Static Press Releases converted to Dynamic list

Hi,

This seems like a simple thing to have Wordpress do but it is escaping me.

This site was converted from another system and I ended up with the press releases on a "WP->Pages" page. This is not a very good way to do it. http://www.magnatimesharesoftware.com/press-release/

I have added Posts for each press release and they show here:
http://www.magnatimesharesoftware.com/category/press-releases/

But the first URL without the categories is what is indexed on the search engines.

What I want the primary URL to show is a left pane with an index of Releases with the headline, date, and 3 lines of the release and the right main pane to have the full article.

I guess thats two questions:

1.) getting that indexed URL to perform like the second URL
2.) Reformatting the list as described.