Rainbow iVEA’s CryptoSwift 600 Capture’s Network Computing Magazine’s “Well Connected Award” for Best SSL Accelerator at Networld+Interop

Industry’s Leading eCommerce Acceleration Product Captures Prestigious Award at Networking Industry’s Largest Trade Show

LAS VEGAS, May 8, 2001 — Rainbow iVEA, a Rainbow Technologies (Nasdaq: RNBO) company and a leading provider of high-performance security solutions for the Internet and eCommerce, today announced that the CryptoSwift 600 eCommerce accelerator captured a Well Connected Award by Network Computing Magazine at the Spring 2001 Networld+Interop Conference in Las Vegas. The CryptoSwift 600 defeated the nCipher nForce 300 and the Compaq AXL2000 Accelerator PCI Card for “Best SSL Acceleration Solution.”

The 2001 Awards ceremony marks the seventh straight year for the “Well Connected Awards,” one of the highlights of the annual Spring Networld+Interop show, the networking industry’s largest trade show.

“Fast and secure online transactions are critical for successful B2B or B2C eCommerce,” said Fritz Nelson, vice president and publisher, Network Computing Magazine. “SSL accelerators are rapidly becoming a requirement for eCommerce servers to enhance performance and provide for secure transactions. Our editors have tested the best enterprise products the industry has to offer first hand. We’ve found the CryptoSwift 600 to be an effective and proven solution for fast and secure eCommerce transactions. We are pleased to present Rainbow iVEA with the Well Connected Award for ‘Best SSL Acceleration Solution’.”

“We are delighted to have the CryptoSwift 600 recognized by the editors of Network Computing for the Well Connected Award,” said Shawn Abbott, president, Rainbow iVEA. “This prestigious award acknowledges CryptoSwift as a mainstream product for the networking industry. It validates CryptoSwift as the industry’s de facto standard for secure network performance. This is the industry’s most trusted and broadly adopted solution for eCommerce acceleration for Web servers and network appliances. We are thrilled with the recognition of this product’s stature by the industry’s leading networking publication.”

Rainbow iVEA’s eCommerce performance and security acceleration technology is the industry’s leading solution for cryptographic acceleration, providing fast and secure transactions over the Internet while dramatically reducing Web server and network appliance response time. The CryptoSwift family of eCommerce acceleration solutions accelerates the public-key cryptographic functions of popular security protocols such as SSL/TLS, WAP/WTLS, S/MIME, IKE/IPSec and others. This proven technology, first developed by Rainbow iVEA, improves server response time for secure connections by freeing the Web servers and network appliances to perform other tasks, especially during peak load and heavy traffic periods.

About Network Computing

Network Computing (http://www.networkcomputing.com), published by CMP Media, Manhasset, N.Y., is the only IT publication providing in-depth, comprehensive product, technology and service reviews from a real-world perspective to 220,000 IT Professionals – The Technology Experts – biweekly telling them what works, how it works, when to buy and who to buy it from. In addition, Network Computing consistently has the largest average-issue audience among all networking publications, according to Simmons and IntelliQuest and the publication was a 1999 Neal Award Finalist.

About Rainbow iVEA

Rainbow iVEA, a Rainbow Technologies, Inc. (Nasdaq: RNBO) company, is a leading provider of high-performance Internet security solutions for eCommerce servers and network equipment. Rainbow iVEA’s cryptographic acceleration solutions are used by major OEM Web server companies and load balancing appliance vendors in addition to customers in industries such as eBusiness, banking and financial services, technology communications, healthcare, higher education and government.

Founded in 2001 as a company of Rainbow Technologies, Rainbow iVEA is headquartered in Irvine, California with offices throughout Europe and Asia. Rainbow iVEA also employs a strong network of leading distributors that sell the company’s products worldwide. For more information, call toll-free at 1-877-274-4832.

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iVEA Technologies, Rainbow Technologies and CryptoSwift are trademarks of Rainbow Technologies. All other product and company names are trademarks of their respective organizations.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in our Annual Report on Form 10-K and other materials filed with the Securities and Exchange Commission (“SEC”) (as well as information included in oral statements or other written statements made or to be made by the Company) contain statements relating to the following: dependence upon existing and new product offerings, competition, intellectual property and licensing, future growth, rapid technological and market change, manufacturing and sourcing risks, Internet infrastructure and regulation, the inclusion of network security functionality in hardware or system software, international operations, among others. These conditions involve important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. The Company assumes no obligation to update information concerning its expectations.

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