The three new board members bring a demonstrated record of achievement leading software growth companies and provide exceptional information management domain expertise. Application Security, Inc. will leverage these appointments to guide company growth, capitalize on evolving market opportunities and maximize shareholder value.

George Kadifa is currently a Senior Advisor at Silver Lake. Prior to joining Silver Lake, George was Vice President of Global Delivery at IBM Global Technology Services, where he also served as General Manager of the company's Applications on Demand service. He joined IBM as part of its 2005 acquisition of Corio, Inc. where he was the Chairman and CEO. George led Corio from its start-up in 1999, through its initial public offering in 2000, and to its ultimate acquisition by IBM in 2005. Prior to Corio, George was Senior Vice President, Industrial Sector at Oracle Corporation. Additionally, he was a management consultant with Booz-Allen & Hamilton and has held positions in research and development with Xerox and Fairchild Semiconductor.

Peter McKay brings more than 25 years of experience and expert knowledge in the security, governance, risk and compliance markets. Most recently, he served as President and CEO of Watchfire, a security and compliance software company. During his six-year tenure, Peter grew the company revenue tenfold. Watchfire was acquired by IBM in 2007, and he remained at IBM as Vice President, IBM Rational Software Group until July 2008. Peter also served as President of eCredit before it was acquired by Internet Capital Group in 2001.

Paul Winn most recently served as Chairman and CEO of Princeton Softech, Inc. Under Paul's leadership Princeton Softech became the high growth leader of the emerging enterprise data management industry. Princeton Softech was acquired by IBM's Information Management division in 2007, and the company's products and solutions established the IBM Optim product line. Prior to Princeton Softech, Paul was president and CEO of PowerQuest, a private storage management software company which was acquired by Symantec in 2003. Prior to PowerQuest, Paul served as the President and CEO of Genicom, a public company focused on document imaging. Additionally, Paul spent 22 years with IBM in senior-level positions, managing several business units.

"We are pleased to add three such distinguished industry leaders to our board of directors," said John Ottman, Chief Executive Officer of Application Security, Inc. "George, Paul and Peter bring considerable experience to our team from both Fortune 500 companies as well as high-growth start ups. As our market expands and accelerates, these proven executives strengthen Application Security's position as the leading provider of cross platform database security, risk and compliance solutions."

These recent appointments to Application Security, Inc.'s Board of Directors round out the already impressive list of board members including David Furneaux, Founder and Managing General Partner of Kodiak Venture Partners; Bill Mulrow, Managing Director of Paladin Capital Group; Aaron C. Newman, co-founder of Application Security, Inc.; Andy Sessions, Managing Director of Thomas Weisel Venture Partners; and John Ottman, President and CEO of Application Security, Inc.

Contact:

Alex Wallace
Racepoint Group
awallace@racepointgroup.com
781.487.4679