Kevin Holt Named Chief Executive Officer and Appointed Chairman of the Board of Directors of SoftNet Technology Corp.


CRANFORD, N.J., Oct. 2, 2006 (PRIMEZONE) -- SoftNet Technology Corp. (OTCBB:STTC) (German WKN#:A0B7RZ) announces that, effective Friday, September 29, 2006, Kevin Holt replaced James M. Farinella as CEO and Chairman of the Board of Directors. The Board now has four members -- Chairman Kevin Holt along with Kevin Cotter, Darren Tietsworth, and George Pappas.

The Agreement and Plan of Reorganization between SoftNet and Inspara, Inc., dated January 11, 2006, specified that Mr. Holt would become a director and the Chief Executive Officer of SoftNet within six months of the closing of the Inspara merger into SoftNet. This transition was delayed from its expected date of June 30, 2006 due to the resignation of David Facciani from the Board of Directors on June 30, 2006. On June 30, 2006, James Farinella was asked to stay on as Chairman and CEO until the end of the third quarter so that SoftNet could bring in and expand its board of directors (see press release of Sept. 18, 2006).

This now completes the transition of SoftNet to Kevin Holt and team. This team has been involved in several successful business ventures including but not limited to Predictive systems and US Web. SoftNet hopes to bring in additional talent through acquisitions and the recruitment of high-level personnel in SoftNet's focused business model.

"I feel that all of the shareholders, including myself, are very fortunate that we were able to find a truly talented team led by Kevin Holt to position SoftNet for the future," stated James M. Farinella. "I will continue to assist SoftNet in any way that I can to help them to continue to build a fundamentally sound Company."

Please visit our website at www.softnettechnology.com for more information or contact the company directly at 866-898-4842 (local 908-204-9911), Kevin Holt, CEO.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the company may differ materially from these statements due to a number of factors. The company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements.



            

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