PsiNaptic Inc. Announces Financial Statement Filings

    NEX: PST.H

    CALGARY, Aug. 27 /CNW/ - PsiNaptic Inc. (NEX: PST.H) has filed on SEDAR
its unaudited third quarter interim financial statement, and related MD&A.
    The closing of the non-brokered private placement in May 2008 has lent
stability to the Company for the balance of this calendar year.
    The reverse takeover announced in July 2007 has been terminated and the
focus of operations has returned to the Company's core business. Trading of
the Company's shares has now commenced on the NEX Exchange.
    The development targets under the licensing agreement with Novatium
Solutions Pvt Ltd of Chennai, India were successfully met on time.
    The Company looks forward to recording revenue from the licensing of its
technology to Novatium by calendar year end.

    About PsiNaptic Inc.

    PsiNaptic is a technology company that develops and markets software
based on open standards to address the growing need to connect small,
low-power wired or wireless devices without human intervention, configuration
or set up. PsiNaptic solutions operate on multiple platforms, across various
networks including Bluetooth and WiFi.

    The NEX Exchange has not reviewed and does not accept responsibility for
    the adequacy and accuracy of this release.

For further information:

For further information: Aaron Dagan, President and CEO, Telephone:
(403) 775-2236 extn 226, E-mail:, Web site:

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