Baltimore Technologies Strengthens E-security Leadership With Acquisition of Content Technologies, the Market Leader in Content Security.

Business Editors

LONDON--(BUSINESS WIRE)--Sept. 14, 2000

Baltimore Technologies plc.(Nasdaq: BALT)(London: BLM)

The Acquisition Adds Leading MIMEsweeper Product Range to Provide

Baltimore With Leadership in Fast-Growing Segment in E-security

Baltimore Technologies plc. ("Baltimore") (Nasdaq:BALT) (London:BLM), a global leader in e-security, today announced that it has signed a definitive agreement to acquire the whole of the issued share capital of Content Technologies Holdings Limited ("Content Technologies"), developers of the MIMEsweeper range of products and the market leader in content security solutions. The total consideration is 91 million Baltimore ordinary shares (the "Consideration Shares"). Based on the Baltimore closing price in London of (pound)7.72 per share on September 13, 2000, the transaction consideration is equivalent to (pound)702.5 million ($992.0 million).

This acquisition further strengthens Baltimore's position in the e-security market and gives Baltimore a leadership presence in the fast-growing content security market. According to a recent IDC report, the market for content security is set to grow annually by 71% and will be worth US$952 million by 2004.

Content Technologies' products enable organizations to implement policies protecting them against confidentiality breaches, exposure to e-mail legal liability, junk e-mail, e-mail-borne viruses, and misuse of e-mail and the Web. Over 6,000 customers and 6 million users throughout the world currently use Content Technologies' MIMEsweeper to protect against business and network integrity threats.

"Just as e-security solutions have enabled and become the `de facto' standard for secure e-commerce, content-based security is increasingly requested by enterprises as part of their business-critical e-security infrastructure. The combination of Baltimore Technologies and Content Technologies is a natural progression to further address our corporate customers' evolving security requirements," remarked Fran Rooney, Chief Executive Officer of Baltimore. "Content Technologies have rapidly established themselves as leaders in content security through clear technology leadership, strong customer focus and aggressive sales and marketing. We will continue to grow the MIMEsweeper product range in conjunction with Baltimore's e-security products and services."

David Guyatt, Chief Executive Officer of Content Technologies Holdings Limited explained: "Joining forces with Baltimore will allow us to accelerate the roll-out and development of our content security products by leveraging Baltimore's existing infrastructure and proven technology. The combination of our two technologies is a natural fit offering a complementary set of solutions for our customers. Together we secure who and what enters and exits your e-business."

Delivering a Broad Range of e-Security Solutions

The acquisition of Content Technologies allows Baltimore to address organizations' increasing requirements for broader and more integrated security solutions. In particular:

-- The ability for companies to know with whom they are exchanging information.
This encompasses the principals of access control, authentication,
confidentiality, integrity and non-repudiation, and

-- The ability for companies to protect themselves from threats in the
information they are exchanging. This includes the ability to govern the use
and flow of data and commercial information within, to and from the
organization.

Highly Complementary Customers and Product Lines

The acquisition also provides Baltimore with important customer, channel, product and market advantages. The acquisition:

-- Combines Baltimore's award-winning e-security products with

Content Technologies' leading-edge MIMEsweeper product family,

the industry's leading policy-based content security and

management solution;

-- Further expands Baltimore's global presence, in particular in

North America, where Content Technologies realized some 42% of

its sales in the nine-month period ended July 31, 2000;

-- Creates significant cross-selling opportunities between

Baltimore's blue-chip customer base and Content Technologies'

large and mid-sized customers;

-- Combines Baltimore's global reach and strong salesforce with

Content Technologies' extensive Value Added Reseller (VAR)

channels;

-- Accelerates Content Technologies' e-Sweeper offering into the

rapidly expanding Application Services Provider (ASP) market

by leveraging Baltimore's network of trust e-service providers

and commercial certificate authority hosting capabilities;

-- Creates new technology and product opportunities.

About Baltimore Technologies

Baltimore develops and markets security products and services to enable companies to develop trusted, secure systems for e-business, the Internet and mobile commerce. Its products include a wide range of Public Key Infrastructure (PKI) products and services, wireless e-security solutions, cryptographic tool-kits, security applications and hardware cryptographic devices. Baltimore's global professional services organisation offers a wide variety of consulting, training and deployment support to its customers worldwide. Baltimore markets and sells its solutions worldwide directly and through the TrustedWorld channel program. TrustedWorld includes many of the world's leading technology companies and a wide variety of global, regional and local business alliance partners.

Baltimore employs over 800 people worldwide and operates from 28 cities, with headquarters in Dublin, Ireland; London, U.K.; Boston, U.S.A. and Sydney, Australia.

For further information and press releases on Baltimore, please visit http://www.baltimore.com.

About Content Technologies

Content Technologies is a leading developer of e-mail and Internet content security and policy management solutions. Over 6,000 customers and six million users world-wide use Content Technologies' MIMEsweeper family of content security solutions. The family of solutions includes MAILsweeper for SMTP, SECRETsweeper, MAILsweeper for Microsoft Exchange, WEBsweeper, MIMEsweeper for Domino and e-Sweeper. MIMEsweeper, launched in 1995, was the first product on the market to scan e-mail and attachments for content threats. The MIMEsweeper family has since become a leading solution for content security, providing organisations with content security and policy management defences against business and network integrity threats. These threats include misuse of e-mail and the Web, confidentiality breaches, exposure to e-mail legal liability, unsolicited e-mail and spoofing. Content Technologies' MAILsweeper for SMTP Version 4.1 provides a comprehensive policy-based content security solution that enables companies to implement and manage policies to combat key business security threats posed by the Internet. The company's SECRETsweeper product enables content management of encrypted e-mail, and e-Sweeper provides a content security solution for service providers and their customers.

Content Technologies is headquartered in the U.K. with additional offices across the U.S.A. (Seattle, New York, Boston and Washington DC), as well as in France, Germany, Australia and Japan. The MIMEsweeper family is sold both direct and through select reseller channels made up of VARs, systems integrators and Internet Service Providers.

Baltimore Technologies, Telepathy, KeyTools, TrustedWorld, PKIWorld and Baltimore product names including UniCERT, UniCERT Options, MailSecure, PKI-Plus and J/CRYPTO are all trademarks of Baltimore Technologies plc. All other trademarks are the property of their respective owners.

Certain statements that are not historical facts including certain statements made over the course of this document may be forward-looking in nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements implied by such forward-looking statements.