Riptech Assists Financial Institutions in Bolstering Information Security as Gramm-Leach-Bliley Act Compliance Deadline Approaches

Business Wire, June 28, 2001

Business Editors/Banking & Hi-Tech Writers

ALEXANDRIA, Va.--(BUSINESS WIRE)--June 28, 2001

Banks, Brokerages, and Insurance Companies Turn to Riptech's(SM) Security Professional Services and Real-Time Managed Security Services

to Comply with Pending Information Security Rules

Riptech, Inc., the premier provider of scalable, real-time managed security services, is assisting financial institutions in meeting the information security requirements mandated by the Gramm-Leach-Bliley Act (GLBA) as the July 1, 2001 deadline for compliance approaches.

The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999, requires banks, credit unions, brokerage houses, investment companies, and other financial institutions to meet standards for the protection of customer personal information.

Through its Security Professional Services group, Riptech offers a full range of services integral to achieving compliance. Key offerings include internal and external network security assessments to identify threats as well as incident response and forensics capabilities to address security events and eliminate security vulnerabilities.

In addition, Riptech's real-time managed security services provide cost-effective 24x7 monitoring and management of firewalls, Virtual Private Networks (VPN), and Intrusion Detection Systems (IDS). Many financial institutions have chosen to fulfill key requirements of GLBA through the deployment of these devices coupled with monitoring and management.

"Merrick Bank attaches the highest importance to protecting customer information through measures such as those required by the Gramm-Leach-Bliley Act," said Gregori Pesci, vice president at Merrick Bank, a Utah industrial loan corporation and a top-50 issuer of Visa credit cards. "We believe Riptech's security professional services and managed security services are ideally suited to financial institutions seeking to implement the highest level of information security in accordance with the Gramm-Leach-Bliley Act."

"Information security vigilance is always a primary concern for banks and other financial services institutions," said Elad Yoran, co-founder, executive vice president and CFO at Riptech, Inc. "Riptech's extensive experience in meeting the unique requirements of the financial services industry gives us a key advantage in helping clients meet evolving security requirements, including those outlined in the Gramm-Leach-Bliley Act."

Additional information about the information security requirements outlined in the Gramm-Leach-Bliley Act is available on the Riptech web site at www.riptech.com.

About Riptech

Riptech, Inc., the premier provider of scalable, real-time managed security services, protects clients through advanced outsourced security monitoring and professional services. Riptech's unique Caltarian technology platform provides real-time information protection through around-the-clock monitoring, analysis, and response. Riptech offers the only technology capable of processing large volumes of network security data to separate security threats from false positives in real-time, with carrier-class scalability. Additionally, Riptech's Security Professional Services group provides security policy development, assessment and auditing, penetration testing, incident forensics, and response. Riptech security specialists have secured hundreds of organizations including Fortune 500 companies and federal agencies. Founded in 1998 by former Department of Defense security professionals and market experts, Riptech is headquartered in Alexandria, Virginia with offices in San Jose, California, and Philadelphia, Pennsylvania.

Riptech, the Riptech logo, Caltarian, and Real-Time Information Protection are trademarks or service marks of Riptech, Inc. Other products mentioned herein may be trademarks and/or registered trademarks of their respective owners.