For Immediate Release

Bluefire Security Named Most Promising Company at Security Venture Fair Conference

Baltimore, MD February 24, 2004 — Bluefire Security Technologies today announced that it was designated one of five "Most Promising Companies" at the recently held Security Venture Fair conference. More than 200 enterprise security investment professionals and entrepreneurs selected Bluefire Security out of a field of more than 70 leading security companies.

"It is an honor to be selected as a Most Promising Company by our industry peers and the investment community," said Mark Komisky, CEO of Bluefire Security Technologies. "This distinction further validates our progress in providing mobile security solutions that help our customers safely take advantage of the many benefits of handheld computing."

The Security Venture Fair conference, organized by Infocast, provided a venue for more than 70 of the most promising enterprise security companies to present their business plans to an investment community audience. At the conclusion of the conference, attendees selected Bluefire Security as a Most Promising Company based on its innovative handheld security solution and go-to-market strategy.

Bluefire Security’s flagship product, Bluefire Mobile Firewall Plus, is uniquely designed to secure both handheld devices and the enterprise networks to which they connect. Its rules-based personal firewall engine resides on the device, is easy to configure and customize, and protects against multiple attacks. In addition, the solution provides real-time logging and alerting of all device-level security events, which allow administrators and end-users to detect intrusions and identify attack methods for quick and effective problem isolation.