Application Security Inc. Appoints Security Veteran as VP of Sales

Market Wire, July, 2004

Application Security Inc. (www.appsecinc.com), the leading provider of proactive database security solutions, announced today the appointment of Sean Price as Vice President of Worldwide Sales. Price brings a proven track record in revenue generation and strategic partnership development to the AppSecInc management team. In his new role as Vice President of Worldwide Sales, Price will be responsible for driving revenue growth and strategic business development for the company.

"Sean is a high caliber sales executive with the experience to expand AppSecInc's leadership role in the security marketplace," said Jack Hembrough, president and chief executive officer at AppSecInc. "Consistently focused on delivering value to customers, partners and stakeholders, Sean has a successful track record in driving measurable growth for firms solving tough security problems."

Prior to joining AppSecInc, Price spent more than seven years leading the sales and business development organizations at SafeNet Inc. He drove the company's worldwide effort to attract large enterprise customers and strategic OEM partnerships that ultimately gained SafeNet its market leadership position. Price developed strategic relationships with Cisco Systems, Texas Instruments, Microsoft, many US Government Agencies, and most of the world's largest financial institutions. He also played an instrumental role in corporate development and actively participated in executing the company's acquisition strategy.

Over the past 20 years, Price has established an accomplished career in networking and security. Before joining SafeNet, he held executive sales positions at Nuera Communications Inc. There he led the effort to expand the firm's market share for voice over frame relay and voice over IP. Earlier networking credentials were earned at Network Equipment Technologies and Paine Webber Inc.

"The industry is quickly learning that perimeter-based security is no longer enough to protect the corporate assets necessary to run competitive businesses," said Price. "AppSecInc has developed a valuable security suite that allows organizations to truly protect the applications and databases that drive their revenue and protect efficient operations. This company is clearly poised for strong revenue growth and market expansion."

About Application Security, Inc.

AppSecInc is the leading provider of database security solutions for the enterprise. AppSecInc products proactively secure enterprise applications at more than 200 organizations around the world by discovering, assessing, and protecting the database against rapidly changing security threats. By securing data at its source, we enable organizations to more confidently extend their business with customers, partners and suppliers. Our security experts, combined with our strong support team, deliver up-to-date application safeguards that minimize risk and eliminate its impact on business. Please contact us at 1-866-927-7732 to learn more, or visit us on the web at www.appsecinc.com.

AppSecInc is a trademark of Application Security, Inc. All other company and product names are trademarks of their respective companies.

Media Contacts: Cheryl Salatino salatino@collaborative.com (617) 357-7736 Megan Harrigan mharrigan@appsecinc.com (781) 276-4508