Pannaway Technologies Named to IT Week Magazine's 2006 Top 100 Vendors List

Award Underscored by Innovative IP & Ethernet Technology, Unprecedented Customer Support and Strong Telco Customer Growth

Portsmouth, NH- June 5, 2006 - Pannaway Technologies, Inc., designers and developers of next-generation, converged IP broadband systems to telecommunications companies, today announced that it has been named to IT Week Magazine's prestigious Top 100 Vendors list for 2006. Recipients of this award are selected as the best of the best in creating the most promising new IT products and services for enterprise and telco companies. IT Week Magazine's Top 100 Vendors awards program recognizes the winning companies' contribution to advancement and excellence in the world of communications. All entries were reviewed and judged by a panel of IT Week Magazine editors and staff while extensive research was conducted on each of the companies. For a complete list of winners, visit www.itweekmagazine.com/top100.html.

"These awards are bestowed upon companies whose IT products demonstrate quality and distinction making them best in their class", said Ken Durham, Editor of IT Week magazine. "The process for selecting only 100 winners with so many great vendors to choose from was extremely difficult. In the end it boiled down to the vendors that exhibited the highest level of technology innovation and leadership within their respective markets and we're very happy for the opportunity to recognize these vendors for driving the IT industry forward."

Pannaway's winning technology entry was its heavily deployed Service Convergence Network (SCN™) solution. SCN enables service providers of all types and sizes to deliver traditional telephony, Voice over IP (VoIP) with guaranteed lifeline calling and E 911, high-speed data and digital IP TV - all in one low cost and easy-to-deploy solution that leverages the simplest and most scalable technologies available - IP and Ethernet. SCN is comprised of three cornerstones which include high-performance copper and fiber-based access products, intelligent customer premise equipment (CPE) and integrated broadband management. BAS copper configurations are available as an IP-DLC (voice only), IP-DSLAM (ADSL2+), or IP-BLC (combination voice, video and ADSL2+). This comprehensive product suite enables service providers to easily and efficiently deploy and maintain IP broadband networks capable of supporting current and emerging bandwidth intensive services.

"We are extremely honored to be recognized by IT Week Magazine as a Top 100 Vendors recipient", said Kevin Brown, Vice President of Marketing at Pannaway. "Our rapidly expanding customer base in conjunction with the broad acceptance that we're seeing for our SCN solution is evidence that our continued development efforts are making an impact on the communications industry."

About Possibility Media
Possibility Media (http://www.possibilitymedia.com) is a privately held Florida corporation and was established as the result of several acquisitions of various web sites and media properties, together with Virtual Trade Shows and the technology behind the shows. Although based in Miami, the company has people all over the globe including the U.K., Australia, South Africa, India, Ukraine, The Netherlands and other Eastern European nations.

For more information, please visit http://www.itweekmagazine.com or contact Victor Ramos, Associate Publisher of Possibility Media at (305) 428-0492.

About Pannaway Technologies
Pannaway provides telco-grade, converged voice, video and data solutions to telecom service providers and emerging Triple Play services companies. Pannaway's multiaward winning, RUS listed and patent-pending IP technologies enable telecom providers worldwide to deliver profitable broadband services to homes and businesses at a fraction of their historical costs. Pannaway also delivers the industry's first end-to-end telco-grade VoIP solution with integrated Primary Line service for lifeline POTS support. The privately held company is headquartered in Portsmouth, New Hampshire, and has been building solutions and service/support programs to fit the specific needs of rural telcos since 2002.

For more information, please visit www.pannaway.com.