Cognitronics Names John Steinkrauss as Vice President, Chief Financial Officer and Treasurer

  
    
  
  
    
      Cognitronics Corporation (AMEX:CGN), a leading provider of call 
      processing technology, today announced the appointment of John 
      Steinkrauss to the positions of Vice President, Chief Financial Officer 
      and Treasurer, effective immediately. Mr. Steinkrauss succeeds Garrett 
      Sullivan. Mr. Sullivan will serve as a financial consultant to the 
      Company on an interim basis.
    
    
      Mr. Steinkrauss brings extensive financial management experience to the 
      Company. He served as Senior Vice President & CFO of IntelliReach 
      Corporation from September 2004 to July 2006, and as Vice President – 
      Finance of Stargus, Inc. from April 2004 to July 2004. He was an 
      independent consultant providing financial management services from 
      October 2002 to April 2004. From April 2002 to October 2002 he was 
      division controller of Digimarc ID Systems. Earlier in his career, he 
      served as a senior financial executive for a number of high-tech firms. 
      He is a graduate of Boston College and also holds an MBA degree from the 
      Tuck School at Dartmouth.
    
    
      “I am very pleased to welcome Jack to the 
      Cognitronics team, said Michael Mitchell, President and Chief Executive 
      Officer of Cognitronics. “Jack’s 
      extensive financial and industry experience significantly strengthens 
      our management team.”
    
    
      As a material inducement to Mr. Steinkrauss’ 
      employment, he was granted 75,000 shares of restricted common stock of 
      the Company pursuant to the exemption from stockholder approval set 
      forth in American Stock Exchange Rule 711. The restricted shares will 
      vest on the earlier of the fourth anniversary of his employment, a 
      change in control of the Company, or termination of his employment 
      without serious cause. During the restricted period, Mr. Steinkrauss 
      will have the right to vote such shares at any meeting of stockholders 
      and the right to receive all dividends paid with respect to such shares.
    
    
      ABOUT COGNITRONICS
    
    
      Cognitronics is a leading supplier of media server solutions to the 
      telecommunications industry. The CX Network Media Servers (CX Series) 
      and VSR1000 are a cost-effective and highly scalable family of carrier 
      class media server platforms, delivering advanced network media 
      solutions in VoIP networks as well as in traditional AIN and TDM circuit 
      switched environments. For more information, visit the company's website 
      at www.cognitronics.com.
    
    
      Statements contained herein which are not historical facts are 
      forward-looking statements. The forward-looking statements in this 
      release are made pursuant to the safe harbor provisions of the Private 
      Securities Litigation Reform Act of 1995. Forward-looking statements 
      involve a number of risks and uncertainties including, but not limited 
      to, the continuance of reduced capital expenditures throughout the 
      telecommunications market, variability of sales volume from quarter to 
      quarter, product demand, market acceptance, litigation, risk of 
      dependence on significant customers, third party suppliers and 
      intellectual property rights, risks in product and technology 
      development and other risk factors detailed in the company's most recent 
      Form 10-K and other Securities and Exchange Commission filings.
    
  
Cognitronics Corporation (AMEX:CGN), a leading provider of call
processing technology, today announced the appointment of John
Steinkrauss to the positions of Vice President, Chief Financial
Officer and Treasurer, effective immediately. Mr. Steinkrauss succeeds
Garrett Sullivan. Mr. Sullivan will serve as a financial consultant to
the Company on an interim basis.

   Mr. Steinkrauss brings extensive financial management experience
to the Company. He served as Senior Vice President & CFO of
IntelliReach Corporation from September 2004 to July 2006, and as Vice
President - Finance of Stargus, Inc. from April 2004 to July 2004. He
was an independent consultant providing financial management services
from October 2002 to April 2004. From April 2002 to October 2002 he
was division controller of Digimarc ID Systems. Earlier in his career,
he served as a senior financial executive for a number of high-tech
firms. He is a graduate of Boston College and also holds an MBA degree
from the Tuck School at Dartmouth.

   "I am very pleased to welcome Jack to the Cognitronics team, said
Michael Mitchell, President and Chief Executive Officer of
Cognitronics. "Jack's extensive financial and industry experience
significantly strengthens our management team."

   As a material inducement to Mr. Steinkrauss' employment, he was
granted 75,000 shares of restricted common stock of the Company
pursuant to the exemption from stockholder approval set forth in
American Stock Exchange Rule 711. The restricted shares will vest on
the earlier of the fourth anniversary of his employment, a change in
control of the Company, or termination of his employment without
serious cause. During the restricted period, Mr. Steinkrauss will have
the right to vote such shares at any meeting of stockholders and the
right to receive all dividends paid with respect to such shares.

   ABOUT COGNITRONICS

   Cognitronics is a leading supplier of media server solutions to
the telecommunications industry. The CX Network Media Servers (CX
Series) and VSR1000 are a cost-effective and highly scalable family of
carrier class media server platforms, delivering advanced network
media solutions in VoIP networks as well as in traditional AIN and TDM
circuit switched environments. For more information, visit the
company's website at www.cognitronics.com.

   Statements contained herein which are not historical facts are
forward-looking statements. The forward-looking statements in this
release are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
involve a number of risks and uncertainties including, but not limited
to, the continuance of reduced capital expenditures throughout the
telecommunications market, variability of sales volume from quarter to
quarter, product demand, market acceptance, litigation, risk of
dependence on significant customers, third party suppliers and
intellectual property rights, risks in product and technology
development and other risk factors detailed in the company's most
recent Form 10-K and other Securities and Exchange Commission filings.