PsiNaptic Inc. Announces the Signing of a Memorandum of Understanding (MOU) with Novatium Solutions PL

    CALGARY, Jan. 24 /CNW/ - PsiNaptic Inc. (TSXV: PST), the first company to
implement standalone Jini(TM) Network Technology for embedded processors,
announced today that it has signed an MOU with Novatium Solutions PL of India.
The MOU is a statement of intent to collaborate and is non-binding.
    Novatium, the leading provider of sub $100 computers for Thin Client
networking systems in India, has partnered with some of India's largest
telecommunications companies to provide internet connectivity and computer
applications to every home in India, and is in the midst of national
    Under the MOU, PsiNaptic will licence its award winning Jini(TM)
Networking Technology for embedded computing devices and Java software to run
on all of Novatium's Customer Premise Equipment and Servers, and will provide
Novatium with Java applications which will be made available to Novatium's
customers on its network.
    "We are delighted to partner with Novatium," says Aaron Dagan,
PsiNaptic's President and CEO. "Novatium represents the future of affordable
computing systems and of making the dream of computers for every home a
reality. Novatium's selection of the PsiNaptic networking software for its
system is further testament to the strength and advantage that PsiNaptic
software is providing over other competing technologies."
    It is the intention of the parties to enter into a definitive agreement
by February 11, 2008. No further information on the size of this contract has
been made available at this stage.

    About PsiNaptic Inc.

    PsiNaptic is a technology company that develops and markets software
based on open standards, to connect small, low-power wired or wireless devices
without human intervention, configuration or set up.
    PsiNaptic software uses the Java concept of "write once, run anywhere"
and code mobility to deliver application code to devices when and where the
code is required. This approach to device interaction eliminates the need for
both devices to have pre-installed application specific software, drivers or
graphical user interfaces. Resource constrained devices, such as mobile
phones, music or game players, appliances etc. can execute an infinite number
of applications.
    PsiNaptic solutions operate on multiple platforms, across various
networks including Bluetooth and WiFi.

    Statements in this release which describe the Corporation's intentions,
expectations or predictions, or which relate to matters that are not
historical facts are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties which may cause
the actual results, performances or achievements of the Corporation to be
materially different from any future results, performances or achievements
expressed in or implied by such forward-looking statements. The Corporation
may update or revise any forward-looking statements, whether as a result of
new information, future events or changing market and business conditions.

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

For further information:

For further information: PsiNaptic Inc., Aaron Dagan, (403) 830-5957,
E-mail:, Website:

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