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Successful CEO with Proven Track Record of Building Successful Security Companies Invests In The Future of the Booming Consumer Authentication Market

San Mateo, CA., June 13, 2006 – TriCipher, Inc., the leading provider Risk Based Future Proof Authentication, today announced the appointment of John De Santis as CEO, President, and Chairman of the Board. Prior to TriCipher, De Santis was CEO, and President of endpoint security innovator Sygate Technologies, which he successfully grew to be the recognized leader in endpoint security, with more than 400 large enterprise customers worldwide, before it was acquired by Symantec in October 2005. De Santis will work closely with TriCipher founder Ravi Ganesan. Ganesan will continue to drive innovation with key strategic partners, and will also focus his energies on building out and leveraging TriCipher’s significant intellectual property, which includes ten patents licensed exclusively from Verizon Communications (which he wrote during his tenure at the company), seven patents granted to TriCipher, and several more pending. Former Executive Chairman, Sandra Bergeron will retain a director position.

“After extensive due diligence in the space, I reached the conclusion that TriCipher is positioned to be the next gold standard for strong, yet easy to deploy, authentication,” said De Santis. “The current team has built a great foundation and a robust portfolio of intellectual property with many potential applications. TriCipher’s technology, combined with the brain trust of the executive team and its strategic customer base provides all the elements required to grow the company into a trusted partner for any large enterprise doing business online that needs to protect customers, employees, and business partners against identity theft. As both CEO and a major investor in the company, I look forward to making that happen.”

John De Santis has more than 25 years of sales, marketing and general management experience in the telecommunications and information technologies fields and has held management positions with both start-ups and large international public companies. Prior to Sygate, De Santis served as senior vice president for Network Computing Devices, and also was vice president, European operations for Cincinnati Bell Information Systems (now Convergys Corporation). De Santis is an alumnus of Fairfield University, and completed the Stanford University Executive Institute Program for Management of High-Technology Companies. He also is on the board of directors for three IT security technology and service providers, Tablus Inc., Applied Identity, Inc., and KSR, Inc.

“We have been serving many of the major healthcare providers in the Pacific Northwest in a highly successful implementation of TriCipher’s proven technology for close to four years,” said Rick Rubin, CEO of OneHealthPort. “We look forward to working with John as TriCipher’s unique offering powers its aggressive growth in the healthcare vertical.”

In addition to mature deployments in the healthcare and banking sector, De Santis joins the company as leading financial services providers such as Digital Insight Corp., Metavante, P & H Solutions, and Merchant e-Solutions deploy TriCipher’s flagship product, the TriCipher Armored Credential System™ (TACS), to offer risk based multifactor authentication to more than 11 million consumers.

Only TACS provides a reusable, future proof Authentication Ladder, which provides multiple types of authentication from a single infrastructure. For the first time, organizations can map authentication strength to a user’s risk profile and the nature of the transaction, and easily migrate between authentication types in response to new threats, regulations, or changes in the business environment. Organizations integrate the TriCipher solution once, and re-use it to manage any sort of authentication as requirements change without deploying new infrastructure -- eliminating the high cost and complexity traditionally associated with strong authentication systems.

“I am extremely proud that TriCipher has built a platform which could lure one of the most sought-after Silicon Valley security company CEOs to its helm”, said Ravi Ganesan Founder and Board Member of TriCipher. “Over the course of his career, John has demonstrated thought leadership and the highest levels of customer care, listening carefully to customers and partners, and aligning their success with the success of the company. Under his leadership, Sygate built a strong global presence and successfully deployed large-scale implementations at some of the world’s largest companies and government agencies. I look forward to working closely with John and the team to cement TriCipher’s innovative products as the most practical, secure and cost-effective solutions for multi-factor authentication.”