Financial Results Released and Conference Call Scheduled

Pittsford, NY, May 7, 2009 – Veramark Technologies, Inc. (VERA.OB) a leading provider of Telecom Expense Management (TEM) solutions, today announced financial results for its first quarter of 2009.

Veramark reported sales of $2,523,000 for the quarter ended March 31, 2009, a decrease of 6 percent from sales of $2,672,000 for the first quarter of 2008. Veramark's net loss of $180,000, or $0.02 per share, compared with a net loss of $194,000 for the same quarter of 2008 (also $0.02 per share).

"Veramark had a good quarter despite the depth of the global recession. New orders were up 38 percent over the same period last year," stated Tony Mazzullo, Veramark President and Chief Executive Officer. "Our strong first quarter orders are the result of a combination of successful efforts to increase our Telecom Expense Management and Business Process Outsourcing sales. Revenues from those contracts will be recognized over the term of the contracts, providing the Company with recurring longterm revenues," said Mazzullo. "Going forward, our priority remains investing for the long term, to drive growth in our core business," said Mazzullo.

Veramark will conduct a teleconference, hosted by Mr. Mazzullo, to discuss the 2009 first quarter results on Friday, May 8, 2009, 11:00 AM Eastern Time. To access the conference call dial 800-736-4610.

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