AXENT Reports Second Quarter 1999 Results.

ROCKVILLE, Md.--(BUSINESS WIRE)--July 28, 1999--

AXENT Technologies, Inc. (NASDAQ:AXNT), one of the world's leading information security solution providers, today reported second quarter revenues of $26,429,000 for the three months ending June 30, 1999, compared to revenues of $22,540,000 for the same three-month period of 1998. Excluding non-recurring items and amortization of intangible assets, AXENT(TM) had a net loss for the three months ended June 30, 1999 of $892,000, or $0.03 per share, compared to net income of $4,050,000, or $0.15 per share, for the same period of 1998.

"The results for the quarter were in line with our revised expectations and we continue to see validation for our e-security strategy," said John Becker, chairman and CEO of AXENT. "This quarter, we received extensive industry, press and customer praise for AXENT's e-security offerings that enable e-business initiatives and we remain confident in the overall company direction." -0-

Quarterly Highlights

Technology and market leadership

-    GartnerGroup named AXENT and its Raptor(R) Firewall solution as
     the top "leader" in its very influential Magic Quadrant. The
     GartnerGroup Quadrant evaluates security providers on
     completeness of vision, which includes the security of the
     firewall, plans for networked firewalls and ease of use and
     administration, as well as ability to execute, which includes
     experience and distribution channels.

-    PC Week Labs found NetProwler (TM) 3.0 "the most complete
     network-based intrusion detection product tested to date" in a
     recent review.

-    SC Magazine(TM), the industry's top security publication, gave
     AXENT four awards, including "Best Buy" (Defender(TM) and
     Intruder Alert(TM)), the "Reader Trust" award for Best General
     Security product (Intruder Alert), and the coveted "Academy
     Award" for Best Security Management solution (Enterprise Security
     Manager(TM)).

-    Communications News awarded WebDefender (TM) 2.0 its "Editor's
     Choice" award.

New e-security products

-    Shipped NetProwler 3.0, a powerful network-based intrusion
     detection solution (IDS) and the first solution resulting from
     the Internet Tools, Inc. acquisition in January of 1999.
     NetProwler features initial integration with Intruder Alert(TM)
     to deliver a combined host- and network-based IDS managed and
     controlled from a single console.

-    Shipped WebDefender 2.0, the first Web access control
     solution to simplify user access to any Web server running on
     UNIX or NT and facilitate critical Internet initiatives.

Expanded e-security consulting services

-    AXENT expanded its security consulting services business into
     Europe. AXENT appointed Michael Bacon, a security veteran with 31
     years of experience and former director of Information Security
     Services at KPMG, to the position of director, European
     operations for AXENT's subsidiary Secure Network Consulting, Inc.
     (SNCi).

-    In addition, AXENT's subsidiary Secure Network Consulting, Inc.
     (SNCi) provided services to more than 70 customer organizations
     in the second quarter.

E-security strategy aimed at growing e-commerce/e-business opportunity

-    In June, AXENT introduced its e-security strategy aimed at
     leveraging AXENT's broad line of award-winning products and
     unique Lifecycle Security(TM) services to assess, protect, enable
     and manage the dynamic security challenges organizations face as
     they move their businesses to the Internet.

-    AXENT also introduced the Smart Security Architecture, outlining
     the appropriate integration between products and services to
     deliver the right level of security to AXENT's customers.

Top organizations turn to AXENT

-    Network World, CIO and For the Record all profiled the success of
     customers leveraging AXENT solutions to move their business to
     the Internet, including PNC Bank, Reliant General, Integrated
     Health Services, and Regence BlueCross and BlueShield of Oregon.

-    AXENT is helping financial institutions worldwide move safely to
     e-commerce. Enterprise Security Manager (ESM) is being deployed
     to dozens of American Bankers Association's Information Security
     Infrastructure Working Group members. ESM enables these top banks
     and financial institutions to provide a secure environment for
     their customers' financial transactions.

-    Top companies in multiple industries turn to AXENT's
     award-winning solutions and services to protect and enable new
     e-business practices, including E-Trade, PNC Bank, Immunex
     Corporation, Credit Lyonnaise, National Board of Medical
     Examiners and Toronto Dominion Bank.

About AXENT(TM)

AXENT Technologies, Inc., a global leader in information security, provides e-security solutions that maximize our customers' business advantage. AXENT delivers integrated products and expert services to assess, protect, enable and manage business processes and information assets. Through its unique Lifecycle Security methodology combined with Smart Security Architecture, AXENT delivers the right level of security for customers. Award-winning solutions offer assessment and policy compliance, firewall, intrusion detection, authentication, VPN, Web-access, single sign-on and user administration for the entire enterprise.

Headquartered in Rockville, MD, AXENT's customer-proven information security solutions are used by 45 of the Fortune 50 and governments worldwide. Contact AXENT via e-mail at [e-mail], or visit AXENT's World Wide Web site at http://vpo.axent.com.

