iPIN adopts nCipher’s nShield for database encryption to help ensure customer privacy

Woburn, Mass. ¾September 18, 2001— nCipher?¤ plc., (LSE:NCH), a leading developer of Internet security products for e-commerce and Public Key Infrastructure (PKI) applications, today announced that iPIN, the leading provider of e-Payment technology, has selected nCipher to further manage security risks at all levels of the e-Payment value chain, including secure communications over the Internet and the encryption of critical, private information stored in secure databases. iPIN provides financial institutions, telecomm service providers, automotive OEMs, ISPs, and e-commerce merchants with modular payment software that gives customers a wide range of payment options and transaction choices over any Internet-enabled device.

As new e-commerce services are rolled out, the ability to protect critical information — such as credit card numbers, personal and corporate data and passwords — is a driving force in the success of e-Payment consumer adoption. While the use of encryption has been limited to the protection of information that is in transit, for example over the Internet, iPIN and nCipher are taking it one step further to protect the data through encryption, while the user is actually online and conducting transactions, and also at the database where information is stored for future use.

In choosing nCipher’s nShield, a tamper-resistant, FIPS 140-1 level 3 certified HSM (hardware security module), iPIN is one of the first e-Payment companies to implement this more comprehensive approach, securing the content of its informational databases and archives through the use of advanced encryption techniques and dedicated security hardware. This approach protects the cryptographic keys used to put the information out of reach to potential attackers.

“Due to increased e-commerce security threats, it is our duty as the leading e-Payment provider to ensure that our customers have the highest level of confidence that their personal information is safe,” said Chris Hagmann, director of Systems Engineering and IT Operations, iPIN. “At iPIN we believe that security technology such as nCipher’s can enable new services that would otherwise be too risky. The ability to secure our core information at the database level with nShield, accelerate and secure each transaction with nForce, and easily manage the entire security process to fit every possible customer scenario and need, allows us to scale our services and build loyal customer relationships.”

To protect information in transit to and from users connected with computer based browsers or wireless devices, iPIN chose nCipher’s nForce e-commerce accelerator. nForce provides enhanced security and high-powered SSL (Secure Sockets Layer) acceleration to overcome the security risks and excessive delays that are often associated with the use of the SSL protocol on unprotected server platforms.

“Protecting information in transit is vital to preventing transactions from being overheard but increasingly users are demanding that their information is in safe hands long after the transaction is complete,” said Stu Vaeth, director of product marketing, nCipher. “We are pleased to be working closely with iPIN as they enable a wide variety of industries to offer e-commerce and mobile payment services that meet the needs of users everywhere. By addressing security issues as they emerge, iPIN is able to bring familiar payment techniques such as pre-paid cards and cash to online transactions, making the wireless environment a natural place to do business.”

About iPIN

iPIN (www.ipin.com) is the leading provider of global e-payment technologies to financial institutions, telecommunication providers, automotive OEMs and merchants. iPIN enables its partners to offer modular payment products to support B2C, B2B and person-to-person applications in both the wireless and Web environments. iPIN enables users to easily and securely pay for Web and wireless purchases using existing financial relationships, such as bank accounts, credit cards, debit cards, ISP and wireless bills, pre-paid accounts, and cash. Customers include British Telecom, Hong Kong and Shanghai Banking Corporation Limited, France Telecom, Club Internet, and Internet Gold among others. For further information, contact in the U.S., Rhonda Motil, +1 650-272-3770, (rmotil@ipin.com), and in Europe, Marc Kawam +33 1 58 56 72 03, (marc@ipin.com), or visit the website www.ipin.com.

About nCipher

nCipher is a leading developer of Internet security products specifically designed for e-commerce and Public Key Infrastructure (PKI) applications. nCipher’s products, which incorporate both hardware and software, help its customers to solve problems of information security, systems scalability and processing speed in e-commerce and PKI applications. In addition, nCipher also offers technical support and professional services. nCipher’s products are particularly well suited to e-business users with high volumes of security-sensitive transactions, such as banking and financial institutions, e-retailers and service providers (ISP/ASPs) and Government agencies

nCipher is listed on the London Stock Exchange as a TechMARK 100 company (LSE:NCH). With offices in Cambridge, UK; Boston, New York and San Francisco, USA; Dublin, Ireland; Paris, France; and Hamburg, Germany, nCipher serves customers and partners around the world. For more information on nCipher visit our website at www.ncipher.com.

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