TRICIPHER™ ADDS SEASONED TECHNOLOGY EXECUTIVE JACK MARTIN AS VICE PRESIDENT OF SALES

Multifactor Authentication Leader Recruits Former Sygate Sales Chief to
Propel TriCipher’s Rapid Growth

SAN MATEO, Calif.—Nov. 3, 2004 – TriCipher, Inc., a leading innovator of strong authentication for the real world, today announced the appointment of Jack Martin as vice president of sales. Martin, a seasoned executive with more than 25 years of enterprise hardware and software experience, brings to TriCipher a proven track record of expediting the growth of both start-up and large public companies. As vice president of sales, Martin will be responsible for accelerating TriCipher’s rapid growth supporting financial services firms’ online fraud prevention and FFIEC compliance initiatives. TriCipher’s flagship product, the TriCipher Armored Credential System™ (TACS) is unique in its ability to allow firms to balance risk with authentication security, cost and ease of use across a wide range of user needs.

“Jack brings to TriCipher proven development, sales and operational success, with a keen understanding of how to market and sell business-critical technology to global corporations,” said Ravi Ganesan, CEO of TriCipher. “His experience growing world-class technology companies and stellar track record of creating win/win relationships with customers and partners are a perfect fit to ensure TriCipher’s continued success and rapid growth.”

Martin brings over twenty five years of networking and security experience to TriCipher. Most recently, he served as Vice President of North American Sales and Worldwide Business Development at Sygate, the recognized leader in endpoint security. Under his leadership Sygate grew sales by more than 200%, and Martin’s ability to build strong relationships with companies including Aruba, Cisco, Juniper, Microsoft, and others directly contributed to Sygate’s recent acquisition by Symantec. Prior to Sygate Jack served as Vice President of Field Operations for intrusion prevention pioneer TippingPoint Technologies, now a division of 3COM. From 1994 through 2000, Jack was at Cisco Systems where he held a number of positions of increasing responsibility in sales and field management. In a highly successful seven-year run, Jack managed sales and delivery teams that sold, cumulatively, more than $700 million. Prior to Cisco, Jack was president and CEO of Bridgeworks, where in 1993, his work redefining how manufacturers worked with their channel partners led to his being honored by Computer Reseller News as one of the top 25 power brokers in the technology industry.

“My new role at TriCipher is a great opportunity,” said Jack Martin, TriCipher’s newly appointed vice president of sales. “TriCipher has all necessary elements for success --superior products, satisfied customers and a strong market opportunity. TriCipher is extremely well positioned as it enters the next phase of its development, and I am delighted to have the opportunity to help drive its future success.”

About TriCipher, Inc.
TriCipher, Inc. provides strong authentication for the real world. The first authentication system that issues multiple types of credentials from a single infrastructure, the TriCipher Armored Credential System™ (TACS) allows for authentication strength to change in response to new threats without any infrastructure changes. Its patented technology fills the gap between authentication systems that are either not secure enough or too hard to use and deploy. TriCipher’s innovative approach to strong multi-factor authentication protects against phishing and eliminates dictionary attacks. 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. Investors in TriCipher are ArrowPath Venture Capital, Intel® Capital, Trident Capital and Wasatch Venture Partners.

Copyright 2005 TriCipher, Inc. TriCipher, Armored Credential, 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