Tranax Announces Creation of a New Board of Directors To Help Position the Company for its Next Phase of Growth

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Tranax Technologies, Inc., a leading developer of ATMs and self-service kiosks, today announced the institution of a Board of Directors to help position the company for its next phase of growth.

Tranax Technologies, Inc., http://www.tranax.com, a leading developer of ATMs and self-service kiosks, today announced the institution of a Board of Directors

"We've brought in a very experienced team of senior executives to help steer the company -- all of whom have successfully built large global, high technology companies. They bring a wealth of experience and expertise in operations, finance, strategy, and management. Their purpose is to help Tranax Technologies be in position for its next phase of growth," said Dr. Hansup Kwon, founder and CEO.

The role of the newly-created board of directors will be to serve as a sounding board and counsel to help the CEO and executive team evaluate and respond to strategic business opportunities and challenges. The charter will also include accelerating the implementation of practices, people, and strategies needed to expand and grow Tranax.

The five board members will serve for 3 years and will provide best practices related to corporate strategy, operations, and general management. The team consists of 3 non-executive directors: Wolfgang H. Hausen, Jack McDonnell Jr., and Dr. Kathryn S. Hanson; two executive directors: Dr. Hansup Kwon and Heemook Kwon, Vice President of Corporate Development at Tranax. Diane Holt Frankel will serve as board counsel.

Wolfgang H. Hausen,
Wolfgang H. Hausen, has extensive operations and senior management experience and has successfully led and grown large global high technology companies. Hausen is the former President and CEO of 3Dconnexion, a subsidiary of Logitech and Senior Vice President and General Manager of Logitech's Control Device Business Division, with worldwide sales in excess of $650 million.

Prior to Logitech, Wolfgang served as President and CEO at Cardinal Technologies, Inc., Vice President and General Manager at Quantum Computing, and held senior-level positions at IBM, Sperry and Rolm Corporations. Hausen has a Diplomingenieur degree from the Technical University of Darmstadt, Germany, a MBA from Santa Clara University, California, and is a member of the Advisory Board and an Executive Professor at the Management Department of Santa Clara University's School of Business.

Jack McDonnell Jr.
Jack McDonnell has deep experience with transaction operations for banks, financial companies, credit unions, and other financial institutions. McDonnell is currently founder of TNS, an e-commerce data communications company, and was Chairman and CEO of PayLinX. He is also founder and head of the Electronic Funds Transfer Association (EFTA), recipient of KPMG Peat Marwick LLP's 1997 High Tech Entrepreneur Award and the Rensselaer Polytechnic Institute 2002 Entrepreneur of the Year Award. He serves as a director at DealerTrack and Cyber Source, both publicly-held companies.

McDonnell holds an M.S. in Electrical Engineering from Rensselaer Polytechnic Institute in New York, a B.S in Electrical Engineering from Manhattan College, and an Honorary Doctorate of Humane Letters from Marymount University in Virginia.

Dr. Kathryn S. Hanson
Dr. Hanson is Chief Marketing Officer of Red Herring, Inc. She has over twenty-five years of experience in high technology as a consultant and in marketing and strategic management positions at HP, Convergent, and Pensare. Her consulting has focused on business strategy and performance as well as marketing strategy and accountability. Her clients have included HP, Sun Microsystems and Cisco, and start-up ventures such as Verity, NetLabs, Creative and Banter Software.

Dr. Hanson co-founded two Internet start-ups (SatMetrix and eMentoring.com), where she also held key operational responsibility. At Satmetrix, a leading on-demand customer loyalty solutions company, she was Vice President of Marketing and Chairman of the Board.

Hanson holds an M.B.A. with Distinction from Harvard University, an M.A. and PhD from the University of Chicago, and a B.A. with Distinction from Stanford University.

Diane Holt Frankle, Esq
An attorney with international law firm DLA Piper, Frankle, specializes in mergers and acquisitions, corporate governance, disclosure, anti-takeover counseling, internal investigations, public offerings, venture capital financing, new company formation, and executive compensation. Her clients include publicly-traded and privately-held companies engaged in U.S. and cross-border mergers, acquisitions, and leveraged buyouts.

She was recently listed in the 2005 Who's Who Legal: The International Who's Who of Business Lawyers and, in 2006, was recognized as one of Northern California's Super Lawyers for her mergers and acquisitions practice, in San Francisco magazine.

Ms. Frankle has a B.A from the College of Wooster in Ohio, Phi Beta Kappa, and a J.D. from Georgetown University Law Center, magna cum laude.

About Tranax Technologies
Tranax leads the self-service industry in the design, development, manufacture, and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries. Founded in 1986 by Dr. Hansup Kwon, the company has now sold over 80,000 ATMs installed across North America.

Since the beginning, Tranax has been known for its innovative, high-value products, but what really differentiates the company from its larger competitors is its strong focus on product quality and reliability, customer service and support, and the entrepreneurial and visionary founder.

The company was selected by Frost and Sullivan to receive the Growth Strategy Leadership Award for 2006 "for its outstanding ability to make rapid strides into the highly competitive ATM market in North America."

For more information please visit http://www.tranax.com

Contact Information
Charles Flanagan
Marketing Communications Department
Tranax Technologies
510/770-2227 x408
cflanagan @ tranax.com

Robin D. Stavisky
New Venture Marketing
650/858-1070
rstavisky @ newventuremarketing.com

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ROBIN STAVISKY
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