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New Spa Locations in Dallas/Fort Worth International Airport and Dubai
International Airport

XpresSpa's Acquisition by FORM Holdings Expected to Close in the Fourth
Quarter of 2016

NEW YORK - September 12, 2016 - FORM Holdings Corp. (NASDAQ: FH), a
diversified holding company focused on acquiring and developing small to
mid-market companies with growth potential, today provided an update on its
pending acquisition of XpresSpa, the industry-leading luxury airport spa

Since announcing the acquisition on August 8, 2016, XpresSpa has strengthened
its presence in the United States and around the world by opening its fourth
spa location at the Dallas/Fort Worth International Airport (DFW) in Texas
and its first spa location at the Dubai International Airport (DXB) in the
United Arab Emirates, which is the busiest airport in the world, as measured
by international passenger traffic.

XpresSpa Highlights

* Projected 2016 revenue in excess of $40 million; total revenue for six
months ended June 30, 2016 was $20.5 million
* 2015 full year Store-Level EBITDA[1]of $7.6 million, equal to 20%
Store-Level EBITDA and $3.5 million of Store-Level EBITDA for the six
months ended June 30, 2016
* Approximately three times the number of locations as largest domestic
* Provided wellness services and products to approximately 900,000 customers
in 2015 and growing in 2016
* New CEO, Ed Jankowski, joined June 2016 with extensive experience in luxury
and airport retail to lead future growth (World Duty Free, Godiva,
Luxottica, among others)

Industry trends expected to be favorable with airport retail spending
projected to grow at 19% CAGR from $4.2 billion in 2015 to $9.9 billion in
2020 according to New Market Research&Micro Market Monitor

XpresSpa Growth Plan

* Targeting 11%+ Comparable store sales[2]growth for remainder of 2016 and
2017 up from 2.9% in the first half of 2016
* Increase profitability and EBITDA by reducing corporate overhead
* In the next 24 months XpresSpa estimates that there will be more than 25
spa locations being offered as formal RFPs by airport retail authorities
domestically and additional opportunities internationally and through
existing airport relationships
* Historically, XpresSpa wins 80% of RFPs it has submitted
* Explore franchise model in secondary and tertiary airports
* Organically grow through focused menu of spa offerings and retail products

"We're thrilled to announce that we have opened new spa locations in Dallas
and Dubai and are excited to continue to grow the XpresSpa brand and
footprint throughout the world," said Ed Jankowski, CEO of XpresSpa. We look
forward to closing this transaction and continuing to work closely with the
team at FORM Holdings moving forward."

About FORM Holdings Corp.

FORM Holdings Corp. (NASDAQ: FH) is a publicly held diversified holding
company that specializes in identifying, investing in and developing
companies with superior growth potential. FORM's current holdings include
Group Mobile, FLI Charge, Infomedia and intellectual property assets. Group
Mobile is a provider of rugged, mobile and field-use computing products,
serving customers worldwide. FLI Charge designs, develops, licenses,
manufactures and markets wireless conductive power and charging solutions.
Infomedia is a leading provider of customer relationship management and
monetization technologies to mobile carriers and device manufacturers. FORM
Holdings' intellectual property division is engaged in the development and
monetization of intellectual property. To learn more about Form Holdings

About XpresSpa

XpresSpa is the industry-leading luxury travel spa business, serving almost
one million air travelers each year at its 48 stores across 21 airports in
the United States, Amsterdam and Dubai as of August 24, 2016. XpresSpa
offers travelers premium spa services, including massages, reflexology,
stress and tension release, manicures, pedicures, facials and waxing. Its
Xpress nail, massage and hair blow-out services are designed specifically for
the busy traveling customer, with treatments completed in 30 minutes or less.
In stores and online, XpresSpa also offers exclusive luxury travel products
and accessories, including travel pillows, blankets, massagers, and personal,
hair, nail and bath and body products. XpresSpa has over 750 employees,
including talented teams of professionally licensed massage therapists,
cosmetologists and nail technicians who are committed to providing
exceptional customer experiences.

