Pannaways' Service Convergence Network system added to RUS list of materials

August 3, 2005 Portsmouth, NH -- Pannaway Technologies today announced that its Service Convergence Network (SCN) system for both fiber and copper broadband deployments has been accepted for listing by the U.S. Department of Agriculture's Rural Utilities Service (RUS).

Acceptance on the RUS List of Materials means that qualified RUS borrowers can use long-term, low-interest loans funded by the U.S. federal government to purchase Pannaway's SCN, which enables the delivery of "triple play" voice, video, and data services to rural subscribers, over a single broadband connection.

The RUS broadband program may provide rural loans to Independent Operating Carriers (IOCs) at interest rates and terms that are more favorable than those generally available from the private sector. The program is designed to keep costs down, enabling customers in rural areas to have access to the same advanced broadband services as those offered by the larger regional and national carriers.

"RUS provides a great service to rural carriers and their broadband subscribers, and we are honored to be a part of such a groundbreaking initiative," remarks Mike Skubisz, CTO of Pannaway. "Our award-winning SCN system and all of its inherent next-generation capabilities can now be made available to rural IOCs, regardless of their plan to fund the project."