VirnetX's Chairman Calls for Fundamental Security Solutions to Thwart Cyber Attacks

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Apr 08, 2010, 07:30 ET

SCOTTS VALLEY, Calif., April 8 /PRNewswire-FirstCall/ -- "Cyber attacks are becoming a global pandemic with no computer system immune. Internet infrastructure and computers' operating systems must be secured in new and fundamental ways with high-level security solutions that include new sophisticated secure communications technology," stated Kendall Larsen, Chairman, President, and CEO of VirnetX Holding Corporation (NYSE Amex: VHC; www.virnetx.com), a California-based Internet security software and technology company.

"The Internet's overwhelming adoption for commerce and system control over the years has attracted an increasingly sophisticated cyber criminal. The threats that are being posed to organizations and governments are increasing faster than potential victims and IT professionals can cope with them," said Larsen.

"The Internet must morph into a network that has security at its core. This must be achieved seamlessly so the world transitions into next generation 4G/Long Term Evolution (LTE) wireless networks without adversely impacting the Internet capability we currently have," said Larsen. "Over the next decade the growth of the Internet will be focused on 4G/LTE Internet/mobile devices. All 4G mobile devices will require their own individual secure domain name and become a part of a secure domain registry to achieve automatic, seamless security," he said.

According to Larsen, this 4G technology evolution will deliver a comprehensive IP-based wireless broadband solution where voice, data and streamlined multimedia are provided to users on an "anytime, anywhere" basis, and at a much higher throughput than previously possible. "By having a wireless system that is always connected at high speeds, Internet terminals will be capable of updating applications on their own. But without such systems having the appropriate embedded seamless security solutions, cyber criminals will find new ways to get malicious software onto those computers," he said.

Larsen explained VirnetX has developed a security solution for 4G wireless networks using its patented technology that can be embedded into 4G devices. The technology secures communications over the Internet using, among other things, Secure Domain Names issued by its proprietary Secure Domain Name Registry. This technology, which has led to 48 patents and other pending patent applications, pertains to 4G standards and can be built into network infrastructure, current operating systems or silicon chips developed for any type of Internet communications device like Smart phones, laptops or PDAs.

VirnetX's patent portfolio, developed from work done for the Central Intelligence Agency, was declared as essential for 4G security standards and provides the foundation for the company's GABRIEL Connection Technology™, its own secure peer-to-peer network, which is currently in beta for public testing. VirnetX plans to license GABRIEL software and its other patents to OEMS within the IP-telephony mobility, fixed mobile convergence and unified communications markets.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, including those under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 31, 2010.