Panasas Increases Its Customer Base by 35% in 2007

Panasas, Inc. announced that the company
experienced a record-breaking year in 2007, recording its highest
annual billings ever and increasing its customer base by 35 percent.

Panasas storage is currently installed in over 30 countries across six
continents as parallel storage is being adopted globally as the
preferred solution for high performance computing environments.

Strong Panasas sales were driven by multiple factors.
International business grew significantly in 2007 and now represents
close to 40 percent of sales. Sales from Panasas-authorized channel
partners increased to a record one-third of overall sales, due to
successful distribution partnerships with Dell, SGI and numerous
international resellers. Newly established partnerships with Microsoft
and industry-leading independent software vendors (ISVs) played a
significant role in driving the increased acceptance of Panasas
parallel storage systems.

These 2007 successes will allow the company
to maintain its leadership in the fast-growing parallel storage market
and gain a larger market share in 2008. "Panasas provides its customers in manufacturing, energy
and government with a competitive advantage by empowering them to
utilize parallel storage as a critical means to improve their time to
market and time to results," said Victor Perez, president and CEO of
Panasas. "Our customers continue to respond positively to our offering
as they see the clear value that our parallel storage solutions bring
to their bottom line with increases in their revenue and their
competitive advantage."

Panasas, Inc.