March 13, 2013 at 07:30 AM EDT
IceWEB Plans Corporate Name Change to Ximbus, Inc.

IceWEB, Inc. (OTC BB:IWEB), an award-winning Unified Data Storage appliance provider for cloud and virtual environments that features highly secure, scalable IceBOXTM Private and Hybrid Cloud solutions announced today that it is planning to change its name to better reflect its new business model, and in anticipation of its upcoming acquisition of Computers and Tele-Comm, Inc. Subject to shareholder approval, the new company name will be Ximbus, Inc., a contraction of the acronym XIM (Extended Information Management) and Nimbus, the Latin word for cloud or halo. Ximbus reflects the company’s combination of both traditional information management--storage, co-location, connection--along with its new powerful assemblage of massively scalable additional services in the cloud.

“Ximbus means all things cloud,” said Rob Howe, IceWEB CEO. “Our business has fundamentally changed, and we are now a full-fledged cloud services company, well beyond storage hardware and software. Ximbus, carries the full meaning of the new world in which our company now operates—technology and services in all forms of the cloud. As we combine the assets of Computers and Tele-Comm, Inc. with IceWEB the resulting business will be much greater than just the sum of the parts. Ximbus, Inc. will lead in the new market segment of Complete Cloud Services with our array of offerings and our highly-skilled, experienced management team. Today companies in the Fortune 2000 must procure the cloud services they need from a collection of various vendors—we will provide those services as THE go-to company with complete cloud capabilities. From connectivity, to storage appliances, to BYOD, to all forms of datacenter services, Ximbus will simplify the supplier selection process for cloud services, as well as the acquisition, management and billing processes for those services.”

IceWEB announced the signing of an LOI to acquire Computers and Tele-Comm, Inc. of Kansas City on March 4, 2013. In that announcement, http://www.iceweb.com/PressRelease/IceWEB-Signs-Letter-of-Intent-to-Acquire-Computers-and-Tele_Comm-Inc/ Howe said, “With this acquisition, we are also gaining the ability to expand the datacenter on-demand into an astounding one million or more square feet of highly secure, energy efficient, disaster-proof space in a purpose-built structure housed in an underground limestone cavern. These capabilities, security and expandability are success-critical in the cloud services arena, and now IceWEB has them.”

CTC boasts an existing client base which includes, but is not limited to: The White House Communications Agency, AEG Live, ESPN, Pepsi, The Dairy Farmers of America, Hyatt/Holiday Inn/Marriott Hotels and KCP&L.

For more information please call 800-465-4637 or visit www.IceWEB.com. To become part of the Company's e-mail list for industry updates and press releases, please send an e-mail to ir@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, as amended, or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.

Contacts:

For IceWEB, Inc.
Cynthia DeMonte, 917-273-1717
ir@iceweb.com
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