Promark Technology, Inc. Announces Definitive Merger Agreement With IceWEB, Inc.

Promark Technology, Inc., a Premier U.S. Value Added Distributor of Data Storage Products and Solutions and IceWEB, Inc.™ (OTC Bulletin Board:IWEB.ob), www.IceWEB.com, a leading provider of Unified Data Storage and building blocks for cloud storage networks, announced Monday, March 7th that they have reached a definitive merger agreement.

Founded in 1985, Promark Technology is a 26 year old private company with an extensive network of over 1,200 value added resellers throughout the United States. Promark is currently operating at a $100 million annual revenue run rate, has no debt and a line of credit with BB&T Bank. Promark has an outstanding history of on-boarding and incubating emerging storage brands. Promark has acted as the channel distributor for some of the leading storage companies including EqualLogic (acquired by Dell), LeftHand Networks (acquired by HP), Data Domain (acquired by EMC) and Compellent (acquired by Dell).

In August 2005, Promark completed a management buyout from its investors and became an employee owned company with revenues of $25.7 million. Since the buyout, the management team has grown the company’s sales to over $100 million. In June 2010, Promark acquired Niksar Data Management, LLC, a professional services organization with specific expertise in planning, designing, training and installing enterprise storage systems. Niksar Data Management, now Promark Professional Services, offers its services exclusively through Promark’s Value Added Reseller Channel.

Mr. Dale Foster, Promark’s President stated; "We are very excited and see great potential in this merger. While Promark has played an integral role in incubating and building channels for many emerging storage companies, we have yet to fully participate in the success enjoyed by those partners. The Promark Management Team brings over 60 years of experience in the data storage market and the channel. We look forward to the challenges and the growth opportunities presented in this merger. We will continue to vigorously grow our distribution business with our manufacturers while at the same time grow and support the IceWEB product line.”

Mr. John R. Signorello, Chairman & CEO of IceWEB, stated, "This is an extraordinary vertical integration merger that will benefit all parties. Customers will have instant access to IceWEB’s outstanding Unified Storage Products along with Promark’s professional engineering services. IceWEB’s shareholders will own shares of a company whose revenues, profits and market share are projected to show immediate and dramatic improvement. We have known the Promark team for a considerable time and have the greatest respect for their professionalism, expertise and understanding of the storage space and our shared aspirations. Both firms have looked at the storage space and recognized that to succeed a company must have several things, some of which IceWEB had and some of which Promark Technology had. The combined company will be a data storage powerhouse with over 1200 plus channel partners and a leading 128 bit file system platform. When you blend that with a professional engineering services arm and the ability to ship and deliver expeditiously, the sky is the limit for the combined company. As one entity, we will have all the missing piece(s) of the puzzle necessary for sustained growth and success in the data storage space. We are tremendously excited by this joining of forces and look forward to the ability to scale up our production to meet the demand that will result from Promark’s sales efforts.”

About Promark Technology

Promark Technology is one of the premier value added distributors (VAD) in the United States. Promark’s core technology focus is distributing data storage and electronic document imaging products and solutions through a two-tier distribution channel selling to value added resellers (VARs) and system integrators. Promark leverages its direct relationships with world class technology partners including: Compellent, QLogic, Exagrid, Scale Computing, Nexsan, RelData, Overland Storage and many more to provide solutions that meet the most demanding needs of our customers. Promark also holds a robust GSA Schedule 70 contract along with multiple state contracts that assist its VAR customer base with vehicles to sell to federal, state, and local government agencies. For more information, please visit http://www.promarktech.com.

About IceWEB, Inc.

Headquartered just outside of Washington, D.C., IceWEB manufactures and markets data storage products. For more information, please visit www.IceWEB.com.

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