-- Acceleration of technology into the MAGNM-20 platform. -- Inclusion of Inteleflex as a key component of the Pannaway portfolio, enhanced with Pannaway's 10Gigabit transport across an all IP backplane, ensuring telcos who have invested in this platform that extensive future development and support will continue. -- The ability for telcos to easily transition at their own pace, from SONET/ATM and TDM to a fully converged IP infrastructure. -- Industry-leading systems approach combining IP, 1 to 10Gigabit, SONET, TDM, FTTH 2.4 GPON and 100/1000Mbps Active Ethernet, xDSL, T1, POTS and Special circuits."I am pleased to have found such a strong match with Pannaway and elated to be an ongoing and active member of the Pannaway board," said Bob Carroll, CEO of TelStrat. "I am impressed with the commitment of the investment team and strong balance sheet that Pannaway enjoys, underscored by its continued zero debt position. Pannaway has both the resources and the technology arsenal to continue to serve our existing customers well, while focusing on the continued development of integrated IP broadband solutions." Mark Carpenter, President for Pannaway adds, "The various integrated technologies and broad range of platforms that come into play as a result of this acquisition strengthen the capabilities of our entire broadband solution portfolio and will become our customers' catalyst for growth as they move toward an all-IP future." About TelStrat International, LTD. TelStrat® provides communication solutions for wireline access networks and enterprise telecommunications environments. The company's innovative Inteleflex® broadband loop carrier platform enables telecommunications providers serving smaller cities and rural markets to bridge today's circuit-switched networks and emerging packet-based services to deliver converged voice, data and video communication and entertainment services. TelStrat also offers the CallParrot™ Business Call Recording portfolio, which enables call center quality monitoring and business liability protection, and a variety of remote access products sold under the Nortel name. Founded in 1993, TelStrat has consistently maintained an unsurpassed commitment to customers and their business needs. The company is headquartered in Plano, Texas. For more information, please visit www.telstrat.com. About Pannaway Technologies Pannaway delivers customer-proven broadband access and transport solutions that enable wireless and wireline telecommunications service providers to offer new advanced services to their subscribers. Based on industry-standard IP (Internet Protocol) technologies, Pannaway's multi award-winning Service Convergence Network (SCN™) architecture enables providers to reduce expenses, increase revenue and compete more effectively through the delivery of converged services. For more information, please visit www.pannaway.com This press release contains forward-looking statements that are based upon management's current expectations and are inherently uncertain. Forward-looking statements are based upon information available to us as of the date of this press release and we assume no obligation to revise or update any such forward looking statement to reflect any event or circumstance after the date of this release. Actual results and the timing of events could differ materially from current expectations due to a number of factors. The acquisition of TelStrat by Pannaway is subject to the satisfaction of customary closing conditions.
Contact Information: Contacts: Kevin Brown Pannaway Technologies 603-766-5142 kbrown@pannaway.com Dale Allaire BridgeView Marketing 603-766-3681 dale@bridgeviewmarketing.com