December 01, 2008 08:30 ET

3PAR to List Shares on the New York Stock Exchange

FREMONT, CA--(Marketwire - December 1, 2008) - 3PAR® (NYSE Arca: PAR), the leading global provider of utility storage, announced today that it has filed an application to list its common stock on the New York Stock Exchange (NYSE) "Big Board." Upon approval of its application, 3PAR expects that its shares of common stock will begin trading on the NYSE on December 11, 2008, under the symbol "PAR." Until that time, 3PAR will continue to trade on the NYSE Arca under the symbol "PAR."

"We believe that listing on the NYSE will boost 3PAR's visibility and profile among investors and decrease stock price volatility, ultimately increasing shareholder value," said David Scott, President and CEO of 3PAR. "This move to the 'Big Board,' where many of our customers and peers are listed, represents another significant milestone for 3PAR and we are excited to embark on this new journey with the NYSE."

3PAR announced its initial public offering on November 15, 2007 and began trading on the NYSE Arca the following day. 3PAR was recently named as one of the top 20 fastest 5-year growth companies in Silicon Valley in the category of Software and Information Technology by Deloitte's 2008 Technology Fast 50 Award program.

About 3PAR

3PAR® (NYSE: PAR) is the leading global provider of utility storage, a category of highly virtualized, tightly clustered, and dynamically tiered storage arrays built for utility computing. Organizations use utility computing to build cost-effective virtualized IT infrastructures for flexible workload consolidation. 3PAR Utility Storage gives customers an alternative to traditional arrays by delivering resilient infrastructure with increased agility at a lower total cost to meet their rapidly changing business needs. As a pioneer of thin provisioning -- a green technology developed to address storage underutilization and inefficiencies -- 3PAR offers products designed to minimize power consumption and promote environmental responsibility. With 3PAR, customers have reduced the costs of allocated storage capacity, administration, and SAN infrastructure while increasing adaptability and resiliency. 3PAR Utility Storage is built to meet the demands of open systems consolidation, integrated data lifecycle management, and performance-intensive applications. For more information, visit the 3PAR Website at: www.3PAR.com.

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