iPass Reaches Settlement Agreement With Maguire Asset Management, Francis Capital Management and Foxhill Opportunity Fund - Seite 2

"I am delighted that we were able to constructively reach this Agreement with the iPass Board," said Damien Park. "As a representative of the Stockholder Group that proposed changes to the Company's Board composition and governance, we are pleased with this compromise, which we believe is in the best interests of all iPass shareholders. We look forward to working with Gary and the other iPass directors toward our common goal of enhancing shareholder value."

The complete Agreement between iPass and the Stockholder Group will be filed on a Form 8-K with the Securities and Exchange Commission (the "SEC"). iPass will file its definitive proxy statement for the Annual Meeting in due course.

About iPass Inc.
 iPass delivers global, mobile connectivity as a hosted cloud service, connecting its customers with the people and information that matter the most on all of the devices they choose to carry: smartphones, tablets and laptops. iPass (NASDAQ: IPAS) is the world's largest commercial Wi-Fi network, with 19 million hotspots in airports, hotels, airplanes and public areas spanning 100 countries across the globe. In the rapidly changing technology of Internet connectivity, iPass is the industry pioneer in ensuring businesses have unlimited access to unlimited content.

NOTE: iPass® is a registered trademark of iPass Inc. Open Mobile, OME, Open Mobile Express, Open Mobile Exchange and OMX are trademarks of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. Other company names, logos and product or service names mentioned herein are the trademarks owned by their respective owners.

About Maguire Asset Management, LLC
Maguire Asset Management is a value-oriented investment firm focused on creating long-term shareholder value by engaging constructively with managements and boards of undervalued public companies.

About Francis Capital Management, LLC
Francis Capital Management, LLC is an investment advisor based in Santa Monica, California that focuses on event-driven investments.

About Foxhill Opportunity Fund, L.P.
Foxhill, founded in 2006, is an SEC registered event driven hedge fund with particular expertise in distressed and special situations. Employing a rigorous fundamental research process, positions are established with a margin of safety to mitigate permanent impairment of capital. The focus is situation driven rather than security dependent, looking across capital structures to create positions with the best risk/reward profile. The portfolio is eclectic with many idiosyncratic investments which Foxhill expects will add value through time. Foxhill tends to focus on the undiscovered and under covered, with investments in niche situations.

Additional Information and Where to Find It
iPass intends to file with the Securities and Exchange Commission (the "SEC") and expects to mail to stockholders a proxy statement relating to the iPass 2015 Annual Meeting of Stockholders. Stockholders are urged to read the proxy statement and any related documents when they become available as they contain important information. Stockholders may obtain free copies of these documents and other documents filed with the SEC by iPass at the SEC's website at www.sec.gov. These documents can also be obtained free of charge from the iPass website at www.ipass.com.