PNO Path 1 Netwk Tech

World-Class Technology Industry Veteran, Tom Tullie, to Lead Path 1 to Its Next Level of Growth SAN DIEGO, Nov. 14 /PRNewswire-FirstCall/ -- Path 1 Network Technologies (AMEX:PNO), a leading provider of video networking products that enable the transmission of broadcast-quality video over IP networks, today announced that it has appointed Tom Tullie, a world-class technology industry veteran, to the position of Chief Executive Officer, effective November 15, 2005. Mr. Tullie, 41, will be responsible for directing Path 1 to its next level of growth, as the Company takes advantage of the many emerging opportunities in the video-over-IP marketplace. Mr. Tullie will be attending the Path 1 quarterly conference call set for later today. "We are extremely pleased to welcome someone of Tom's caliber to the Path 1 family," said Frederick Cary, a Director of Path 1, and interim co-chief principal executive officer. "Tom has a proven track record of successfully building leading-edge technology companies as evidenced by his success at Applied Micro Circuits Corporation. In addition, his unique combination of expertise in P&L management, sales, marketing, operations and engineering over the last two decades will greatly benefit our Company as we continue to find ways to further improve our products and grow our customer base. Over his impressive career, Tom's results-oriented approach has delivered strong growth at both the top and bottom line. His excellent Wall Street relationships will also serve us well as we continue to create and sustain maximum shareholder value." "I am very excited about joining Path 1, a company that I believe has outstanding opportunities ahead," said Tom Tullie. "Over the next several weeks I'll be examining the Company and its operations to help identify ways to leverage those opportunities into tangible, real-world results. I take very seriously the commitment I've made to the Company, its Board and its shareholders, and I look forward to helping Path 1 achieve the next level of growth by expanding our customer base, continuing to design the cutting-edge products we are known for and providing the superior service our customers have come to expect." Before joining Path 1, Mr. Tullie spent 9 years with Applied Micro Circuits Corporation ("AMCC") in a variety of executive management positions, most recently as Chief Operating Officer and President and CEO of AMCC Sales Corporation. During his tenure at AMCC, Mr. Tullie was also responsible for the Company's World Wide Sales and Operations Organization, where he helped grow revenues by almost 1000% to $435 million over a five year period. As Chief Operating Officer at AMCC, the Company consistently met or exceeded Wall Street expectations, while delivering steady sequential revenue growth. AMCC achieved a market capitalization peak of over $30 billion during Tom's tenure. Prior to that Mr. Tullie spent 7 years with S-MOS Systems, the North American semiconductor affiliate of Seiko Epson in Japan, where he was responsible for sales, tactical marketing and applications engineering throughout much of the United States. Before that, Mr. Tullie was a Design Engineer for Digital Equipment Corporation. Mr. Tullie earned his BS degree in Electrical Engineering from the University of Massachusetts and his MBA in International High Technology Marketing from Clark University. Separately, Path 1 also announced that it has promoted Jeremy Ferrell, the Company's Controller, to the interim Chief Financial Officer position. During Mr. Ferrell's tenure at Path 1, he has led the accounting and finance functions, in addition to SEC reporting and Sarbanes-Oxley compliance. Before joining Path 1, Mr. Ferrell was the Controller at Spescom Software Inc., a publicly traded software company specializing in integrating and configuring documents for online storage, and before that was the Controller at VitaGen Incorporated, a biotech company. Mr. Ferrell has also held senior level finance positions at several other companies. He is a certified public accountant and earned a degree in accountancy from Liberty University. "Jeremy has been a great asset to Path 1, and we are happy that he has agreed to take on the added responsibility of interim CFO," said Mr. Cary. "We believe that Jeremy's in-depth knowledge of our Company, its markets and its customers, coupled with his sharp financial acumen, will help ensure a smooth and seamless transition." About Path 1 Network Technologies Inc. Path 1 Network Technologies Inc. is the pioneer and leading provider of video gateway products that enable the conversion and distribution of real-time, broadcast-quality video over Internet Protocol (IP) through both public and private networks. From the delivery of live MPEG-2, MPEG-4, and VC-1 standard definition and high definition (HD) broadcasts to Video on Demand (VOD), Path 1's video infrastructure platforms allow broadcasters, cable, telco, satellite and mobile operators to transmit high-quality point-to-point, multipoint and multiplexed video across town or around the world. To find out more about Path 1 Network Technologies Inc., visit our website at http://www.path1.com/ or call 877/ONE-PATH (663-7284). This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results or strategies and are generally preceded by words such as "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that Path 1 will require additional financing, that our products might not achieve customer or market acceptance, that our products might not perform as expected, that customer trials might not lead to future sales, that our sales and gross profits might fluctuate between reporting periods, and other risks identified in our annual report on Form 10-K and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof, and Path 1 undertakes no obligation to update such statements. MEDIA: Alice Borda Sterling Communications (408) 395-5500 AT FINANCIAL RELATIONS BOARD: Lasse Glassen General Information (310) 854-8313 Amy Cozamanis Investor/Analyst Information (310) 854-8314 DATASOURCE: Path 1 Network Technologies CONTACT: Alice Borda of Sterling Communications, +1-408-395-5500, , for Path 1 Network Technologies; or General Information, Lasse Glassen, +1-310-854-8313, , or Investor/Analyst Information, Amy Cozamanis, +1-310-854-8314, , both of Financial Relations Board, for Path 1 Network Technologies Web site: http://www.path1.com/

Copyright