Passageways Ranks in Inc. Magazine's Annual Inc. 500 List for 2008

West Lafayette, IN. August 20th, 2008 - Passageways, a West Lafayette, Ind.-based portal solutions provider for financial institutions, has claimed high rankings - No. 453 overall, and an impressive No. 27 in the top 100 software companies in the list of America's fastest growing private companies. Passageways is also the second fastest growing software company in Indiana, as per these rankings. The ranking was released on Inc.com and is scheduled to be published in Inc magazine's September issue, which hits newsstands next week.

Passageways offers employee and board portal solutions to financial institutions and has 150 employee portal clients and over 30 board portal clients. The company recorded an impressive 697.1% growth in the last 4 years landing it in elite company on the Inc. 500 list where Microsoft, Oracle, Timberland, Jamba Juice, Gateway, E*Trade and Intuit have all been listed before they became true power houses.

The Inc. 500 is an elite group - a mere sliver of the more than seven million private companies in the U.S. that have employees. Only the top 10 percent from the bigger Inc. 5000 list are being featured in Inc. magazine. Inc. magazine rank companies according to the percentage growth of their revenue from last 4 years.

"For us, the list is formal recognition of our success in growing our business. It's also great for us to have a benchmark, allowing us to compare our growth to others (by rankings), and to have an objective organization that canvases the marketplace and shows us what other growing private companies are up to. In general, we're proud to be officially recognized as one of the country's fastest-growing private companies by such a credible source", say Bill Connors, the CEO of Passageways.

"A listing on the Inc. 500 showcases how more companies are realizing that our products help with their broad IT challenges," said Gail Koehler, President of Passageways. "This growth is the result of a strong team, solid technology and listening and responding to customer needs."

"We're excited to be recognized on the Inc. 500 list, as it is a tremendous validation of the innovation and commitment to customer service of the Passageways team. We would like to share this spotlight with our employees, customers and partners" said Christopher Beltran, Co-Founder/ VP.

Passageways was conceived in late 2001 at Purdue University amidst the dotcom bubble burst. The two Co-Founders found an angel investor in Purdue Employees Federal Credit Union and the team has never looked back since then.

"We've experienced significant growth over the past few years and are on track to continue that trend moving forward. Of course making this list is an honor, yet the most impressive aspect about Passageways is the strong profitable growth we have achieved", says Paroon Chadha, Co-Founder/VP.