SafeNet Joins IBM Blue Logic IP Collaboration Program

BALTIMORE, Maryland – September 3, 2003 – SafeNet (NASDAQ: SFNT), a leading provider of private and public network security solutions that have set the industry standard for securing virtual private and wide area networks, today announced that it has been selected to participate in the IBM Blue Logic IP Collaboration Program.

Established in March 2002, the IBM Blue Logic IP Collaboration Program fosters collaboration between IBM and leading technology companies to enable first-time-right design and rapid time-to-market of chips for advanced electronic systems products. Recognized by electronics industry analysts as critical to the design and manufacture of the next generation of smaller, faster and less expensive products, third-party IP licensing mechanisms have been developed in recent years to address the burgeoning requirement for specific electronic functions that require in-depth, application-specific design expertise. With the IBM Blue Logic IP Collaboration Program, third-party IP cores are available for licensing directly from the IBM program members to integrate into ASICs manufactured by IBM. With SafeNet included in this program, IBM customers and select third-party providers will have access to SafeNet's EmbeddedIP™ technology in conjunction with IBM leading ASIC manufacturing technologies.

"As a leader in internet security, SafeNet must utilize all distribution methods available to make its technology accessible to all industries in order to facilitate the use of strong security technology," said Anthony Caputo, Chairman, and CEO of SafeNet. "We are pleased that IBM, a global leader in semiconductor products, has selected SafeNet to participate in the Blue Logic IP Collaboration Program, making our EmbeddedIP technology available to IBM customers."

"The Blue Logic IP Collaboration Program has been well-received by customers who require a broad range of design and manufacturing options in order to meet their design and time-to-market goals," said Tom Reeves, vice president, ASIC product group, IBM Microelectronics. "The program increases offerings in the IBM library of technical solutions and helps enable select third party providers, like SafeNet, to offer their solutions within the IBM Blue Logic design methodology."

About SafeNet, Inc.
SafeNet, Inc. (NASDAQ: SFNT), a leading provider of private and public network security solutions, has set the industry standard for VPN technology and secure business communications and offers the only encryption platform for both WAN and VPN networks. With more than 20 years experience in developing, deploying, and managing network security systems for the most security-conscious government, financial institutions, and large enterprise organizations around the world, SafeNet's proven technology has emerged as the de facto industry standard for VPNs. SafeNet is the single-source vendor for WAN and VPN security solutions teamed with an easy and low-cost migration path to a broad range of VPN products. SafeNet security solutions, based on SecureIP Technology™, and part of the CGX Security Platform, have become the products of choice for leading Internet infrastructure manufacturers, service providers, and security vendors. Securing the infrastructure of today's e-business communications as well as leading the way in government Homeland and classified data security, SafeNet has opened new markets for interoperable, secure, and deployable VPN communications. Commercial customers include Texas Instruments, Microsoft, Samsung, Centillium Communications, ARM, and Cisco Systems. Government, financial, and large enterprise customers include Federal Bureau of Investigation, U.S. Postal Service, U.S. Department of Defense, U.S. Internal Revenue Service, Social Security Administration, American Express, Bank of America, Eastman Kodak, Hewlett-Packard, and Motorola. For more information, visit www.safenet-inc.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements are subject to uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. Important factors that could cause actual results to differ materially are included but are not limited to those listed in SafeNet's periodic reports and registration statements filed with the Securities and Exchange Commission. The Company assumes no obligation to update information concerning its expectations.


Editor’s Note: SafeNet is a registered trademark and SecureIP Technology and EmbeddedIP are trademarks of SafeNet, Inc. All other trademarks are the property of their respective owners.