Pannaway Technologies Strengthens Its Board of Directors With Appointment of Ronald Kendall and Michael Eblin

PORTSMOUTH, NH--(Marketwire - October 23, 2007) - Pannaway Technologies, Inc., designers and developers of converged IP broadband platforms for telecommunications companies, today announced that Ronald Kandell and Michael Eblin will contribute to the company's expansion and delivery of flexible IP access and transport solutions to telcos by serving on its Board of Directors.

"We're pleased to add such talented and experienced individuals to our board of directors," said Bob Levine, Pannaway's principal investor. "Unique to these board seats, Ron Kandell and Mike Eblin will actively participate in the future growth of Pannaway."

Ron Kandell recently retired from Siemens Communications with more than 36 years of telecommunications experience. While at Siemens, he served as vice president of Product Planning, and later as vice president of Sales to the Independent Operating Companies (IOCs) division. Kandell played a key role in developing business and sales strategies, and implementing an organization for successfully positioning Siemens as a leader in the burgeoning IOC market. Prior to Siemens, Kandell served Stromberg-Carlson in a variety of positions, including director of Systems Engineering, director of Product Planning, and vice president of Marketing. Kandell was general chairman for the GLOBCOM '92 event, and has been active in OPASTCO and USTA.

"I'm impressed with Pannaway's ongoing commitment to the IOC market which was underscored by its recent introduction of the carrier-grade MAGNM-20 chassis and its acquisition of Telstrat's Access Business Unit," Kandell said. "The unique flexibility of their integrated copper and fiber solutions allow telcos to easily migrate at their own pace to an architecture with IP at the core."

Michael Eblin brings to Pannaway more than 20 years of operations experience in the high-tech industry at companies such as Hughes Aircraft Co., United Technologies and Sony. Eblin has a lengthy track record of business success through customer relationships and business development, as well as strong operations, manufacturing, and supply chain execution in major industry segments, including Defense, Medical, Automotive, Consumer, and Industrial. Most recently, he served as a senior operations advisor for Cerberus Capital Management with a primary focus on the integration, and turn-around of international manufacturing, engineering and service based Industries.

"I was drawn to Pannaway by the breadth of its product solution and its impressive operational model," explained Eblin. "As a Board member, I look forward to leveraging my experience to assist Pannaway's executive management team in continually streamlining operations while delivering the highest quality broadband products and services available."

About Pannaway Technologies

Pannaway delivers customer-proven broadband access and transport solutions that enable telecommunications service providers to offer new advanced services to their subscribers. Based on industry-standard IP (Internet Protocol) technologies, Pannaway's Service Convergence Network (SCN™) architecture allows service providers to increase revenue and compete more effectively through the delivery of converged services. The privately held company, headquartered in Portsmouth, New Hampshire has been building pioneering IP broadband solutions since 2002.

For more information, please visit www.pannaway.com

Contact Information: Contacts: Kevin Brown Pannaway Technologies 603-766-5142 kbrown@pannaway.com Dale Allaire BridgeView Marketing 603-766-3681 dale@bridgeviewmarketing.com