Statements in this release concerning AXENT's future prospects are "forward-looking statements" within the meaning of provisions of the Federal securities laws and involve risk and uncertainties. Those statements are subject to known and unknown risks and uncertainties that could cause anticipated future results not to be achieved or actual results to differ materially, including, but not limited to, (1) management's ability to manage growth, accurately forecast revenues and control expenses, (2) the highly competitive environment for AXENT's products and services and the consolidation of the information security industry, (3) the possibility of rapid technological advances and new product introductions in AXENT's market, (4) Year 2000 issues and the responses of prospective customers, (5) AXENT's ability to manage recent and potential acquisitions and (6) other factors identified under the caption "Certain Factors That May Affect Future Performance" in the Company's Form 10-K for 1998 or discussed in the "Risk Factors" section of the Company's Prospectus/Joint Proxy Statement dated January 2, 1998, each as filed with the SEC. The Company assumes no obligation to update or correct forward-looking statements due to events or changes after the date of this release.

AXENT, AXENT Technologies, the AXENT logo, Lifecycle Security, Raptor, Enterprise Security Manager, Intruder Alert, NetProwler, Defender and WebDefender are trademarks or registered trademarks, in the United States and certain other countries, of AXENT Technologies, Inc. or its subsidiaries. SC Magazine is a trademark of West Coast Publishing, Inc. All other product names and trademarks are the property of their respective owners.

                       AXENT Technologies, Inc.
                 Condensed Consolidated Balance Sheets
                            (in thousands)


                                               June 30,
                                                 1999        Dec. 31,
                                              (unaudited)      1998

ASSETS

Current assets:
   Cash and equivalents                          $ 97,985   $ 80,035
   Marketable securities                            8,774     31,774
   Accounts receivable, net                        25,818     28,300
   Other current assets                             3,603      4,128


      Total current assets                        136,180    144,237


Property and equipment, net                        11,772      7,482
Goodwill and other intangible assets               29,024      2,340
Other assets                                       10,297      7,217


      Total assets                               $187,273   $161,276


LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Accounts payable and accrued liabilities      $ 19,760   $ 15,764
   Deferred revenue                                15,307     11,184


      Total  liabilities                           35,067     26,948

Stockholders' equity                              152,206    134,328


      Total liabilities and
      stockholders' equity                       $187,273   $161,276


                       AXENT Technologies, Inc.
            Condensed Consolidated Statements of Operations
                 (in thousands, except per share data)
                              (unaudited)

                         For the Three Months     For the Six Months
                            Ended June 30,          Ended June 30,

                            1999       1998        1999       1998

Net revenues:
 Product licenses        $ 17,545   $ 17,392    $ 32,731   $ 33,675
 Services                   8,884      5,148      15,142      9,196

  Total net revenues       26,429     22,540      47,873     42,871


Cost of net revenues:       3,721      2,209       6,864      4,246


Gross profit               22,708     20,331      41,009     38,625


Operating expenses:
 Sales and marketing       15,659      9,597      29,315     18,738

 Research and development   6,922      4,551      13,216      8,709
 General and
  administrative            2,667      1,430       5,369      2,912

 Amortization of
  intangible assets         1,309 a       83 a     1,460 a      164 a
 Non-recurring charges       --         --         3,753 a   17,422 a


  Total operating
   expenses                26,557     15,661      53,113     47,945


Income (loss) before
 royalties, interest
  and taxes                (3,849) a   4,670 a   (12,104) a  (9,320) a

 Royalty income              --          558        --        1,127
 Interest income            1,050      1,022       2,118      2,085
 Gain on sale of
  marketable securities      --          --          --         389 a
 Income tax benefit
  (provision)                 598     (2,283)      1,717       (178)



Net income (loss)        $ (2,201) a $(3,967) a  $(8,269) a $(5,897) a



Basic net income (loss)
 per common share:       $  (0.08) a    0.16 a   $ (0.30) a $ (0.24) a
Basic shares
 outstanding (000's)       27,843     25,195      27,124     24,779

Diluted net income
 (loss) per share:        $ (0.08) a $  0.15 a   $ (0.30) a $ (0.24) a
Diluted shares
 outstanding (000's)       27,843     27,234      27,124     24,779

a) For the six months ended June 30, 1999, AXENT incurred
non-recurring charges of approximately $1,753 associated with the
acquisition of Internet Tools, Inc., $2,000 associated with the
acquisition of PassGo, and amortization of intangible assets of
$1,460. Results for the six months ended June 30, 1998 include a
one-time charge of $17,422 ($13,322 net of taxes) related to the
acquisition of Raptor Systems, Inc., a gain from the sale of residual
MTI marketable securities of $389 ($233 net of taxes), and
amortization of intangible assets of $164. For the three months ended
June 30, 1998 and 1999, respectively, AXENT recorded amortization of
intangible assets of $83 and $1,309. Excluding non-recurring items and
amortization of intangible assets, results for the three and six
months ended 1999 and 1998, respectively, are:

                       For the Three Months         For the Six Months
                          Ended June 30,               Ended June 30,

                         1999        1998             1999       1998


Income (loss) before
 royalties, interest,
 and taxes               $ (2,540)   $  4,753    $ (6,891)   $  8,266
Net income (loss)        $   (892)   $  4,050    $ (3,056)   $  7,356

Basic net income (loss)
 per common share        $  (0.03)   $   0.16    $  (0.11)   $   0.30

Basic shares outstanding
 (000's)                   27,843      25,195      27,124      24,779
Diluted net income (loss)
 per common share        $  (0.03)   $   0.15    $  (0.11)   $   0.27

Diluted shares
 outstanding (000's)       27,843      27,234      27,124      26,807