SOURCE: Safend

June 14, 2007 14:01 ET

Safend Takes First Prize in IVA/Red Herring Competition

TEL AVIV, ISRAEL and PHILADELPHIA, PA--(Marketwire - June 14, 2007) - Safend, an international provider of corporate endpoint information leakage prevention (ILP) solutions, announced today that it was selected by Red Herring magazine as the most promising Software and Internet start-up in Israel for 2007. According to the Israel Venture Capital Association (IVA) co-chairman, Eli Barket, the focus of this year's competition was to identify companies with significant growth potential.

The contest, co-hosted by Red Herring magazine and the IVA, recognizes the most promising Israeli start-up companies and bestows awards based on each organization's vision, technological achievements and market leadership. Independent judges evaluated more than 60 entrants and announced the winners at the IVA's annual meeting in Tel Aviv. Safend was one of 9 companies in the final round of the competition and pushed past two other finalists in the Software and Internet category to win first prize.

Alex Vieux, publisher of Red Herring magazine, said: "Israeli companies prove once again that they are certainly capable of competing in the global market. They stand out not only in innovation and in developing intellectual capital but also in their business models and implementation abilities. It's a good sign for the next generation of entrepreneurs."

Safend is backed by Elron Electronics (NASDAQ: ELRN) (TELAVIV: ELRN), Intel Capital, and Walden Israel. Safend's software solutions, Safend Auditor and Safend Protector, secure the data hosted on enterprise PCs and laptops by monitoring and controlling access to detachable storage devices, network adaptors and wireless networks. Safend's products have evolved to not only provide device control but also offer encryption features, file type control, hardware keylogger protection, and offline tracking of corporate data residing on USB storage devices. Safend currently services more than 500 enterprise clients worldwide.

"We're extremely honored to receive this award," said Safend's CEO, Gil Sever. "We appreciate the IVA's continued support as our company matures in the marketplace and being recognized by Red Herring is further validation that we're on the right track for establishing ourselves as a leading endpoint ILP solution provider."

ABOUT SAFEND

Safend is a leading provider of endpoint Information Leakage Prevention solutions that protect against corporate data loss and theft via detachable storage, removable media and wireless network connections. Safend solutions also facilitate the enforcement of regulatory compliance requirements such as SOX, HIPAA, PCI and Basel II. Safend's award-winning products, available internationally through resellers, are deployed by financial institutions, healthcare organizations, and government agencies as well as large enterprises and small to mid-size companies worldwide. Safend is a privately held company founded in 2003, and is headquartered in Tel Aviv with offices in Philadelphia. For more information, visit www.safend.com.

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