SYSTEMS

Vancouver, Canada -- OctigaBay Systems Corporation today announced that Steven Joachims has joined the organization as vice president of business development and Bill Heil has been appointed to the board of directors. Joachims joins OctigaBay from Hewlett-Packard (NYSE:HPQ), where he was the director of marketing and solutions for HP’s high performance computing (HPC) business. Joachims’ career spans more than 20 years in the HPC industry. At HP, he most recently directed the worldwide server business unit in high performance and technical computing markets. In his seventeen years with HP and Convex Computer Corporation (acquired by HP in 1994), Joachims led organizations with responsibilities ranging from strategic planning for products and technologies to market and business development to product and solutions marketing. In his role at OctigaBay, Joachims will be responsible for championing strategic alliances and key partnerships, establishing strategies for commercialization and developing channel programs. “OctigaBay has that rare mix of vision, innovative technology, and the expertise to pull it off,” said Joachims. “I’m delighted to be joining such a powerful team and look forward to introducing a powerful new computing concept with the ability to transform the HPC industry.” Bill Heil is also an industry veteran with over 20 years in high performance computing including roles as the VP General Manager for the Business Critical Servers Group and VP General Manager for the Tandem Division of Compaq. Heil was part of the Tandem executive team responsible for negotiation, merger and integration into Compaq; his earlier career highlights include senior roles at Molecular Computer, TeleVideo Systems and AMD. Heil will play an active leadership role on OctigaBay’s Board of Directors, providing industry insight and advice to the company. “It has been some time since I have seen a company with the potential to change the HPC landscape the way OctigaBay promises to. I am pleased to be providing strategic leadership to a team of this caliber,” said Heil. “We are very excited to be adding such talent to our executive team and board,” said John Seminerio, President and CEO of OctigaBay. “Both Steven and Bill’s experience and industry knowledge provides unique perspective that will help OctigaBay develop strategies to better serve our customers. They are tremendous assets to the company and we are delighted to have them on the team.” In January of this year, OctigaBay announced it had secured $24 million seed financing. The company’s management team includes the founders and senior managers from Abatis Systems and Alcatel Canada. Abatis was acquired in September 2000 for over $1 billion in one of the largest acquisitions of a private technology company in Canadian history. OctigaBay’s product plans will be announced at a later date.