December 22, 2004 - Rainer Paduch joins Recognia as Chairman of the Board

Rainer Paduch, a local Ottawa investor and serial entrepreneur, joined Recognia Inc. today as Chairman of the Board.

Rainer Paduch has a proven and successful track record as a serial entrepreneur, leader and manager. Rainer has 25 years of in-depth business management and team building experience as well as expertise in software design, telecommunications and data networking. Rainer is currently a local Ottawa angel investor, founder of the Band of Scoundrels investment partnership, Chairman of start-up Pinpoint Selling as well as serving on the Advisory Board of the Entrepreneurship Center of Ottawa Centre for Research and Innovation (OCRI).

Rainer was most recently a venture partner at Novacap, a Montreal based venture capital firm investing in early stage technology start-ups and later stage operating companies. Prior to that he was also a co-founder of Coventus Inc, a service provider developing offerings for the business traveler while on the road or in conference centers and hotels.

Rainer was the founder of iSTAR Internet Inc. where he served as President, Chief Technology Officer and Vice Chairman. He successfully led iSTAR from start-up to rapid growth and through IPO. Under his leadership and technical expertise, company sales rose to a $40 million annual rate. He also led a team that raised $76 million during the early development stages of the company. In February 1998, PSINet Inc. acquired iSTAR. He was also an investor in and a Director of Milkyway Networks, another Ottawa based start-up that achieved a successful IPO.

Over the course of his career, Rainer has held senior-level positions including Vice President of Technology at fONOROLA Inc., Director Application Engineering at Newbridge Networks Corp. and co-founder and Vice President Engineering at Enfin Technologies Inc. Rainer held technical positions at Mitel Corp., EDS-Systemhouse Ltd., and Canadian Marconi Ltd. He holds an Honors Bachelor of Engineering and a Masters of Engineering from McGill University in Montreal.

About Recognia Inc.

Recognia Inc., a privately held company founded in 2000, provides automated Technical Event® identification and chart pattern recognition to financial web sites, online brokerages and other trading institutions. Recognia has developed patented technology for chart pattern recognition and the identification of other types of technical formations. Recognia's technology is capable of recognizing patterns and other formations in the price charts of any publicly traded financial instrument including stocks, bonds, funds, commodities, currencies and indexes. Recognia also provides a range of delivery methods that allow brokers, and other organizations, to deliver this information to their clients and accountholders. Recognia also maintains an unrivaled historical database of information relating to chart patterns and other technical information, providing historical context and past performance information.

Contacts:

Rick Escher
President & Founder
Recognia Inc.
Ottawa, ON
(613) 789-2267 ext 225
rescher@recognia.com