KELOWNA, B.C. July 24, 2002 (PRIMEZONE) -- Secure Enterprise Solutions Inc. (OTCBB:SETP) (the "Company" or "SETP") is pleased to announce that Edgetech Services Inc. (Edgetech) has signed several new Business Partner agreements with leading security providers. These Authorized Reseller agreements enhance the ability of Edgetech to increase its revenue streams by offering the broadest suite possible of best-of-breed products and services to an ever-expanding client list.
The new Edgetech partners are:
Bindview Corporation (NASDAQ:BVEW) is a worldwide leader in host-based vulnerability assessment software. More than 20 million licenses have been shipped worldwide. Clients include 80 of the Fortune 100 companies, and 24 of the largest 25 U.S. banks.
Recourse Technologies(tm) is a leading provider of threat management solutions that detect, analyze, and respond to malicious computer attacks, enabling secure and uninterrupted business operations. Recourse is subject of a pending $135 million take-over by Symantec.
Sniffer Technologies provides network protocol analysis, application and security management solutions. Sniffer is owned by Network Associates (NYSE:NET).
Symantec (NASDAQ:SYMC) is a world leader in Internet security technology, providing a broad range of content and network security software and appliance solutions to individuals, enterprises and service providers. In its most recent quarter, Symantec announced revenue of $316 million. Symantec is currently completing the takeovers of Recourse Technologies, SecurityFocus and Riptech.
Edgetech Co-Founder Tae Ho Kim said, "Our new Business Partners contribute to our strategy of offering the strongest suite of security products and services in North America. Our goal is to provide the best security solutions to our clients regardless of location or price. We are proud of these new relationships and our expanded abilities. Additional agreements we are working on will solidify our position as one of the leading North American security solutions providers."
SETP has previously announced the acquisition of Edgetech towards which both companies are finalizing all requirements. This transaction is expected to close before the end of July.
SETP also announces that a market equity research report detailing the company has been completed by the respected Evans & Evans, a leading boutique investment firm. The report concludes that, with certain assumptions, SETP could justify a valuation of US$0.43 per share. The full report is available at www.weprovidesecurity.com
Both SETP and Edgetech continue to discuss and negotiate additional partnering, acquisition, and revenue generating opportunities. There can be no assurance of the successful completion of these discussions and additional news will be released as available.
Edgetech Services Inc. is a privately held Ontario corporation. Its primary business is IT Consulting covering the following areas: IT Security, Biometrics, Business Solutions, Systems Engineering, Software Development and Project management.
Edgetech offers expertise in project management, IT professionals and custom technology solutions. Edgetech is a Business Partner to Microsoft, IBM and others. Edgetech's clients include major government and private sector clients in Canada and the United States. Some of these clients include: IBM, Falconbridge, Bell Nexxia, Rogers Telecom and Province of Ontario. The Edgetech website is www.edgetechservices.com
For corporate information contact Chris Bunka, CEO 250-765-6424, or chris.bunka@weprovidesecurity.com or examine the website at www.weprovidesecurity.com
This press release includes forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Inherent risks and uncertainties could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties are described in the periodic reports the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.