Lucid Security Names Jonathan Palmer President, CEO

PHILADELPHIA, Sept. 8, 2004—Lucid Security, the leading innovator of intrusion prevention software, today announced that Jonathan Palmer, a veteran IT and financial services industry executive, has joined the company as its President and Chief Executive Officer. Palmer, 61, has assumed responsibility for all company operations and for leading Lucid’s efforts to build on its already strong position in the Intrusion Prevention software industry. Palmer replaces Stanley Jester, an original Lucid investor, who will continue to serve as the company’s CFO and as a member of Lucid’s board of directors.

“I am enthusiastic about Lucid,” Palmer stated. “Lucid’s unique and highly effective system for identifying and preventing malicious attacks, for which Lucid has applied for several patents, sets Lucid apart from all others in its industry. I look forward to helping Lucid continue to understand and meet our customers’ evolving information and network security needs, and to helping Lucid achieve even greater success.”

Palmer joins Lucid after having served for five years as CEO of Vital Processing Services in Tempe, Ariz., one of the nation’s leading electronic payment services providers. Prior to Vital, Palmer was CEO of Wellspring Resources, a Jacksonville, Fla.-based employee benefits administration outsourcing company. Both of these companies achieved new and higher levels of success under Palmer’s leadership.

Earlier in his career, Palmer served as vice chairman of Fidelity Bank in Philadelphia, as executive vice president of Shearson Lehman Brothers in New York City, and as chief retail banking and technology executive of Barnett Banks in Jacksonville, Fla.

A native of Philadelphia, Palmer holds an undergraduate degree in applied mathematics from LaSalle University and an MBA from the Wharton School of Business at the University of Pennsylvania.

“Jon’s outstanding track record of leadership has helped catapult organizations to record revenue generation and makes him uniquely qualified to grow Lucid Security’s market share in the Intrusion Prevention space,” said Lucid Security Founder and Chief Technology Officer Vik Phatak. “We welcome Jon back to Philadelphia and look forward to succeeding under his leadership.”

About Lucid Security, Inc.

Lucid Security is the leading innovator of Intrusion Prevention software technology. Based in Ambler, Pa., Lucid’s ipANGELâ„? software last year was voted Best Emerging Technology by the editors of Information Security Magazine. ipANGELâ„? is the industry’s first real-time Adaptive Intelligence intrusion prevention system. Adaptive Intelligenceâ„? integrates vulnerability assessment and intrusion detection technologies to create a real-time, self-tuning intrusion prevention software solution designed to drastically increase security and eliminate the time required for maintenance. To learn more visit www.lucidsecurity.com.




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