Citadel Technology SecurePC Software Provides Defense Against New Virus Alert Identified Today That Attacks Executable Files

Software Acts as First Line of Defense, Prevents Damage From Current, Future Attacks

DALLAS, Aug. 31 /PRNewswire/ — CT Holdings, Inc., (OTC Bulletin Board: CITN), which develops and markets the Citadel Technology(TM) line of network security and privacy software, provides the first line of defense against Win32.Invalid.A@mm, a new virus identified today and reported in InfoWorld.com. The virus, circulating in disguise as a warning from Microsoft, encrypts executable files, rendering them unusable. Citadel Technology’s SecurePC(TM) software includes features that enable security administrators to harden system files to prevent changes by anyone — or any program — without authorization. A 30-day trial version of the software is available for download at http://www.citadel.com.

“Patches are re-active solutions to today’s security threats,” said Steven B. Solomon, chairman and CEO of CT Holdings. “Our software takes preventative measures by protecting system files and other features of the operating system which in effect, stops this virus — or future variants of this type — from doing damage even if already inside the firewall.”

The Code Red worm, which launched a similar attack, did $2.4 billion worth of damage by August 20, according to analysts at Computer Associates, almost of all it done after a patch was made available.

Ryan Russell, an analyst at business security firm SecurityFocus.com in San Mateo, Calif. was quoted in InfoWorld.com in today’s alert, saying the virus does pose a threat: “I think it’s just early in the cycle.” “The increasing frequency of virus and worm attacks and the escalating damage they cause demonstrates why it is critical to have protection inside the firewall,” Solomon said. “There was a patch out to fix Code Red long before most of the infections took place, and even assuming security administrators have the time and staff to install all patches promptly, at some point something will get in. SecurePC makes sure that when it does, the system is already protected.”

About Citadel Technology

CT Holdings’ Citadel Technology develops and markets computer security and privacy software for one of the fastest growing segments today — security “inside the firewall.” These products enable companies to enforce security policies from a single point of control across all Windows and NetWare platforms. Citadel Technology software secures confidential information, applications, and systems from unauthorized access, worms, and other security vulnerabilities. The products specifically enforce policies recently mandated by HIPAA and Gramm-Leach-Bliley legislation for the health care and financial industries. Citadel’s clients include IBM Global Services, Merrill Lynch, the U.S. Navy and several large health care companies. Visit our Web site at http://www.citadel.com.

About CT Holdings

CT Holdings, Inc. (OTC Bulletin Board: CITN) develops and markets its Citadel Technology line of desktop and network security software, and also acts as a developer of early stage companies, including Parago and River Logic.

For more information on CT Holdings, its Internet subsidiaries, and its Citadel Technology line of security software products, please visit our Web site at http://www.ct-holdings.com. For information on purchasing products, contact us directly by writing or calling: CT Holdings, 3811 Turtle Creek Blvd., Suite 770, Dallas, Texas 75219; phone: 214.520.9292; fax: 214.520.9293.

Forward-Looking Statements: This news release contains forward-looking statements, which involve risks and uncertainties. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Investors are also directed to consider carefully the other risk factors and uncertainties discussed in documents we file with the Securities and Exchange Commission, including our Quarterly Report on Form 10-QSB for the quarter ended June 30, 2001 and our Annual Report on Form 10-KSB for the year ended December 31, 2000. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward- looking statement made by us. These factors include the availability of capital to CT Holdings; Parago and River Logic; substantial dilution in the event CT Holdings determines not to fully participate in the Parago bridge loan participation in the event the additional payments are required; risks related to our software business line; the activities of new or existing competitors; the development of new forms of computer viruses or worms that circumvent our software; the ability to attract and retain employees and strategic partners; general economic conditions; and litigation costs. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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Citadel Technology SecurePC Software Provides Defense Against New Virus Alert Identified Today That Attacks Executable Files