Corero Network Regulatory News (CNS)

18 October 2012

Corero Network Security plc (AIM: CNS)

("Corero" or the "Group")

Customer Wins

Corero Network Security plc, the AIM listed network security and business software provider, is pleased to report progress by both the Corero Network Security and Corero Business Systems divisions in securing new customers and contract renewals post the end of the six month period to 30 June 2012.

Corero Network Security ("CNS")

Whilst continuing to secure new customers and expand customer footprint within its core verticals, CNS is pleased to have received a renewal of an annual support contract worth $400,000 from a long standing customer, a leading international energy company, and a 12 month service contract for an upgrade to its premium SecureWatch PLUS service from an existing financial services customer worth $190,000.

The SecureWatch PLUS service was launched during the second half of 2011 and offers customers expert Distributed Denial of Service ("DDoS") defence services which include organization-specific implementation, round-the-clock monitoring and immediate and effective response in the event of a DDoS attack.

CNS continues to invest in the development of its core intellectual property suite and is already gaining customer acceptance for its pioneering cybersecurity solutions. Furthermore, the repositioning of CNS's core offering as a First Line of Defence, which was launched in September 2012, has been well received by partners as a compelling and highly differentiated offering. As evidence of this traction, two of CNS' reseller partners have commented as follows:

 "Corero's First Line of Defence is a truly differentiated security offering which we are taking to our customers whose existing security solutions cannot protect against Denial of Service attacks which are growing in frequency and intensity. Corero's First Line of Defence eradicates DDoS and server targeted malicious attack activity by filtering and removing attack traffic before it hits the network, and as a result legitimate, revenue generating customer traffic is not slowed down or blocked. This allows the entire IT infrastructure to operate more efficiently, optimizing the performance of security devices, network applications and servers, and ensures business continuity." Mark Miller, Partner at M&S Technologies, a US based security integrator.

"We had a high-profile Wall Street firm that was under constant DDoS attack with more than 10,000 attackers at one point hitting them from almost every country in the world, overtaxing their firewall and bringing their sites to a standstill. None of their clients were able to access any of their websites. They were, to say the least, not happy. Though the firewall vendor had claimed to offer DDoS protection we quickly learned that this was not the case. We needed something that was specifically designed to handle this type of traffic. The Corero First Line of Defense product was installed and within hours the attacks were mitigated and the site performance returned to normal." Colin Ryan, General Manager of Dynamic Business Systems, a New York based network infrastructure service provider.

Corero Business Systems ("CBS")

CBS has continued its success in growing its Academy customers bringing the total number of Academy customers to almost 500, as compared to 300 at the comparative date last year.

CBS's Resource Financials product was recently announced as the winner of The UK Business Software Industry Software Satisfaction Awards 2012 ("SSA12") in the category of Accounting & Finance (corporate). Winning this award is particularly pleasing as the Software Satisfaction Awards are unique in being decided by genuine end-user views and therefore represents a great endorsement of the Corero Resource Financials product and the first class consulting and support provided to CBS's customers. The 2012 survey was completed through an eight week long customer survey of over 10,000 organisations, which represented a wide cross-section of businesses, from sole traders and SMEs through to government and corporate bodies.

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About Corero Network Security

Corero Network Security plc consists of two businesses: Corero Network Security and Corero Business Systems.

Corero Network Security is an international network security company and the leading provider of Distributed Denial of Service (DDoS) defence and Next Generation Intrusion Prevention Systems (NGIPS) solutions. As the First Line of Defense, Corero's products and services stop DDoS attacks, protect IT infrastructure and eliminate downtime. Customers include enterprises, service providers and government organizations worldwide. Corero's appliance-based solutions are dynamic and automatically respond to evolving cyber attacks, known and unknown, allowing existing IT infrastructure -- such as firewalls -- to perform their intended purposes. Corero's products are transparent, highly scalable and feature the lowest latency and highest reliability in the industry.

Corero Business Systems is a leading provider of powerful and dynamic modular accounting, human resources, payroll and management information software to the schools (including academies) and further education sectors in the UK and internationally.