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Panasas Plans Major Hiring Ramp as Revenue Grows by More than 40 Percent in 2010

Company Delivers World’s Fastest HPC Storage System, Strengthens Executive Leadership Team, and Extends Success in Key Vertical Markets

FREMONT, Calif., Feb. 8, 2011Panasas®, Inc., the leader in high performance parallel storage for business-critical applications, today announced that the company achieved record revenue in 2010, increasing by more than 40 percent for the year. Building on five consecutive years of uninterrupted revenue growth, Panasas plans to significantly ramp employee headcount by more than 50 percent across several key functions including engineering, sales and marketing in 2011.

The company attributes its strong growth to the introduction of Panasas ActiveStor® 12 (PAS 12), the world’s fastest parallel storage system and success in key vertical markets including energy, government, bioscience, and other core research and development sectors. The company’s global reach extends to 50 countries, with individual HPC installations supporting more than four petabytes of data storage in a single global namespace.

"Panasas is one of the best known and most respected vendors in the HPC storage market, which IDC projects will continue to exhibit healthy growth over the next five years," said Steve Conway, IDC research vice president, High Performance Computing. "With its experienced leadership and strong portfolio of HPC products, Panasas is well positioned to capitalize on the increasing needs for HPC storage and data management in the government, academic and commercial sectors."

Technology Leadership

Panasas recently launched PAS 12 featuring the Panasas PanFS® parallel file system. PAS 12 delivers massive improvement in both parallel HPC performance as well as traditional NFS for scale-out NAS. Panasas continues to play a leadership role in the storage industry-wide roll-out of pNFS, a networked storage standard that aims to bring HPC performance to broader markets.

Expanded Executive Leadership

Panasas is now positioned to benefit from the strong executive leadership team it put in place over the course of 2010, starting with the hire of Faye Pairman, president and chief executive officer, and continuing with the hires of Barbara Murphy, chief marketing officer; Bill Ribera, vice president of sales; and Celeste Baranski, senior vice president of engineering and operations.

“As we acknowledge the many successes Panasas achieved last year, the company is laser focused on growing the team to deliver compelling products, win new verticals, and continue to increase market share in 2011 and beyond,” said Faye Pairman, president and CEO of Panasas.

Industry Awards

  • HPCwire Readers' Choice Award for the Best HPC Storage Product or Technology (Panasas ActiveStor parallel storage products)
  • HPCwire’s “People to Watch in 2011” (Faye Pairman)
  • InfoWorld “The Best CTOs of 2010” Award (Garth Gibson)

About Panasas

Panasas, Inc., the leader in high-performance parallel storage for business-critical applications, enables customers to rapidly solve complex computing problems, speed innovation and accelerate new product introduction. All Panasas storage products leverage the patented PanFS® storage operating system to deliver superior performance, data protection, scalability and manageability. Panasas systems are optimized for demanding storage environments in the energy, government, finance, manufacturing, bioscience and higher education industries. For more information, visit www.panasas.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, our ability to maintain and control costs, the effectiveness of our business strategies, market share opportunities, and reception of our value proposition, as well as demand for and adoption of our technologies in our customer markets. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are based on management's current, preliminary expectations and are subject to various risks and uncertainties, including: the potential for slower than expected growth of the storage market or in customer adoption of our storage solutions, particularly in light of substantial uncertainty about macroeconomic trends in the United States and globally, and their potential impact on information technology spending; the impact of competitive conditions.

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Panasas Media Contact
James McIntyre
McClenahan Bruer Communications
panasas@mcbru.com
www.mcbru.com
(503)546-1000

©2011 Panasas, Inc. Panasas, the Panasas logo, ActiveStor, and PanFS are registered trademarks or trademarks of Panasas, Inc. All other trademarks are property of their respective holders.