EdgeWave Announces Trading of Its Shares on the OTCQB Marketplace

SAN DIEGO, CA--(Marketwire - April 7, 2011) - St. Bernard Software, Inc., DBA EdgeWave, (OTCQB: EWVE), a leader in Secure Content Management (SCM) solutions, today announced that its shares are now being exclusively quoted on OTC Markets Group's OTC Link™ platform and is no longer being quoted on the OTCBB, also known as the Bulletin Board.

This change was not caused by any action or inaction by EdgeWave, which continues to be in full compliance with all of its U.S. Securities and Exchange Commission (SEC) reporting requirements.

The Financial Industry Regulatory Authority (FINRA), which runs the OTCBB, calls for any company without at least one market maker to be removed from quotation after four days. It is estimated that FINRA has removed more than 1,000 companies from the OTCBB since February 15, 2011, as numerous market makers, including those that have traditionally traded EdgeWave's common stock, have favored trading on the OTC Link platform. EdgeWave is currently in the process of reapplying to the OTCBB and expects that it will eventually trade on both platforms.

Lou Ryan, Chief Executive Officer at EdgeWave, commented, "We apologize to our shareholders for any delays or confusion regarding trading during this transition. Although we are in good company on the OTCQB platform, our goal and intent is to move back to the Bulletin Board listing, as we believe there is significant value to be gained from maintaining our profile on both platforms."

OTC Markets Group operates the world's largest electronic interdealer quotation system for broker-dealers to trade stocks not currently listed on major U.S. exchanges such as NASDAQ and NYSE. The platform supports an open network of competing broker-dealers that provide investors with the best prices in more than 10,000 OTC securities. In 2010 alone, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange.

Priced quotes published on OTC Link make up approximately 95% of priced quotes in the OTC marketplace. This movement shows brokers' continued support of the electronic OTC Link system, as they migrate to quote exclusively on this platform.

There are three main tiers in the OTC Marketplace. The first tier is OTCQX, the quality-controlled marketplace for companies that meet certain financial standards. The second tier is OTCQB, the U.S. reporting marketplace tier where EdgeWave currently trades. Companies within this tier are current in their reporting requirements with the SEC. The third tier is designated OTC Pink, which is the market for speculative trading. Although the Company is currently listed on the second tier OTCQB marketplace, the Company intends to apply for listing on the OTCQX.

Potential investors can now obtain current EdgeWave stock price quotes from the OTC Markets Group website at http://www.otcmarkets.com/stock/EWVE/quote. Investors can also view full Level 2 quotes for EWVE, detailing all active brokers in EWVE and their quote information, on OTC Markets Group's site.

For more information regarding EdgeWave and its Secure Content Management solutions, please visit www.edgewave.com or call 1-800-782-3762.

About St. Bernard Software, Inc. DBA EdgeWave™ 

EdgeWave™ (OTCQB: EWVE) develops and markets on demand, on-premises, and hybrid Secure Content Management (SCM) solutions to the mid-enterprise and service provider markets. The EdgeWave portfolio of web, email and data protection technologies delivers comprehensive secure content management with unrivalled ease of deployment and the lowest TCO on the market. The Company's award winning iPrism Web Security and Red Condor Email Security products are now complemented by new e-reputation, email archiving and data leakage protection solutions, and can be delivered as hosted, on-premises, and hybrid services. With 6,500 customers and over 200 MSP partners worldwide, EdgeWave strives to deliver simple, high performance solutions that offer excellent value

Based in San Diego, California, EdgeWave markets its solutions through a network of value added resellers, ISPs and MSPs, distributors, system integrators, OEM partners and directly to end users. For more information about EdgeWave, visit www.edgewave.com

©2011 St. Bernard Software, Inc. All rights reserved. The EdgeWave logo, iPrism, iGuard, the Red Condor Logo, ProCare Elite, and Vx Technology are trademarks of St. Bernard Software, Inc., DBA EdgeWave. All other trademarks and registered trademarks are hereby acknowledged.

Forward Looking Statement
This press release may contain forward looking statements that involve risks and uncertainties, as well as assumptions that, if they prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, among other things, any statements of the plans, strategies, and objectives of management, including plans of reapplying to the OTCBB or Bulletin Board as well as plans of applying for listing on the OTCQX, and statements of belief and any statement of assumptions underlying any of the foregoing, including statements that it believes it will eventually be listed on the OTCBB or Bulletin Board. The risks, uncertainties and assumptions referred to above include, among other things, the ability of the Company to attract market makers that will quote the Company's shares on the OTCBB, the ability of the Company to keep at least one market maker to continue to quote the Company's shares on the OTCBB, FINRA's acceptance of the Company's OTCBB listing application and the OTC Markets Group's acceptance of the Company's OTCQX listing application. We assume no obligation and do not intend to update these forward-looking statements.

Contact Information:

Media contact:
Lorrie Hunsaker
EdgeWave
(858) 524-2041