IPOLICY NETWORKS NAMES PETER MOULDS VICE PRESIDENT OF WORLDWIDE SALES

Company Expands Management Team to Address Growing Demand for iPolicy’s Integrated Network Security Solutions for Adaptive Threat Prevention

Fremont, Calif., June 12, 2006 – iPolicy Networks, provider of integrated network security solutions, today announced that Peter Moulds has joined the company as vice president of worldwide sales. With the hiring of Moulds, a seasoned sales professional with an impressive background in developing and leading worldwide direct and channel/VAR sales teams in the technology sector, iPolicy Networks continues to build upon its technological and market momentum. The company recently announced a record-breaking year with significant growth in installed base, revenues, and partnerships, as well as expansion of the product line. iPolicy Networks also recently received validation and certification by industry consultant firm Miercom as the most scalable network security solution in the industry for adaptive threat prevention (report details can be found at: http://www.ipolicynetworks.com/news/review-miercom.html).

“Over the past year, we have experienced unprecedented customer acquisition coupled with more than 100 percent revenue growth, with international sales flourishing at a strong 25 percent of total sales,” said Arun Chandra, president and CEO of iPolicy Networks.  “Pete Moulds’ proven track record of executing dynamic growth strategies and building world-class sales teams will contribute to our goals of continued revenue and customer-base growth and expansion in new vertical and geographical markets.”

Moulds was most recently vice president of worldwide sales and marketing for Propel Software, a developer of Web and e-mail acceleration software, where he initiated and led a dramatic growth in the company’s account base of telephone companies and ISPs. Prior to Propel, Moulds served as vice president of sales for the U.S. and Canada at Ascend Communications (acquired by Lucent Technologies), where he was part of the initial team that grew the company’s annual sales to over $200 million and led the company to a highly successful IPO in 1994. Additionally, Moulds was vice president of worldwide sales for communications access equipment provider Larscom (now Verilink). He was also previously a venture partner at Lightspeed Venture Partners, and director of sales for Infotron Systems, a start-up and IPO later acquired by Mitel. Moulds began his career at Hewlett-Packard as a product manager for minicomputer products. He holds a BS EE&CS from the University of California at Berkeley.

“iPolicy Networks is a dynamic young company that addresses the security challenges of a broad spectrum of customers, including mid-to large-sized multi-location enterprises, managed security service providers, telcos and other service providers,” said Moulds. “The market for unified threat management and intrusion prevention systems continues to grow at a strong pace as network threats constantly evolve and regulatory requirements increase. I look forward to working with the iPolicy team to continue the company’s rapid growth and expansion.”

About iPolicy Networks
iPolicy Networks, an integrated network security product company, empowers customers to dynamically adapt their security to optimally address constantly emerging threats. iPolicy Networks’ Intrusion Prevention Firewall appliances are the only ones to utilize a deep-packet inspection based Single Pass Architecture™ that enables organizations to enforce a wide variety of real-time security processes at extremely high speeds without impacting performance. Its scalable management solution provides consistent security enforcement across the network, through a large number of geographically dispersed iPolicy Networks appliances and advanced multi-security virtualization. Headquartered in Fremont, California, iPolicy Networks’ customers include some of the world's largest network service providers and leading government, financial services and educational organizations. For more information, please visit www.ipolicynetworks.com or call 1.510.687.3000.