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Veramark Receives INTERNET TELEPHONY Magazine's 12th Annual Product of the Year Award

VeraSMART Telecom Expense Management Software Recognized for Outstanding Innovation

PITTSFORD, NY -- (Marketwire) -- 03/02/10 -- Veramark Technologies, Inc. (OTCBB: VERA), a leading provider of Telecom Expense Management (TEM) solutions, has received the 2009 Internet Telephony Product of the Year Award from Technology Marketing Corporation (TMC). The award recognizes Veramark's VeraSMART telecom expense management software, which helps organizations manage and reduce their telecom and IT expenses.

VeraSMART is a scalable and fully integrated Web-based application platform that provides centralized data management, workflow automation, and business intelligence for telecom expense management. Key capabilities include call accounting, invoice processing, cost allocation, inventory management, and expense and contract performance management. VeraSMART provides visibility and control for both wireless and wireline networks.

"Veramark is committed every day with a relentless drive to help our customers achieve their telecom and IT expense management goals," said Tony Mazzullo, Veramark President and CEO. "Our commitment to meeting the unique needs of our customers, along with our technology leadership and innovative approach, enables us to deliver an industry leading telecom expense management solution."

"We're pleased that TMC has honored us with this award. In 2009, we introduced powerful new TEM analytics and contract management capabilities that are fully integrated into our VeraSMART platform," said Mazzullo.

The first VeraSMART release in 2009 introduced the MySMART portal, a streamlined browser interface that allows users throughout the organization access their personal telecom information in the VeraSMART database, including telecom charges and reports. MySMART lets users at every level of the organization benefit from VeraSMART's TEM capabilities.

Mid-year, Veramark released Performance Advisor, a business intelligence engine that summarizes and analyzes the telecom data collected by VeraSMART and generates actionable information to help organizations reduce costs and improve productivity. Easy to understand dashboards and interactive analytics provide insight into telecom expenses at a glance.

In October of last year, Veramark announced VeraSMART 9.0, which introduced a range of innovative new capabilities, including integrated contract and vendor performance management (leveraging Performance Advisor), expanded support for business process automation, and numerous other improvements.

"INTERNET TELEPHONY is proud to grant Veramark a 2009 Product of the Year Award for their VeraSMART telecom expense management software. Veramark has proven its commitment to quality and excellence while addressing real needs in the marketplace," said Rich Tehrani, CEO, TMC. "We're happy to recognize and honor Veramark for their continuing development of technology that helps organizations gain visibility into their telecom environment and control it more efficiently. We look forward to more innovative solutions from them in the future."

About Veramark Technologies, Inc.
Veramark is a leading provider of innovative enterprise solutions for telecom and IT expense and performance management. Veramark solutions provide visibility into operational expenses and generate actionable business intelligence to help organizations reduce spend and optimize business processes. Veramark solutions, which include software and services for Telecom Expense Management (TEM), call accounting, and Business Process Outsourcing (BPO), enable best practices for managing complex unified communications networks on a global scale. For more information, visit www.veramark.com.

INTERNET TELEPHONY has been the IP Communications Authority since 1998™. Beginning with the first issue in February of 1998, INTERNET TELEPHONY magazine has been providing unbiased views of the complicated converged communications space. INTERNET TELEPHONY offers rich content from solutions-focused editorial content to reviews on products and services from TMC Labs. INTERNET TELEPHONY magazine reaches more than 225,000 readers, including pass-along readers. For more information, please visit www.itmag.com.

About TMC
Technology Marketing Corporation (TMC) is a global integrated media company helping our clients build communities in print, in person and online. TMC publishes Customer Interaction Solutions, INTERNET TELEPHONY, Unified Communications, and NGN magazines. TMCnet, TMC's Web site, is the leading source of news and articles for the communications and technology industries. TMCnet is read by two million unique visitors each month on average worldwide, according to Webtrends. TMCnet has ranked within the top 3,500 in Quantcast's Top U.S. sites, placing TMCnet in the nation's top .03% most visited Web sites. In addition, TMC produces INTERNET TELEPHONY Conference & EXPO (ITEXPO); 4GWE Conference and M2M Evolution (in conjunction with Crossfire Media); Digium|Asterisk World (in conjunction with Digium); and Smart Grid Summit (in conjunction with Intelligent Communication Partners).

TMC also serves technology professionals with industry-specific Web sites: IT.TMCnet.com, 4G-wirelessevolution.TMCnet.com, M2M Evolution.com, Smart-Grid.TMCnet.com, Smart Products Ecosystem, Robotics.TMCnet.com, Cable.TMCnet.com, Satellite.TMCnet.com, Green.TMCnet.com, Healthcare.TMCnet.com, and Education.TMCnet.com.

For more information about TMC, visit www.tmcnet.com.

Veramark, VeraSMART, and eCAS are registered trademarks of Veramark Technologies, Inc. MySMART and VeraSMART Performance Advisor are trademarks of Veramark Technologies, Inc. All other trademarks are the property of their respective owners. This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause actual results to differ from the anticipated results expressed in such forward-looking statements. These may include but are not necessarily limited to changes in general economic conditions in the United States and overseas, technological changes in the telecommunications or computer industries, the timely and successful launch of planned new products, the timely installation and acceptance by end-user customers, and the impact of competition or changes in the marketing strategies of major distributors.

Veramark Contact:
Denise Chapman
Director of Marketing
Email Contact

TMC Contact:
Jan Pierret
Marketing Manager
203-852-6800, ext. 228
Email Contact

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