Passkey Names Greg Pesik President and CEO - Former Manugistics Senior Executive Joins Passkey; Paradis Continues as Chairman

Pesik brings extensive hospitality and travel experience to Passkey. He played a key role at Talus Solutions, which was acquired by Manugistics late last year, where as senior vice president he lead the global sales strategy and business development activities for the transport, travel, and hospitality industry vertical. During his tenure, Pesik helped position the company as the leading provider of profit optimization technologies and orchestrated Talus Solution's move into new industries such as gaming. Before joining Passkey, Pesik oversaw an industry portfolio that included hotels, passenger airlines, cruise lines, cargo, ocean shipping, rail, trucking, and rental cars.

Prior to Talus Solutions, Pesik was vice president and director of business development at Aeronomics, Inc. where he first entered the field of yield and revenue management software. He has also held lead consulting and management positions for Andersen Consulting and KPMG Peat Marwick, LLP, both in the fields of hospitality and travel. He is known on the international industry lecture circuit as an expert in travel and hospitality technology, revenue management and operations and holds both an MBA from Cornell University, as well as a Bachelor of Science degree from the Cornell School of Hotel Administration.

"Greg Pesik joins Passkey in a very important stage of our growth in the hospitality industry and at a critical juncture in the evolution of Passkey's hotel property directed products and services. We recently introduced our HotelDirect product targeting group hotel reservations for small meetings at single properties," said Roger Paradis, Passkey's Chairman, in making the announcement. "His business skills and international experience will be invaluable as we realize our ambition of widening the scope of Passkey's very powerful reservations management tools for group events. We are very fortunate to have attracted an individual of Greg Pesik's caliber to take Passkey and HotelDirect to the next level."

In the past 10 months Passkey debuted Passkey HotelDirectTM; added 8 new CVBs to its network of Passkey-enabled SM cities in the US and Canada; and became a key supplier to Key3Media, producer of COMDEX and over 60 other conferences in 19 countries, serving 6,000 technology vendors and 2 million attendees. Last January, Passkey announced the company had received $14.4 million in Series D funding from three of the four Global Distribution Systems - Sabre, Galileo and Worldspan.

Greg Pesik said, "Passkey's value proposition to the hospitality industry is as compelling as that delivered by revenue management software - producing material and measurable improvements in operations and profitability. Moreover, Passkey delivers a very powerful profit-improvement solution long-overlooked by traditional applications…optimizing group business. Those attributes make Passkey a critical hospitality technology. I am very proud to now be associated with the premier organization delivering this type of value to the industry."