DULLES, Va., Sept. 2 /PRNewswire/ -- IceWEB (OTC:IWEB) (BULLETIN BOARD: IWEB) (http://www.iceweb.com/) announced today that Murphy Analytics, an equity research group, has initiated coverage on IceWEB, Inc. In the report entitled "IWEB Targeting Significant Opportunities in Cloud Computing and Data Storage," Murphy discusses, "With the divestiture of the IceWEB Solutions Group subsidiary, a reseller of low-margin software and hardware products, IWEB is positioned to focus on data storage solutions and hosted software applications. IWEB is reporting: -- Significantly higher margins at over 50% versus 12.2% for the prior year's quarter. -- The acquisition of over 30 new clients. -- A decline in selling / general / administrative expense from $2.4 million to $1 million. -- A decline of approx. $6 million in both current liabilities and total debt from 9/30/08. -- An operating cash loss of $233,000 (including a one time legal charge of $123,000)." "As estimated by Salesforce.com, cloud computing represents a $16 billion market opportunity while the overall infrastructure software market is $144 billion," continued Murphy. "With an ever increasing demand for robust applications, mobility, integration, speed, support and up-to-date technology, it is reasonable to expect cloud computing solutions to continue to take some market share from infrastructure software. At a 40% return year to date, the iShares S&P North American Technology Sector Index(TM) Fund seems to point to better times ahead for information technology companies in general, and with a newly focused and capitalized business model, IWEB presents a potentially attractive opportunity for investors interested in the prospects for data storage and cloud computing." The full report is available for review at: http://www.murphyanalytics.com/uploads/IWEB_Profile About Murphy Analytics Murphy Analytics provides company-sponsored research coverage on small-cap stocks in a broad range of sectors. Murphy Analytics was paid $1,000 by DC Consulting, LLC in advance of the creation of this report. For additional information, please visit http://www.murphyanalytics.com/. The views expressed in the report on Ideal Financial Solutions accurately reflect the analyst's personal views. Neither the analyst's compensation nor the compensation received by Murphy Analytics is in any way related to the specific rating or the views contained in this research report. About IceWEB, Inc. Headquartered just outside of Washington, D.C., IceWEB manufactures and markets storage solutions and 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 http://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. Contact: IceWEB, Inc. Investor Relations, 571-287-2400 Gary Nash CEOcast, Inc. for IceWEB at 212-732-4300 DATASOURCE: IceWEB, Inc. CONTACT: IceWEB, Inc., Investor Relations, +1-571-287-2400, ; or Gary Nash, CEOcast, Inc., for IceWEB, +1-212-732-4300 Web Site: http://www.iceweb.com/

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