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CYBER-ARK UNVEILS SOURCE CODE VAULT

Inter-Business Vault® for Distributed Software Development Projects Enables Secure, High-performance Code Sharing and Exchange without Opening the Network to Outsiders

Dedham, Mass.,-March 29, 2004 - Cyber-Ark® Software Inc., the information security software company that invented and markets Vaulting Technology™, today unveiled Inter-Business Vault™ for Distributed Software Development Projects (Source Code Vault). The Source Code Vault solution enables secure, high-performance code sharing and exchange over the Internet, enabling organizations to confidently leverage offshore development, outsourcing and other collaborative development projects without opening the entire enterprise's network to subcontractors and other outsiders.

Widespread outsourcing and offshore development are transforming the software development entities of banks, insurance and technology companies into globally distributed, collaborative operations. Unfortunately, network boundaries, security concerns and bandwidth issues pose significant barriers to organizations trying to connect distributed software development sites to each other in order to reduce costs and deliver the shortest time-to-production for new software products. The Source Code Vault eliminates the need to open the enterprise's network to subcontractors with a Virtual Private Network (VPN) or completely redundant network, while still enabling the sharing of file servers, FTP servers, and mail systems as if the sites are sharing a single network

"Despite the security risks, virtually every large enterprise engages in some form of outsourced or contract development, often opening up sensitive network areas with a VPN or redundant networks," said Alon Cohen, CEO of Cyber-Ark. "The Source Code Vault makes it tremendously easy and safe to rapidly connect subcontractors and distributed development sites-without exposing the enterprise network to an onslaught of potential security risks."

Built on Inter-Business Vault Technology

Source Code Vault builds upon Cyber-Ark's groundbreaking Inter-Business Vault. Rather than trying to protect the entire enterprise, Cyber-Ark provides a safe haven, highly secured regardless of overall network security, where information can be stored and shared. Cyber-Ark's patented Vaulting Technology substantially decreases costs, improves security and enhances the performance associated with sharing information internally, with business partners and with remote offices. It provides a powerful solution for distributed software development projects with:

Internet-based File, Server, FTP and Mail System Sharing overcomes network boundary, security and bandwidth issues to enable worldwide, secure collaboration.
End-to-end Security that protects data during transmission and while at rest to preserve data integrity and protect intellectual property.
Caching, End-to-end Compression and Distributed Encryption maximizes bandwidth and delivers high-performance connectivity even for small subcontractors on low-speed connections.
Comprehensive Audit, Access and Version Control that ensures data integrity by providing the ability to enforce a strict access control policy and track all access and use.
Unmatched Spectrum of Interfaces, including CIFS, FTP, HTTP, SMTP and API/CLI delivers rapid, smooth integration with the diverse IT infrastructures of subcontractors and development sites.
Distributed Administration and Authentication enables each site to administer and authenticate its own users to reduce administrative overhead.

Inter-Business Vault for Distributed Software Development Processes (Source Code Vault) is available immediately. For a complete solutions overview, please visit
www.cyber-ark.com/networksecurity/sourcecodevault.asp

About Cyber-Ark

Cyber-Ark Software Inc., is the leading provider of Vaulting security software that leverages its unique patented Vaulting Technology to create safe havens for securing and sharing vital company information. The Company's award-winning Network Vault® and Inter-Business Vault™ solutions enable a truly secure extended enterprise by providing an infrastructure that allows for completely transparent, yet totally secure, intra- and inter- business communications. Cyber-Ark's leading Vaulting applications include Treasury Management, CAD/CAM, Password Protection and Source Code Sharing and Collaborative Development. Today Cyber-Ark enjoys strong customer relationships with over 100 Global 1000 companies around the world.

Founded by a group of leading military security experts and computer engineers, Cyber-Ark Software is privately held and backed by some of the world's most successful venture capitalists, including Jerusalem Venture Partners, Seed Capital Partners (a SOFTBANK Affiliate), JP Morgan/Chase Partners, Vertex Management and Nomura International Plc.

The Company is located in Dedham, Mass. and on the World Wide Web at www.cyber-ark.com

Cyber-Ark Software Press Contact:

Richard April
Vice President of Marketing
781-251-0670
richard.april@cyber-ark.com

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