Industry Leaders Lend Expertise to the Development of Technology that will Protect Consumer Identity Data

CARY, NC —June 21, 2005—Covelight Systems, Inc., an innovator of solutions for privacy protection and fraud management, today announced the formation of an elite advisory board that will provide technical, market, and business guidance to the company. The Covelight Systems Advisory Board is made up of the following industry experts: Anton Chuvakin, Ph.D, GCIA, GCIH, GCFA, security strategist, NetForensics; David Motsinger, vice president business development, StrikeIron; Benjamin Robinson, Ph.D, president and CEO, Innovative Risk Solutions and industry expert, Jeff Williams, CEO, Aspect Security, Inc. and Ira Winkler, industry expert and author.

The advisory board is one more resource Covelight is enlisting to help protect the privacy of sensitive, confidential information in the enterprise that, when stolen, leads to aggravation, distress and hardship for all affected parties. Specifically, the board will advise and assist Covelight in the development and deployment of the company’s privacy protection and fraud management system that protects consumer identity and other confidential information from theft by comparing the key characteristics of each web-enabled authorized access against individual and collective norms to detect suspicious activity as it occurs.

Each board member is a highly distinguished and accomplished industry knowledge and practice expert. Following is a summary of each member’s credentials and experience.

Anton Chuvakin, Ph.D., GCIA, GCIH, GCFA, Security Strategist, netForensics Chuvakin's areas of information security expertise include intrusion detection, UNIX security, honeypots, etc. He is a regular presenter at security industry events sponsored by ISSA, SANS and InfraGard. Chuvakin also spoke at last year's Infosecurity event in New York City. His security expertise is well chronicled through articles in leading technology publications such as, Information Security Magazine, SecurityFocus and ComputerWorld. He is also the co-author of "Security Warrior", a revealing look at the extent of the damage a hacker can cause. Additionally, Chuvakin has made significant contributions to two other books, "Know Your Enemy, Second Edition" and "Handbook of Information Security Management."

David Motsinger, Vice President, Business Development, StrikeIron Motsinger is a co-founder and former CTO of Covelight Systems. Prior to co-founding Covelight Systems, Motsinger was President and CEO of GadgetSpace, a wireless application infrastructure software company that he co-founded in 1999 and sold to InPhonic in 2001. Motsinger was also Director of Business Development for HAHT software in 1999, was Director of Software Development for Relativity Technologies from 1997-1999 and held senior software engineering positions at Versata (VATA) from 1994-1997.

Benjamin Robinson, PhD, President and CEO of Innovative Risk Solutions & Industry Expert Robinson serves as the president and chief executive officer of Innovative Risk Solutions, one of the first companies to help financial institutions proactively address identity theft case management and compliance with the FACT Act, Sarbanes-Oxley, the Patriot Act and other federal regulations. With almost 20 years experience in executive and privacy leadership roles, he was most recently Chief Privacy Executive of Bank of America. Previously, he served as President and CEO of MasterCard Cardholder Solutions Inc., a subsidiary of MasterCard International and also chief privacy officer for MasterCard International. An author, including Financial Privacy & Electronic Commerce Who’s in My Business (Writers Club Press, 2000), as well as numerous papers and articles on the banking industry, Robinson is nationally recognized in the field of privacy and compliance. He currently serves on the Federal Reserve Board’s Consumer Advisory Council. In 1993, Robinson worked on the U.S. House of Representatives' Committee on Banking, Finance, and Urban Affairs, advising former Congressman Joseph P. Kennedy II on banking issues affecting the United States. Prior to the United States House of Representatives, Robinson held senior positions with Mellon Bank and former Fleet Bank.

Jeff Williams, CEO, Aspect Security, Inc. Williams is a founder and the CEO of Aspect Security, an application security services firm. His extensive security experience includes application security, network security, assurance, cyberlaw, policy, risk management, and compliance. Williams is also the Chair of the open source Open Web Application Security Project (OWASP) and manages projects and local chapters worldwide. He also chaired the group responsible for creating ISO 21827, the Systems Security Engineering Capability Maturity Model (SSE-CMM). Williams has a B.A. in Cognitive Psychology and Computer Science from the University of Virginia, an M.A. in Human Factors Engineering from George Mason University, and a J.D. cum laude from the Georgetown University Law Center, where he specialized in intellectual property and cyberlaw.

Ira Winkler, Industry Expert and Author Winkler is recognized as one of the world's experts in Internet security, information warfare, information-related crime investigation, and industrial espionage. He is a specialist in penetration testing, where he infiltrates companies, both technically and physically, to find and repair an organization's weaknesses. Prior to becoming founder and president of the Internet Security Advisors Group (ISAG), Winkler was Director of Technology at the International Computer Security Association (ICSA). Winkler began his career at the National Security Agency (NSA), where he performed cryptanalysis and was responsible for systems design and implementing security elements in intelligence collection and analysis systems. Winkler is also the author of Spies Among Us, (Wiley Publishing, 2005), which describes the spies, hackers, and other criminals that you face every day and what to do about them.

About Covelight Systems Covelight Systems is an innovator of solutions that detect theft, fraud and abuse of critical web-enabled assets. The company’s patent-pending solutions deliver actionable intelligence in the form of real-time incident detection and notification, security analytics, and extensive forensic audit trails to ensure an enterprise’s web-application user community is held accountable. For additional information about the company's products and services, visit: www.covelight.com. # # # Contact: Kristin Canders-acaggio public relations Kristin@acaggio.com207-989-1908

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