Fifth Annual MITX What’s Next Forum & Technology Awards Recognize Outstanding Technology Advancements in New England Region

CAMBRIDGE, Mass. – May 2, 2008 – Permabit Technology Corporation, the industry’s leading innovator of scalable, data-reduced storage for enterprise archiving, today announced that it has been named as a finalist for the 5h Annual MITX Technology Awards.  The MITX What’s Next Forum & Technology Awards recognize innovative technologies developed in the New England area, as well as the individuals and organizations responsible for driving these advancements.  The Massachusetts Innovation & Technology Exchange (MITX) is the country’s leading association bringing together digital marketing, media and technology professionals to engage in what’s next for the web and how it impacts the marketing and business worlds.

Permabit Enterprise Archive Data Center Series ensures long-term integrity of information for large enterprises while dramatically shrinking operating expenses. Featuring patent-pending technologies including RAIN-EC and Scalable Data Reduction (SDR), the company’s product delivers disk-based information retention that is 250 times more reliable than RAID 6 technology while scaling up to 3 petabytes of disk capacity. Taking into account the data reduction that Permabit’s SDR technology can achieve, multiple petabytes of data can be stored for as little as 33 cents per gigabyte.  With this revolutionary new technology, Permabit is able to deliver the industry’s safest and most cost-effective disk-based archiving solution.

“In its fifth year, the MITX Technology Awards have attracted some of the most distinguished technological innovations that the region has to offer,” said Kiki Mills, executive director of MITX. “It is this tremendous interest that enables our organization to accomplish its mission of uniting the brightest minds in the digital marketing, media and technology community and honoring their outstanding achievement.”

Permabit will be recognized with the other finalists in the category of Data Management at an awards ceremony attended by the region’s top technology and business professionals. Winners will be announced at the ceremony at the Royal Sonesta Hotel on Tuesday, June 3, 2008. This year’s keynote speaker and special honoree is Dr. Amar Bose, Chairman & Founder of Bose Corporation.

The ceremony is preceded by the What’s Next Forum. The topic, Is Advertising the Model of the Future? will be a forward-looking discussion on whether online advertising is the winning model of the future for more than just content.

The MITX What’s Next Forum & Technology Awards are sponsored by Backbone Media, DLA Piper, Invest Northern Ireland, LEWIS PR, Oracle and Technology Review.

About MITX

Established in 1996, MITX—the Massachusetts Innovation &Technology Exchange is the leading industry organization focused on the web, bringing together the digital technology, marketing and media community to engage in what is next for the web and how it will impact the marketing and business worlds. Reaching more than 6,000 professionals in New England, MITX is a dynamic and growing community of thought leaders, collaborators, and individuals in search of insight, education and opportunity. With more than 60 events annually, MITX provides its members with the opportunity to promote their companies to targeted audiences and provides a valuable forum for networking to source potential business leads, partnerships, ideas, funding and other likeminded peers in the industry. MITX is headquartered in Cambridge, Mass. For more information please go to www.mitx.org.

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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