San Jose, Calif. – August 29, 2006 - ClearSpeed Technology (LSE:CSD), the leader in double precision performance per watt acceleration technology, today announced that Stephen McKinnon has joined the company as chief operating officer. A seasoned veteran with over 25 years experience in the semiconductor industry, McKinnon is responsible for leading the continuation of the build out of the Customer Facing Organization which includes sales, business development, outbound marketing, and technical customer support and solutions. Having worked in world wide capacities for blue chip companies, McKinnon was most recently Intel’s Director of World Wide Solution Sales, where he successfully created the foundation and drove the expansion of the sales organization in support of Intel's emerging corporate platform strategy.

“Stephen brings highly relevant experience as we increase our customer focus and build out our capability,” said Tom Beese, ClearSpeed chief executive officer. “We are very pleased to have recruited such a talented executive during this time of significant growth.”

As the leader in double precision performance per watt acceleration technology, ClearSpeed is focused on building upon its technology achievements to deliver complete solutions for existing and future customers and partners. With its base in San Jose, the Customer Facing Organization is strategically positioned to reach out to and support the customer and partner base from the heart of the Silicon Valley.

“ClearSpeed has a unique combination of fundamental technology differentiation together with a clear and sustainable business proposition,” said Stephen Mckinnon, ClearSpeed chief operating officer. “With such a robust corporate foundation to build on, it’s exciting to join such a talented team focused on delivering complete solutions to our target market.”