SOURCE: Nicaragua Rising, Inc.

March 02, 2010 08:50 ET

Ceelox, Inc. Report Reveals Current Security Methods Ineffective in Protecting Personal Data, Equating to Billions Lost

TAMPA, FL--(Marketwire - March 2, 2010) - Ceelox, Inc. ("Ceelox"), a biometric software security company offering identity authentication and data and email encryption, announces an independent study performed by Frost and Sullivan. Ceelox is a majority-owned operating subsidiary of Nicaragua Rising, Inc. (OTCBB: NCRG) ("the Company" or "Nicaragua").

Ceelox recently released an independent study performed by Frost and Sullivan that examines the need for identity and data security, the use of biometrics in the market space, and the solution fit provided by the Ceelox products: Ceelox ID®, Ceelox Vault™, and Ceelox SecureMail™.

The report "Biometric Solutions in Computing Devices," authored by Frost and Sullivan, found that as fraudsters become more daring and manipulative, this creates an over-reliance on static passwords, tokens, and other authentication solutions that lead to increasing breaches in network security. The result is that organizations and individuals are left open to identity theft and financial fraud. Fraudsters use simple computer techniques to capture personal information such as passwords and social security numbers to gain access to organization servers and personal accounts, and to deny, steal, and/or alter proprietary or private information. As the potential financial gain from these thefts continues to increase, more criminals are focusing on these areas. Over the past five years, the number of devices that need protection has also grown exponentially.

Likewise, due to the increasingly important information being stored on public and private servers, the cost of insuring against loss is growing exponentially. Data breaches cost enterprises over $25B in 2007 alone. As a result, the identification authentication market is progressing as individuals and organizations are looking to protect their information and their clients. The user name and password approach is completely ineffective and challenge-words and phrases frustrate most customers.

Thus, a highly secure, more economical, easy-to-use replacement is needed. The alternative approach to improving security is the use of biometrics as a means to authenticate identity. Biometrics provides users increased security because it is harder to steal identity protected by a person's characteristics such as a fingerprint, increases flexibility, and provides economical solutions that appeal to consumers, businesses, and IT professionals.

In their review, Frost and Sullivan found that Ceelox products provide unique value using biometrics to secure access to computing devices, networks, communications, and data. The Company's solutions have advantages over other authentication methods currently in use, including better economics, stronger access control security, and ease of use and management. Frost and Sullivan concluded that Ceelox' patent pending approaches provide consumers, businesses, and IT departments with a cost-effective alternative to securing their data and intellectual property across the network. This yields peace of mind when accessing personal or company information, via a network or the Internet, for day-to-day functions like e-commerce and online banking.

The Ceelox 'Biometric Solutions in Computing Devices' report is available for download at www.ceelox.com.

About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan has over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com.

About Nicaragua Rising, Inc.
Nicaragua Rising, Inc., through its majority-owned operating subsidiary, Ceelox, Inc., is a developer of biometric security and encryption software solutions for financial institutions, healthcare companies, utilities, government agencies and other organizations for whom information access are key concerns. Its security and encryption tools are easy to deploy, simple to use, cost-effective and affordable for organizations of all sizes. 

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure outlined in our Form 8-K filed with the Securities and Exchange Commission on February 12, 2010 and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

For more information visit our website at www.ceelox.com

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