SOURCE: Nicaragua Rising, Inc.

July 07, 2010 09:23 ET

Ceelox Providing Response to National Strategy for Trusted Identities in Cyberspace

TAMPA, FL--(Marketwire - July 7, 2010) -  Ceelox, Inc. plans on filing a response to a draft strategy, referred to as the National Strategy for Trusted Identities in Cyberspace. This strategy is in response to President Obama's Cyberspace Policy Review noting a critical national priority in securing identities in transactions and creating a trusted online environment. Ceelox' two factor identity authentication utilizing biometrics can provide the greatest deterrent to identity theft and creates a trusted national cyberspace platform. Ceelox is a majority-owned operating subsidiary of Nicaragua Rising, Inc. (OTCBB: NCRG) (the "Company" or "Nicaragua"). 

White House announces national online identity plan

Howard Schmidt, White House cybersecurity coordinator and special assistant to the president, on Friday, June 25th, unveiled a draft plan for improving online privacy and security through the use of a trusted digital identity system. The National Strategy for Trusted Identities in Cyberspace (NSTIC) seeks to improve cyberspace for all those who conduct business online. It would enable individuals to voluntarily obtain a secure credential, from public and private sector providers to authenticate themselves online when banking, accessing electronic health records, sending email and making other online transactions.

The Nation faces sophisticated threats against the sensitive and confidential data of our citizens, industries and government. The Nation's dependence on online transactions significantly increases the potential losses (financial and non-financial) associated with identity theft, fraud, intellectual property leakage, and privacy breach. Securing identities in transactions and creating a trusted online environment has become a critical national priority and the President's Cyberspace Policy Review called for development of a strategy to address this issue.

This draft strategy, referred to as the National Strategy for Trusted Identities in Cyberspace, focuses on the protection of the identity of each party to an online transaction and the identity of the underlying infrastructure that supports it. This Strategy seeks to improve cyberspace for everyone -- individuals, private sector, and governments -- who conduct business online. The White House is seeking comment on the draft strategy and plans to release a finalized version in the fall.

Ceelox' Solution

"The loss of a person's identity and the lack of Internet security is a significant and growing crisis that cripples individuals, companies, and even our own government. We applaud the development of a national strategy aimed at addressing these issues. We believe the time has arrived to introduce technology aimed at protecting a person's identity while offering a secure platform for on-line transactions promoting commerce growth. We believe that with the implementation of Ceelox ID Online, our real-time, live biometric access authentication software, a scalable public, extremely cost effective offering is possible." said Gerry Euston, Ceelox Chief Executive Officer.

Ceelox ID Online™ is a cyberspace software solution offered by Ceelox that easily and quickly integrates into personal computers as well as government, enterprise, and financial institution's systems. Ceelox ID Online™ provides an additional layer of security that can either overlay an enterprise or financial institution's existing security or be deployed as an OpenID or Federated ID solution. With two-factor authentication, anyone significantly enhances the security of their personal identification and authentication. Online transactions such as banking and wire transfer, along with maintaining personal records online, can be better protected through two factor authentication i.e. something you know, username, and something you are, your fingerprint biometric. Unlike other 2-factor authentication solutions, Ceelox ID®, biometric two-factor authentication, is integrated into the design, creating the most definitive real time authentication tool available. In addition, the Ceelox patent pending solution eliminates replay attacks, which have been the source of the recent wave of cybercrime creating a preventative medicine approach to security.

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.

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