Tranax Names James V. McCanna as Vice President and Chief Financial Officer -- New CFO Brings Leadership in Worldwide Finance, Legal and IT Functions

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Tranax Technologies, Inc., a leading developer of ATMs and self-service kiosks, today announced the selection of James V. McCanna as Vice President and Chief Financial Officer. New CFO brings leadership in worldwide finance, legal and IT functions.

Tranax Technologies, Inc., http://www.tranax.com, a leading developer of ATMs and self-service kiosks, today announced the selection of James V. McCanna as Vice President and Chief Financial Officer.

"James McCanna brings business leadership, finance, legal, and IT capabilities to Tranax," said Dr. Hansup Kwon, founder and CEO. "As importantly, he has helped to build several large, successful international companies. His selection represents an important addition to the Tranax senior team."

"Tranax is one of the best run companies in the industry," said McCanna. "Its track record and proven ability to create innovative, high-value products set it above competitors and position Tranax for a period of strong growth. I am delighted to become a member of the senior team."

James McCanna brings a strong background in Controllership and Treasury experience in worldwide high technology manufacturing environments, ranging from startups to a public $5 billion storage company.

Most recently, McCanna was Vice President, Finance and Worldwide Operations, and CFO, of 3Dconnexion Inc., a Logitech Company. There, he was in charge of finance, accounting, human resources, legal, information technology, operations, logistics, and facilities.

During his tenure, McCanna was responsible for successfully transferring manufacturing from 3Dconnexion's German operation and two third-party manufacturers, to Suzhou, China. McCanna directed the worldwide build plan and the related manufacturing and sourcing relationships. He also directed the negotiation and acquisition of patent and invention rights that were the foundation for the company's differentiating technology. As well, he led the negotiation and sale of a product line with related technology to a German acquirer. He managed 3Dconnexion's worldwide patent and trademark filing processes, coordinating with internal and external counsel. McCanna participated as a member of Logitech's Sarbanes-Oxley compliance team documenting and testing internal control processes.

Prior to joining 3Dconnexion, McCanna served as CFO of Silicon Motion Inc., a fabless semiconductor company. Previously, he was Vice President, CFO, and Secretary at Innergy Power Corporation, a battery manufacturer from 1996 through 1998. McCanna also held senior financial management positions at Quantum Corporation, a public manufacturer of mass storage products from 1982 to 1996. He holds a B.S.C. degree in finance and an M.B.A. degree with honors from Santa Clara University. He is married and lives in Pleasanton, CA, with his wife and three children.

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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