Spelman Research Initiates Coverage of Farmstead Telephone Group

Spelman Research Initiates Coverage of Farmstead Telephone Group



EAST HARTFORD, Conn., July 6  /PRNewswire-FirstCall/ -- Farmstead Telephone
Group, Inc. (AMEX:FTG) today announced that New York-based Spelman Research, an
independent investment research firm, began its initial coverage of the
Company.

Spelman issued a speculative buy rating with a target price of $8.25. Their
report, which is available for viewing at http://www.spelmanresearch.com/ and
on Farmstead's website at http://www.farmstead.com/, cites "We believe that the
undergoing transformation of the Company from a legacy telecom equipment
distributor and reseller into a leading hosted VoIP services provider makes the
Company a prime candidate for any investor looking for a superior gain in the
telecom industry."

Jean-Marc Stiegemeier, Farmstead's Chairman and CEO, said, "We are pleased that
such a respected independent research firm has assessed the upside potential of
our strategy and efforts to position ourselves for future growth in our
industry."

About Farmstead

Farmstead Telephone Group, Inc. is an Avaya Inc. Gold Business Partner,
selling, installing and maintaining both new and refurbished Avaya business
communications products nationwide.  Through its newly-formed subsidiary "One
IP Voice," Farmstead will soon offer carrier-based hosted IP telephony services
along with network services, targeting small and medium sized businesses. 
Further information about Farmstead Telephone may be found at
http://www.farmstead.com/.

We are interested in your feedback and comments.  To respond to questions from
our management team, click here:
http://www.b2i.us/sendFeedBack.asp?B=1042&RL=7853&S=12204

To add yourself to our email distribution list, click here:
http://www.b2i.us/frame.asp?BzID=1042&to=ea&Nav=1&S=0&L=1

This release contains forward-looking statements that involve risks and
uncertainties.  In addition to historical information, investors should
consider carefully the risks associated with an investment in the Company's
securities as previously outlined by the Company in its prior filings with the
Securities and Exchange Commission.

  CONTACT:
   Mel Lipes
   Farmstead Telephone Group, Inc.
   Voice:  860-610-6005
   Fax:    [phone]


DATASOURCE: Farmstead Telephone Group, Inc.



CONTACT:  Mel Lipes of Farmstead Telephone Group, Inc., [phone]



Web site:  http://www.spelmanresearch.com/

http://www.farmstead.com/

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