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Veramark Ranks 8th of the 2012 "Best Companies to Work for in New York State"

Best Score Yet for Veramark in 3rd Consecutive Year as a Winning Small/Medium Employer

ROCHESTER, NY -- (Marketwire) -- 05/31/12 -- Veramark Technologies, Inc. (OTCQB: VERA) (PINKSHEETS: VERA), a leading provider of Telecom Expense Management (TEM) solutions, has been ranked 8th of 26 small/medium employers recognized by the New York State Society for Human Resource Management (NYS-SHRM) as one of the 2012 "Best Companies to Work for in New York State." The award is based on employee satisfaction surveys, with winners receiving high marks in areas such as work environment, work/life balance, job satisfaction, opportunities for advancement, and overall workplace excellence.

"We're delighted to see that Veramark is ranked 8th in the small/medium category," said Tony Mazzullo, Veramark's CEO and President. "This validates our efforts at continuous improvement and reflects our spirit here at Veramark: we're never satisfied with 'good enough' -- we strive to be the best."

Selection of the 2012 Best Companies in NY was based on an assessment of the employee policies and procedures, as well as results of an internal employee survey conducted by the Best Companies Group. The Best Companies list is comprised of two groups: 26 small/medium-sized companies and 24 large-sized companies. The small to midsize category includes companies employing up to 250; the large category is for more than 250 employees. In total, 50 companies were identified for demonstrating that happy employees make for good business and drive the Empire State's economy. For more information on the Best Companies to Work for in New York awards program, visit www.bestcompaniesNY.com.

"Being a great place to work is required to be a great company," said Mazzullo. "Our employees love it here, and that helps us deliver exceptional service to our customers."

About Veramark Technologies, Inc.
Founded in 1983, Veramark is a publicly traded, independent global telecommunications management company (OTCQB: VERA). Launched as a call accounting software company, Veramark has innovated forward in an era of growing reliance on costly communication devices, services, and networks. Veramark has established a legacy of guarding resources for performance-driven companies that demand value from their telecom investments. Veramark is a recognized leader in the telecom management industry; the Veramark Value Acceleration Process™ and VeraSMART® software are used daily by over 3,300 customers around the world. For more information, visit www.veramark.com.

Veramark and VeraSMART are registered trademarks of Veramark Technologies, Inc. MySMART and Veramark Value Acceleration Process 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.

Contact:
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