Hitachi IT and FalconStor Reach Initial Memorandum of Understanding for Technology Cooperation

Business Wire, Dec 9, 2004

TOKYO -- FalconStor Software, Inc. (Nasdaq: FALC), a leading developer of network storage software solutions, today announced that the company has reached an initial understanding for technology cooperation with Hitachi Information Technology Co., Ltd., with both companies signing a letter of intent to collaborate on future business opportunities.

Imai Yasuhiro, Hitachi IT system solution division GM and Board director, remarked that the latest efforts of cooperation are from FalconStor's IPStor software solution's ability to concentrate on unifying storage management of "the critical and enormous quantity of data which the customer possesses. From management of storage in its physical and logical form, IPStor maintains data availability and access, offering a solution addressing existing storage such as NAS and SAN. For the customer, it means proven data availability and the convenience of centralized storage management."

FalconStor's flagship product, IPStor(R), delivers an intelligent SAN/NAS infrastructure across heterogeneous environments by providing a comprehensive set of storage services for enterprise applications - simplifying management, ensuring data availability and recoverability, and maximizing performance. IPStor manages backup and recovery and eases the addition and management of disk and server. IPStor can be implemented as a total network storage solution, and can be leveraged by Hitachi IT, solutions integrators and end users.

"A storage software solution that utilizes a company's existing network storage architecture is an important element to maximize return on investment," said Alex Jiang, FalconStor vice president of sales and marketing for Asia Pacific. "The network and security technology offered by Hitachi IT makes for a compelling and powerful solution when combined with IPStor."

"Today's announcement of understanding with Hitachi IT expands our existing relationship with Hitachi - in the U.S., Hitachi Data Systems has been using IPStor to power its migration appliance," said Noboru Aoki, sales vice president and director of FalconStor Japan. "The opportunity to work with Hitachi IT in Japan by participating as a new partner is a natural evolution of our association. Hitachi IT is well known for its development of new technology, especially relating to networking, and this relationship will allow the chance to immediately capitalize on new market opportunities."

To read the complete release, including the Safe Harbor agreement, visit www.falconstor.com/hitachiITmou.asp.>

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