CHINA PETROLEUM & CHEMICAL CORPORATION DEPLOYS PANASAS ACTIVESTOR PARALLEL STORAGE CLUSTERS TO IMPROVE SEISMIC ANALYSIS

All Three of China’s Top Oil Production Companies Now Utilize Panasas Storage Clusters

FREMONT, CA —May 16, 2007 — Panasas, Inc., the leader in parallel clustered storage solutions for the High Performance Computing (HPC) market, today announced that China Petroleum & Chemical Corporation (Sinopec), China’s leading petroleum and natural gas producer, has chosen ActiveStor Parallel Storage Clusters for seismic information processing. The addition of Sinopec serves as milestone for the company as all three of China’s largest oil and gas exploration and production companies, PetroChina, China National Offshore Oil Company (CNOOC) and Sinopec, are now utilizing Panasas’ high performance parallel storage solutions.

“Sinopec has been impressed by the performance, simple installation process, and overall ease-of-use of the Panasas storage solutions,” said Zhang Xin, a senior engineer at Sinopec’s Zhongyuan oil field and senior researcher for oil field prospecting. “Compared to the formerly deployed NAS and SAN storage systems, the Panasas storage clusters provide the ease of installation, simplicity of management, and savings in IT overhead costs, that allow us to focus on critical seismic analysis.”

Sinopec uses the Panasas Parallel Storage Cluster to analyze and process seismic information as it prospects for oil and natural gas in the Shengli and Zhonguyuen oil fields in eastern China. The Shengli field is the second largest source of oil in China accounting for one-fifth of the country’s production. To satisfy the increasing performance needs of the seismic data, Sinopec deployed Linux clusters to meet the increasing demand of seismic data processing and analysis. To date, Sinopec has deployed 80 terabytes of Panasas parallel storage. This installation is supported by Panasas’ partner in China, ModernTech, which is based in Hong Kong.

“Sinopec’s choice of Panasas parallel storage systems is another testament of our performance, scalability, and technology leadership. We are dedicated to building the most cost-effective and most reliable storage systems for commercial HPC customers,” said Victor Perez, Panasas chief executive officer. “We are committed to technology leadership in parallel file systems and will continue to innovate with our object-based parallel clustered storage solutions.”

About Panasas

Panasas, Inc., the global leader in parallel storage solutions, helps commercial, government and academic organizations accelerate their time to results leading to real world breakthroughs that improve people’s lives. Panasas’ high-performance storage systems enable customers to maximize the benefits of Linux clusters by eliminating the storage bottleneck created by legacy network storage technologies. The Panasas ActiveStor Parallel Storage Clusters, in conjunction with the ActiveScale® Operating Environment and PanFS™ parallel file system, offer the most comprehensive portfolio of storage solutions for High Performance Computing (HPC) environments. Panasas is headquartered in Fremont, Calif. with research and development facilities in Pittsburgh, Pa., and Minneapolis, Minn. For more information, please visit http://www.panasas.com