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May 12, 2004

PSINAPTIC INC ANNOUNCES A LICENSING AGREEMENT

CALGARY, AB. PsiNaptic Inc (TSX-VN : PST), advises that it has entered into an agreement to license its JMatos® and CMatos technology to Majitek International, a Singapore headquartered company that develops software tools for smart embedded systems for industrial automation, home automation and home digital media delivery.

Under the terms of the agreement, Majitek will integrate JMatos and CMatos into their Maji software platform to be sold as a combined software solution to Majitek customers. PsiNaptic will receive payment by way of royalties.

“Through our partnership with PsiNaptic, Majitek is able to further demonstrate the power of the Maji platform combined with the extensive features of the InterMajik development tool. Manufacturers of products like mobile phones, security cameras, medical devices, and remote sensors who require low cost, low power networking will now be able to provide their end-users with autonomous device access and interoperability across unlimited protocols and platforms” said David Cronin, Majitek's President.

Commenting on the announcement Dr. Phil Blythe – VP Engineering Majitek said, “The combination of our two technologies enables scenarios where one or many mobile devices can move into and between wireless networks and seamlessly appear in that system as devices to be controlled or to control other devices”.

“We are delighted to work with Majitek," says Aaron Dagan, President and CEO of PsiNaptic Inc. “Our two companies share a similar vision and the Maji platform solution when combined with JMatos and CMatos will provide consumers with new and superior experience when it comes to industrial automation, home automation and home digital media delivery”.

JMatos and CMatos are a discovery protocol that enables very small-embedded processors to offer Java based services. Fully Jini Networking Technology compliant, JMatos' less than 100kb footprint lookup service, enables devices to spontaneously offer or consume services on a network. JMatos enables system implementations to extend dynamic distributed application and object-oriented methods to the smallest computing devices. The application of these methods greatly reduces system capital costs and operating costs, as well as enhancing system performance.

CMatos, is functionally equivalent to JMatos, and extends the reach of Java to non-Java devices. Very small-embedded processors can offer Java based services that can be anything from a simple driver to a full-blown application complete with a Graphical User Interface. With a total system memory footprint of less than 60 kilobytes (not including offered services), CMatos, complements JMatos.

About Majitek

Majitek™ provides the tools for next generation businesses to extend the edge of their PCs and server networks, to the new world of smart environments, embedded systems and swarms of nomadic devices. Majitek™ provides a stable platform for rapid application development in the fluid conditions beyond the edge of traditional IT network environments; seamlessly resolving issues of security, location, device type, communication protocol and operating environment. Building on the power of Java™ and Jini™ technologies, Majitek™ solutions are highly reliable, scaleable, adaptive and responsive to failure.

The Majitek™ product suite includes a distributed application toolkit (InterMajik™) for Software Developers and Integrators; as well as specialist solutions for Mobile Telecommunications (MajikWand™), Automation (MajikLink™) and Security & Surveillance (MajikEye™). Majitek has offices in San Francisco, Singapore and Melbourne Australia.

  Majitek
  Email: enquiries@majitek.com
  Website: www.majitek.com
   
  Contacts:  Rob Cumming, VP Operations
 +1 415 462 0696

About PsiNaptic Inc.

PsiNaptic implements distributed computing frameworks such as Jini technology for use in very small microprocessors. By combining JMatos™ technology with Java™ technology and standard wireless protocols such as Bluetooth™ and 802.11, PsiNaptic works with OEMs to add low cost, low power, wireless networking and spontaneous interaction capabilities to everyday objects.

  PsiNaptic Inc.
  Email: Inquiry
  Website: www.psinaptic.com
   

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