Security Industry Veteran Expands Role in Developing Future Proof Risk Based Authentication Systems

SAN MATEO, Calif. —March 10, 2006 —TriCipher, Inc., a leading provider of Future Proof Risk Based Authentication Solutions, today announced the promotion of Andy Cottrell to chief technology officer. Cottrell had been vice president of research, development and operations for TriCipher since joining the company in 2005. In his new role, Cottrell will continue to oversee development of the company’s innovative authentication technology, which is based on 25 issued and pending patents. Cottrell will now be responsible for setting the company’s technology strategy, working with strategic partners and representing TriCipher in industry groups such as the Trusted Computing Group and the Anti-Phishing Working Group.

“Andy exemplifies the qualities and profile of TriCipher team members — he’s bright, industrious, intellectually curious, a team player, and has a clear understanding of what’s required to move the vision forward,” said Sandra Bergeron , executive chairman of TriCipher. “ He’s also a natural leader who has a rare ability to be equally comfortable with both highly technical people and sales and marketing organizations.”

Cottrell has more than 18 years of experience in development management and product strategy. Before joining TriCipher, he was a senior director at Phoenix Technologies, where he set direction and strategy for security products and infrastructure, defined the architecture and product roadmap, streamlined product development processes, and helped develop industry standards. Earlier in his career, Cottrell headed the Engineering Department at Uxbridge College, England. He earned a bachelor’s degree in electrical and electronic engineering from Birmingham University and a post-graduate diploma in information engineering from City University, both in England.

“Andy is a technical visionary and a gifted leader who has the expertise and drive to spearhead TriCipher’s product development strategy as the company moves forward,” said renowned security expert Gerhard Eschelbeck, CTO and s enior vice president of engineering at Webroot Software and an advisor to TriCipher. “His deep understanding of both the market and technology requirements for secure, high volume consumer products is a valuable strategic asset and will continue to contribute to TriCipher’s ongoing success.”

About TriCipher, Inc.

TriCipher, Inc. provides future proof risk based authentication. The TriCipher Armored Credential System™ (TACS) is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure. Through this flexible “authentication ladder,” TriCipher delivers future proof security — protecting its customers’ investment by enabling authentication strength to adjust in response to new threats and regulatory changes without the need to implement a new infrastructure. In addition, TriCipher delivers risk based authentication that prevents online fraud through seamless integration with fraud detection systems, secondary authentication systems, and the ability to enforce security software presence checks for malware protection. Founded in 2000, TriCipher is headquartered in San Mateo, California. The company was incubated as NSD Security before launching as a separate entity in 2005 with backing from ArrowPath Venture Capital, Intel Capital, Trident Capital, and Wasatch Venture Partners. For more information, visit www.tricipher.com.

###

TriCipher and Armored Credential System are either registered trademarks or trademarks of TriCipher, Inc. in the United States and/or other countries. All other products and services mentioned are trademarks of their respective companies

For more information, contact:

Elizabeth Safran
Trainer Communications
tc@trainercomm.com
(408) 920-0585

Sally Sheward
TriCipher, Inc.
sally@tricipher.com
(650) 372-1312