Utimaco Lands Anchor Financial Investor and Raises Euro 12.1 Million

Investcorp leads Euro 12.1 million raise to strengthen balance sheet and provide solid basis for growth

Oberursel, Germany, September 9, 2003 – Utimaco Safeware, a leading provider of corporate IT security solutions, today announced that it has secured Euro 12.1 million new funding, consisting of a capital increase and of a convertible bond. The transaction was led by the venture capital arm of Investcorp , the global investment group which has a 20-year track record of investing in North America and Europe.

The financial package was approved by shareholders in the extraordinary general meeting held on August 1st, 2003. The full subscription of the share capital increase by new and existing shareholders is sending a strong signal of investor confidence in Utimaco and its prospects as a leading provider of corporate IT security solutions. As part of this transaction, Hazem Ben-Gacem, a partner at Investcorp’s venture capital group, was apointed to Utimaco’s Supervisory Board.

“This is a significant milestone for Utimaco. We would like to thank our shareholders for their support throughout the restructuring, which has now formally come to an end. Utimaco today has a clean balance sheet with considerable financial resources, providing a solid basis for executing the company’s strategy for profitable growth,” said Christian Bohne, Chief Financial Officer of Utimaco Safeware AG. In the financial year ended June 2003, Utimaco delivered a balanced operating result on revenues of Euro 25.8 million.

Utimaco’s primary focus is on device security and transaction security software solutions, designed to protect companies and government bodies electronic data against unauthorized access and guaranteeing that business processes in the electronic world are binding and confidential. Utimaco has a proven track record of delivering leading-edge solutions suitable for large-scale deployments across networks with tens of thousands of users. Utimaco is enhancing its product portfolio with a focus on mobile security – protecting sensitive data stored on portable devices like notebooks and PDAs and turning them into secure, trusted operating platforms for e-business services.

“We have been impressed by Utimaco’s expertise in developing innovative IT security solutions. The new funds will allow management to accelerate product development, strengthen Utimaco’s presence in the international markets and growing IT security markets and, on a selective basis, explore potential acquisition opportunities,” said Savio Tung, a senior partner at Investcorp.

About Utimaco Safeware
Utimaco Safeware AG is one of the leading manufacturers of professional IT security solutions. The security technology and solutions developed by Utimaco Safeware protect the electronic data of companies and government bodies against unauthorized access and guarantee that business processes and administrative procedures in the electronic world are binding and confidential. www.utimaco.com

About Investcorp
Investcorp is a global investment group that has a 20-year history of private equity and venture capital investments in North America and Europe. Investcorp’s transactions to date have a value of over $25 billion. In the past five years, Investcorp has invested over $600 million in technology and telecommunication businesses. Investcorp’s existing and past technology investments include Willtek Communications GmbH, Stratus Computers, Leica Geosystems, Computacenter Ltd., Mobileway, PortalPlayer and Independent Wireless One. Investcorp’s existing private equity investments include Minimax GmbH, Gerresheimer Glas AG and Welcome Break in Europe, and Neptune Technology Group, PlayPower and Werner Co. in the U.S. www.investcorp.com




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