PanGo Receives MITX's Elite 'What's Next' Award for Innovation; Wireless asset tracking leader is recognized for proven technology leadership

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Sept. 23, 2004--PanGo Networks, Inc. (www.pangonetworks.com), today announced that it has been selected as a winner of Massachusetts Innovation & Technology Exchange's (MITX) first annual "What's Next" award to be presented at the MITX Technology Awards Ceremony. This honor is exclusive to New England based emerging companies that have demonstrated unsurpassed technology credentials. The "What's Next" award is based on a survey conducted by a select group of local industry influencers and executives. Ranking is based on innovation across technologies that are expected to have profound impacts on the IT environment within the next few years.

"We sought technical and market leading companies in New England and its surrounding areas that have the most compelling impact on businesses through innovative products and unique attributes," said Leslie Cushing, Executive Director of MITX. "PanGo has made great strides in advancing wireless asset tracking technology and we are pleased to extend these accolades to a company that exemplifies the true meaning of 'What's Next' in its market."

“This award is further evidence of our tremendous success and leadership as a company and commitment to our customers to develop systems that deliver value for today's challenges and those that are on the horizon”

PanGo continues to drive innovation into a market that -until now - has been dependent on the redundancies of hardware based RF - systems. With its recent launch of PanGo Locator, a new 802.11-based complete wireless locationing system, PanGo has set new standards for flexibility and integration never offered before by other wireless solution providers.

"This award is further evidence of our tremendous success and leadership as a company and commitment to our customers to develop systems that deliver value for today's challenges and those that are on the horizon," said Michael Campbell, President & CEO of PanGo. "As a young, emerging company in the Boston area, we are honored to be included among these distinguished leaders and look forward to joining them in further elevating New England's position as a foundation for cutting edge technologies that have staying power."

PanGo will be honored during an awards ceremony to be attended by 200 of the region's top technology and business professionals from 6:00 p.m. - 8:30 p.m. at the Four Seasons Hotel in Boston on Wednesday, September 22, 2004.

The 2004 MITX Technology Awards are sponsored by Bank of America, Nixon Peabody LLP, TD Capital, Technology Review and The Barbarian Group.

About PanGo Networks

PanGo Networks(TM) is the leading provider of location-aware wireless systems for the enterprise market. PanGo's software and systems transform off-the-shelf WLAN infrastructure into a platform for intelligent applications that improve important business processes. Through its flagship PanOS(TM) platform and mobile applications, PanGo offers the industry's first comprehensive system for real-time asset visibility and context-aware information delivery.

Specializing in a range of markets including healthcare, manufacturing, retail and government, PanGo delivers reliable and accurate information about the location of connected devices, people and assets. PanGo's location-aware systems enable optimal information management and workflow, and provide measurable and significant return on investment. For more information, visit http://www.pangonetworks.com.

About MITX

The Massachusetts Innovation & Technology Exchange (MITX), formerly known as MIMC, accelerates business opportunities and professional development for those who seek to create business advantage through the innovative application of technology and services. Serving more than 2,500 members from multiple industries including Internet, nanotechnology, interactive marketing, healthcare, and financial services, MITX is the region's premier association for thought leadership, technology trends, building business relationships and professional training and development. MITX also offers its members the chance to promote their companies to targeted audiences through sponsorships, speaking opportunities and networking. MITX is headquartered in Boston. For more information please go to www.mitx.org.