Cloakware Board Taps David Canellos as Interim President



    Jeff Waxman Resigns as President & CEO for Personal Reasons; Remains on
Board of Directors

    VIENNA, VA., September 6 /CNW/ - Cloakware Inc., the security solutions
provider that makes security inseparable from software, announced today that
Executive Vice President Worldwide Sales, David Canellos, has been named
interim president. Jeff Waxman, former president and CEO, announced his plan
to resign for personal reasons, while still remaining on the board of
directors. Cloakware will conduct a professional search to fill the position
vacated by Waxman.

    "From its inception, Cloakware focused on development of the most
reliable security software in the industry," said Paul Ciriello, Chairman of
the board of directors for Cloakware and managing general partner of Fairhaven
Capital. "During Jeff's tenure, he led the company from an R&D-centric
organization to a commercially successful industry leader. The board and I are
thankful for Jeff's contribution and for building the company into an
application security leader."

    David Canellos, executive vice president of worldwide sales will serve as
the company's interim president. Canellos will use his 20 years of
professional experience and intimate knowledge of all aspects of Cloakware's
business to continue to meet customer needs, nurture partner relationships,
build out the global salesforce, launch new and improved products and lead the
company forward.

    "David has driven the company's sales growth and market share for more
than three years," said Ciriello. "His proven track record, trusted
relationships with customers and leadership within the company make him an
ideal choice. David, along with the entire organization, will continue to
deliver the best products with the highest level of service the industry has
come to expect while accelerating the company's growth."

    About Cloakware

    Cloakware is the security solutions provider that makes security
inseparable from the software it protects. From applications and databases
deep inside corporations, to consumer devices like music players, to military
weapon systems, more and more software applications need to protect themselves
from unauthorized user access and tampering. Only Cloakware's patented,
layered, and compliance-driven approach to software self-protection delivers
the trusted environment that the government, enterprise, and consumer markets
require. As a result, Cloakware solutions are on more than 500 million
devices, protecting the assets of some of the world's largest, most
recognizable and technologically advanced companies. The company is
headquartered in Vienna, Va., has offices in Ottawa, Canada and the UK, and
regional sales offices throughout the US. For more information about Cloakware
or its products, please visit http://www.cloakware.com.

    All product or service names mentioned herein are the trademarks of their
respective owners.




For further information:

For further information: Cloakware Inc. Heather MacIntosh, +1
866-465-4517 x227 heather.macintosh@cloakware.com

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CLOAKWARE INC.

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