SafeNet Adds to ranks

BALTIMORE -- SafeNet, Inc. (NASDAQ:SFNT), setting the standard for information security, today announced the appointment of former Securities and Exchange Commissioner J. Carter Beese Jr. to its Board of Directors and John W. Frederick as Vice President and Worldwide Controller.

J. Carter Beese Jr.

With nearly three decades of financial industry experience in both the public and private sectors, Mr. Beese brings an extraordinary level of expertise to SafeNet. He will serve on the Nominating Committee of the Board of Directors and will consult with company executives regarding corporate governance issues and the firm's day-to-day operations.

"Carter's deep knowledge of the financial world and his sense of appropriate governance procedures will be an enormous asset to SafeNet moving forward," said Anthony A. Caputo, SafeNet Chairman and CEO. "I expect his vast experience and leadership to benefit the company and for him to assist our management team on a wide range of topics and issues."

While serving as a U.S. Securities and Exchange Commissioner from 1992-1994, Mr. Beese was particularly active on corporate governance issues. He was named by U.S. District Judge Rakoff and the SEC as the trustee of the $250 million MCI stock fund to be distributed to the victims of accounting fraud, pursuant to the Fair Fund provision of the Sarbanes-Oxley Act. Mr. Beese has served as President of Riggs Capital Partners, a venture fund for which he managed more than $100 million. Previously, he was Vice Chairman of the Global Banking Group at Bankers Trust. Before the Bankers Trust/Alex. Brown merger, Mr. Beese was Chairman of Alex. Brown International. He is currently a Senior Advisor to Legacy Partners Group, which is a portfolio company of Allied Capital Corporation (NYSE:ALD).

"I am excited to join the Board of Directors of this dynamic company," said Mr. Beese. "SafeNet has more than 20 years of industry leadership and has shown itself to be a world-class firm with strong management and a strong commitment to its customers. I look forward to serving in this capacity."

John W. Frederick

As Vice President and Worldwide Controller, Mr. Frederick will oversee the firm's accounting and financial reporting functions.

"I am very pleased to have a seasoned professional of John's caliber joining SafeNet," said Carole Argo, President and CFO, SafeNet Inc. "I am confident that his leadership and expertise in various aspects of accounting and finance will greatly enhance our finance function."

SafeNet Inc. (Nasdaq: SFNT)