Enterprise Archiving Company Names Storage Industry Leader to Executive Staff

CAMBRIDGE, Mass. -- January 22, 2008 -- Permabit Technology Corporation, the provider of scalable, data reduced storage for enterprise archiving, announced today the appoin™ent of Michael Ivanov as vice president of marketing. He brings more than 15 years of storage software marketing experience having held executive and senior management roles at CommVault Systems, Mimosa Systems, and Veritas Software. Ivanov's appointment is the latest strategic addition to the executive team and he will be responsible for Permabit's product marketing execution, new business development, and overall marketing strategy to help drive sales for the company.

"Mike's deep domain expertise and evolved understanding of the enterprise storage business combined with his start-up experience make him the ideal individual to educate the market about the unparalleled advantages of Permabit's enterprise archive solutions," said Tom Cook, CEO of Permabit. "We plan to leverage his insights and well-established track record to grow our business and implement marketing strategies that will allow us to accelerate enterprise customer adoption of our solutions."

Before joining Permabit, Ivanov headed CommVault Systems' Archive Center of Excellence, a dedicated cross-functional team focused on CommVault's enterprise archive solutions. Prior to CommVault, Ivanov was vice president of product marketing for Mimosa Systems. At Mimosa, he was responsible for all areas of marketing and was instrumental in defining and launching both the product and the company brand. Before Mimosa Systems, Ivanov held senior management roles in product management and marketing for Veritas Software. Over the course of his nine-year tenure at the company, which merged with Symantec in 2005, Ivanov was responsible for the overall Microsoft Windows strategy and managed the Backup Exec, Volume Manager, Storage Replicator, Storage Migrator, NetBackup Professional, and WinINSTALL product lines.

"Long-term retention of digital content plays an integral role in an enterprise's overall data storage strategy," Ivanov explained. "Permabit has created a product that leads the industry in technical innovation and value by providing a cost-effective, disk-based archiving solution. I look forward to promoting our enterprise archive solution in the marketplace and keeping Permabit top-of-mind with IT managers."

Ivanov's appointment comes on the heels of Permabit's announcement of Clint McVey as senior vice president of development. Expansion of the company's management team is a direct response to the growing demand for Permabit's solutions and the company's commitment to anticipating and addressing its customers' enterprise archiving needs.

About Permabit Technology Corporation

Permabit is the leading supplier of scalable data reduced storage for enterprise archiving. Permabit was founded in 2000 by a technical and business team from Massachusetts Institute of Technology. For more information visit www.permabit.com.

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