SOURCE: Application Security, Inc.

May 24, 2006 08:30 ET

Application Security, Inc. Appoints Vice President, Finance

NEW YORK, NY -- (MARKET WIRE) -- May 24, 2006 -- Application Security, Inc. (AppSecInc) (www.appsecinc.com) today announced the appointment of former Tutor.com CFO Jacklyn A. Karceski as Vice President of Finance. Karceski has more than 20 years of finance and operations management experience with successful technology start-ups and large financial organizations. Last month the company also announced a significant strategic round of funding led by Paladin Capital Group.

"Jackie has a proven track record with high-growth companies in lucrative markets," said President and CEO Jack Hembrough. "We are confident that her addition to our management team will help us maintain our position as the market leader in database security during this period of tremendous momentum for the company."

Prior to joining AppSecInc, Karceski served as CFO and Vice President of Finance, Operations, and Corporate Strategy for Tutor.com, where she was responsible for leading their strategic management, financial planning and budgeting process, and played a pivotal role in bringing the company from pre-revenue to cash flow positive status. In previous roles, she served as CFO and Vice President of Finance and Operations for Inshop.com and Director of Financial Planning, Analysis and Sales Operations for PointCast, Inc.

"AppSecInc's award-winning product set, coupled with its recent funding round, continue to reap significant opportunities in both the government and private sectors," said Karceski. "We plan to leverage this investment to back our sales, engineering, and marketing programs, as well as redouble our efforts in addressing the rapidly growing market for database security solutions."

Karceski holds a masters degree in public policy from Harvard University, a masters in business administration from Santa Clara University, and a bachelors in economics from the University of California, Berkeley.

About Application Security, Inc. (AppSecInc)

AppSecInc is the leading provider of application security solutions for the enterprise. AppSecInc's products -- the industry's only complete vulnerability management solution for the application tier -- proactively secure database applications at more than 500 organizations around the world. By securing data at its source, our customers can more confidently extend their business with customers, partners and suppliers while meeting regulatory compliance requirements. 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.

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