Forward-Looking Statements

This press release includes forward-looking statements, which may be
identified by words such as "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future," "continue,"
or the negative of such terms, or other comparable terminology.
Forward-looking statements are statements that are not historical facts.
Such forward-looking statements are subject to risks and uncertainties, which
could cause actual results to differ materially from the forward-looking
statements contained herein. Statements in this press release regarding the
proposed merger between FORM and XpresSpa; the expected timetable for
completing the transaction; the potential value created by the proposed
merger for FORM's stockholders and XpresSpa's equity holders; the potential
of FORM's business after completion of the merger; XpresSpa's projected
revenue, the ability to raise capital to fund operations and business plan;
the continued listing of FORM's securities on the Nasdaq Capital Market;
market acceptance of FORM products; the collective ability to protect
intellectual property rights; competition from other providers and products;
FORM's management and board of directors after completion of the Merger; and
any other statements about FORM's or XpresSpa's management teams' future
expectations, beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. There are a number of important factors that could cause actual
results or events to differ materially from those indicated by such
forward-looking statements, including, but not limited to: the risk that FORM
and XpresSpa may not be able to complete the proposed transaction; the
inability to realize the potential value created by the proposed merger for
FORM's stockholders; FORM's inability to maintain the listing of its
securities on the Nasdaq Capital Market after completion of the merger; the
potential lack of market acceptance of FORM's products; FORM's inability to
monetize and recoup FORM's investment with respect to assets and other
businesses that that were acquired or will be acquired in the future; general
economic conditions and level of information technology and consumer
electronics spending; unexpected trends in the mobile phone and telecom
computing industries; the potential loss of one or more of FORM's significant
Original Equipment Manufacturer ("OEM") suppliers, the potential lack of
market acceptance of FORM's products; market acceptance, quality, pricing,
availability and useful life of FORM's products and services, as well as the
mix of FORM's products and services sold; potential competition from other
providers and products; FORM's inability to license and monetize FORM's
patents, including the outcome of litigation; FORM's inability to develop and
introduce new products and/or develop new intellectual property; FORM's
inability to protect FORM's intellectual property rights; new legislation,
regulations or court rulings related to enforcing patents, that could harm
FORM's business and operating results; FORM's inability to retain key members
of its management team; and other risks and uncertainties and other factors
discussed from time to time in our filings with the Securities and Exchange
Commission ("SEC"), including FORM's Annual Report on Form 10-K for the year
ended December 31, 2015 filed with the SEC on March 10, 2016. Investors and
stockholders are also urged to read the risk factors set forth in the proxy
statement/prospectus carefully when they are available. FORM expressly
disclaims any obligation to publicly update any forward-looking statements
contained herein, whether as a result of new information, future events or
otherwise, except as required by law.

Important Additional Information Filed with the SEC

This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities of FORM, or XpresSpa or the solicitation of
any vote or approval. In connection with the proposed transaction, FORM filed
with the SEC a Registration Statement on Form S-4 containing a proxy
statement/prospectus. The proxy statement/prospectus contains important
information about FORM, XpresSpa, the transaction and related matters. FORM
will mail or otherwise deliver the proxy statement/prospectus to its
stockholders when it will be declared effective by the SEC. Investors and
security holders of FORM and XpresSpa are urged to read carefully the proxy
statement/prospectus relating to the proposed merger (including any
amendments or supplements thereto) in its entirety because it contains
important information about the proposed transaction.

Investors and security holders of FORM will be able to obtain free copies of
the proxy statement/prospectus for the proposed merger and other documents
filed with the SEC by FORM through the website maintained by the SEC at

FORM and XpresSpa, and their respective directors and certain of their
executive officers, may be deemed to be participants in the solicitation of
proxies in respect of the transactions contemplated by the merger agreement
between FORM and XpresSpa. Information regarding FORM's directors and
executive officers is contained in FORM's Annual Report on Form 10-K for the
fiscal year ended December 31, 2015, which was filed with the SEC on March
10, 2016. Information regarding XpresSpa's directors and officers and a more
complete description of the interests of XpresSpa's directors and officers in
the proposed transaction is available in the proxy statement/prospectus that
was filed by FORM with the SEC in connection with the proposed transaction.



---------------------------------------[1]Store-level EBITDA is a non-GAAP financial measure and is defined as
earnings before any corporate general and administrative expenses,
depreciation and amortization, interest and tax. Store EBITDA is a measure
that helps XpresSpa assess earnings after the direct costs of delivering the
services and selling products in the spas were incurred.
[2]Comparable store sales are defined as current peri...

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