GLOBAL SECURITY RISK MANAGEMENT CONSULTING AND MANAGED SOLUTIONS COMPANY LAUNCHED

SiegeWorks International comprehensive risk management offerings to revolutionize security consulting

Sydney 11 May, 2005 - Organisations worldwide will benefit from the expertise of one of the world's leading security risk management firms following the formation of Siegeworks International.

SiegeWorks International today announced its launch as a global security and risk management consulting and managed services organisation with operations in eight countries.

The new company, co-headquartered in Japan and the US, is a partnership between leading global enterprise security services, consulting and integration firm SiegeWorks USA, and Japan-based organisation Phi Corporation.

It will leverage the security risk management expertise built by SiegeWorksUSA in North America and delivered to more than 500 global 2000 clients over the past five years.

The formation of the company comes as risk management needs worldwide are being transformed, with businesses increasingly operating in a volatile environment characterized by greater internal and external threats, increased compliance obligations, growing mobile and wireless workforces, and the rise of network-savvy partners and customers.

SiegeWorks International's comprehensive and unique suite of services dramatically reduces security risk and facilitates business and regulatory compliance, without hampering an organisation's ability to retain and enhance business agility in an increasingly complex, competitive global marketplace.

According to a Yankee group report from November 2004, 'Risk Management is security's missing link. Security risk management transforms security into a business process, embedded in every aspect of an organisation's operations. It is evolving from 'misunderstood' to that of a 'measurable return on investment'.

SiegeWorks International approaches risk management in partnership with customers as a unified, comprehensive, proactive and continuous business process. Its Risk Maturity Model is unique in the industry, containing more than 30 risk domains and incorporating best-of-industry frameworks and methodologies. This model drives all SiegeWorks International offerings, which serve as building blocks for a comprehensive risk management program.

The launch of the company will meet a growing demand from enterprises facing unique and complex challenges that make the need to continuously and accurately benchmark and manage risk exposure at all levels of the organisation paramount.

'There is a gap in the market now between those who consult only and those who provide remote management of devices. There is a wide range of demand in between from companies who need to address risk management but are overwhelmed by it,' Siegeworks International Chief Executive Officer Raj Raghavan said.

'We will fill that gap by working at all levels of an organisation to provide the infrastructure support companies crave while they ramp up the risk maturity curve.'

Siegeworks International has positioned itself to capitalize on this emerging security landscape, in which organisations are seeking comprehensive risk and vulnerability management including consulting and managed solutions based on international standards and best practices.

'The gap in the market for a comprehensive approach to risk management, combined with SiegeWorks USA's impressive track record as a security risk management consultant and services provider, made the decision to become a partner easy', Phi Corporation Chairman Mr. Nobuya Yoshida said.

'It was a very compelling investment opportunity in an emerging market with significant room to grow based on demand for the comprehensive range of well-implemented services SiegeWorks International offers.'

SiegeWorks International is led by a management team with significant industry experience and expertise. Key executives include:

Chief Executive Officer Mr. Raj Raghavan, who joins from his role as Vice-President, Global Services at Siegeworks USA, where he was instrumental in growing the company's Security Services Group domestically and globally.
Chief Technology Officer Ms. Terumi Lakowsky, who spent several years as Vice-President of Engineering for SiegeWorks USA's Japan operations as well as Director, New Horizons CLC Japan, Director of Navy Technology Programs, Mutual Defense Assistance Office, US Embassy, Tokyo, and Director of Technology, Swiss Bank Corporation.

Chief Financial Officer Ms. Reiko Kikuchi, who brings 14 years of experience working in the finance field for various multi-national companies located in Japan. She has served as a senior accountant for DHL Japan, Inc. and Intuit K.K. Givaudan Roure K.K. and Perfums Giveny K.K. (LVMH Group), and Mitsubishi Rayon Co., Ltd. in various finance roles.

Vice-President Sales Mr. Kevin Gardiner, who has more than 18 years sales and channel management expertise in the Asia Pacific region in roles including sales director and managing director at MES, Australia's leading Business Intelligence Software, Agilent technologies Communications Solutions Group and Nilsen Technologies.

Vice-President, Product Marketing Ms. Yo Delmar, who brings more than 30 years experience in the IT industry, including 20 years in regional, national and international executive roles, such as President of system integration and product company SPL WorldGroup Consulting, and Vice-President, Marketing and Business Development at enterprise security risk management company Skybox Security.

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