FREMONT, CA — January 28, 2008 — Panasas Inc., the global leader in parallel storage solutions, today announced that it has appointed four new executives to its senior management team. This will enable the company to build upon its leadership position in the parallel storage market and support Panasas as it prepares for accelerated growth. The company has strengthened its management team with the addition of the following executives: Senior Vice President, Technical Operations, Bill Wagstaff; Vice President, North American Sales, Steve McDermott; Chief Financial Officer, Stephanie Vinella; and Vice President, Human Resources, Denise Herrick.

"As the leader in the parallel storage market, we have excelled at providing our customers in energy, manufacturing and government markets with a competitive advantage by giving them accelerated time to results for their business-critical, data intensive applications," said Victor Perez, CEO of Panasas. "Maintaining this prominent position in the industry requires that we continue to augment our management team with proven executives, possessing both the desire to ensure Panasas solutions are the standard in the parallel storage market and the experience to meet our worldwide business objectives."

Senior Vice President, Technical Operations, Bill Wagstaff brings more than 28 years of experience as a successful senior executive driving product development, customer support, and business strategy to his role at Panasas. He will lead Panasas’ Quality, Global Services and Engineering organizations. Prior to joining Panasas, Wagstaff served Nextance Corporation as its COO helping drive growth and a successful merger with Trilogy. Before his tenure at Nextance, Wagstaff held senior engineering leadership positions at Alphablox, an innovative business intelligence software company acquired by IBM, Red Brick Systems and NCR/Teradata contributing to each organization’s record growth.

The new Vice President, North America Sales, Steve McDermott, brings an accomplished 20-year background in executive sales including direct sales, OEM, and channels management. McDermott has had considerable success in driving large and complex sales, developing channel strategy and managing critical partner relationships. Before joining the Panasas executive team McDermott held senior sales management positions at Network Appliance, Topio, Invio, Marimba, Legato Systems and Comdisco.

With more than 25 years experience in financial management and operations, Panasas’ new Chief Financial Officer, Stephanie Vinella has achieved impressive successes driving rapid growth and implementing solid financial infrastructures in emerging companies. Prior to Panasas, she held CFO positions at Nextance, Inc., Alphablox and Edify where she led the company during its IPO process.

Denise Herrick, recently promoted to Vice President, Human Resources, has more than 15 years of experience in human resources management, training and organizational development in both publicly and privately held companies. Herrick’s expertise includes an emphasis on driving large scale organizational change. Prior to joining Panasas in 2000, Herrick held positions in human resources management at LSI Logic, Symbios and AT&T Global Information Solution.

About Panasas

Panasas, Inc., the leading provider of high-performance storage for the world’s most performance-intensive applications, helps commercial, government and academic organizations accelerate their time to results, leading to real-world breakthroughs that improve people’s lives. Panasas high-performance storage systems enable customers to maximize the benefits of high-performance computers and clusters by eliminating the storage bottleneck created with legacy network storage technologies. Panasas ActiveStor Parallel Storage Clusters, in conjunction with the PanFS™ parallel file system, offer the most comprehensive portfolio of high-performance storage solutions for compute-intensive environments. Panasas is headquartered in Fremont, California. For more information, please visit www.panasas.com.

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