- Technology Leader Joins Roster of Distinguished Program Alumni -

CARMEL, Ind. (November 29, 2005) -- Performance Assessment Network, Inc. ® (“pan”™), a world leader in online assessment and talent management systems, today announced that its Chairman and CEO David T. Pfenninger, Ph.D., who was selected as the Indiana Ernst & Young Entrepreneur Of The Year® in the Information Technology Category in June 2005, was inducted into the Ernst & Young Entrepreneur Of The Year Hall of Fame during the national awards program in Palm Springs, Calif., on November 19, 2005.  

The Ernst & Young Entrepreneur Of The Year Award recognizes business leaders who personify entrepreneurial excellence and the spirit that drives growing businesses. An award nominee must be a business owner or manager who is primarily responsible for the recent performance of a private or public company and be an active member of top management.

“The atmosphere of excellence at the Ernst & Young Entrepreneur Of The Year program in Palm Springs was palpable. It is an honor to have been recognized at this event along with some of the most inspirational leaders in U.S. business,” remarked Pfenninger. “This achievement is a direct result of the efforts of pan’s entire team, which is dedicated to creating positive customer experiences and successful outcomes for our growing business.”

Since founding pan in 2000 with a revolutionary vision of online assessments and accurately assembled results in near real-time, the company has grown rapidly under Pfenninger’s direction, despite a fiercely competitive business environment. Today, pan’s state-of-the-art, secure automated systems provide the administration and delivery of professional assessment and testing instruments for organizations worldwide. pan helps employers to automate the hiring process, drive down costs, minimize turnover, and create a higher caliber workforce.

The company is also keenly aware of changing needs and fluctuating market demands. In July 2004, pan introduced Vita, a Web-based solution that provides recruiting, hiring, and human resource professionals with the Vital Information for Talent Assessment needed to identify and compete for top performers. The system supports complex, high-volume selection systems internationally, including programs for major U.S. government departments and corporations.

In 2005, pan was also named the top Rising Star on the Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. In Indiana, pan won an award in the growth category from the Indiana Entrepreneurial Awards of Distinction, an awards program from Indiana University's Kelley School of Business and was honored for financial results well in excess of the revenue required for eligibility. The Indianapolis Business Journal also ranked pan as the fastest growing private company in the Indianapolis area.

About The Ernst & Young Entrepreneur Of The Year® Program

The Ernst & Young Entrepreneur Of The Year Program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur Of The Year Award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.

About Ernst & Young

Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 106,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at http://www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.

About pan

Performance Assessment Network, Inc. (pan) is the leading provider of Internet-based testing and assessment solutions, with over 12,000 corporate, government, and education users internationally. pan administers millions of tests, assessments, and surveys annually. Closely held pan is based in Carmel, Ind. For more information, visit www.panpowered.com.