world-class team and sign up key value-added partners, while keeping our overhead low.  We realize there are going to be bumps in the road, but right now we are seeing significant positive signs."

About IceWEB, Inc.

Headquartered just outside of Washington, D.C., IceWEB manufactures and markets data storage products, network and cloud storage solutions and delivers on-line cloud computing application services. Its customer base includes U.S. government agencies, enterprise companies, and small to medium sized businesses (SMB). For more information, please visit www.IceWEB.com.

This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.

SOURCE IceWEB, Inc.