Pannaway Networks Completes Move to New Corporate Headquarters

New Facility Accommodates Future Growth

Portsmouth, NH - June 19, 2008 - *Pannaway Networks, designers and developers of next-generation Ethernet/IP Multi-Service Access Platforms for telecommunications service providers, today announced the grand opening of its new corporate headquarters in Portsmouth, New Hampshire. This expansion comes on the heels of a busy twelve-month period which included the acquisition of Telstrat's Access Business Division, the launch of new access platforms and a 300% increase in telecom service provider customers year-over-year.

"Our new facility allows us to accommodate our current and new employees, consolidate and further enhance our laboratories, expand our training facilities and provide space for further growth," said Mark Carpenter, president of Pannaway. "Our thanks to the IOC community whose continued support is fueling our growth plan."

Pannaway's new facility is conveniently located across the street from their former location. The new address is 230 Commerce Way Portsmouth, NH 03801.

About Pannaway Networks
*Pannaway Technologies, Inc., is now doing business as Pannaway Networks.

Pannaway Networks delivers customer-proven broadband access solutions that enable its 300-plus telecommunications service provider customers to seamlessly evolve their legacy networks to Ethernet/IP—at-will. Based on industry-standard IP (Internet Protocol) and Ethernet technologies, Pannaway's comprehensive Service Convergence Network (SCN™) architecture is proven to help service providers compete more effectively and ensure a next-generation network that will support emerging, bandwidth intensive services and applications for decades to come. For more information, please visit www.pannaway.com.