Baltimore Technologies announces Public Offering and Nasdaq listing.

LONDON--(BUSINESS WIRE)--September 29, 1999--

Baltimore Technologies plc (London:BLM) today announced a public offer within the US and Canada of American Depository Shares (ADSs) with a related quotation of the ADSs on the NASDAQ National Market under the trading symbol BALT.

The offering price for up to 8,500,000 shares will be set at the end of a book-building process, on or around 26 October 1999. The managing underwriters of the offering are Lehman Brothers Inc. and Merrill Lynch International.

Baltimore Technologies is an international provider of information security products and services that enable businesses to conduct secure communications and transactions over computer networks. Baltimore's electronic security products and services enable their customers to conduct electronic business securely and to interact more effectively with their customers, suppliers and partners. Baltimore's products are used worldwide by leading organizations across a variety of industry sectors including banking, finance, government and e-commerce.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Copies of the prospectus relating to the offering may be obtained from: Lehman Brothers Inc., 3 World Financial Center, New York, NY 10285 [phone]; Merrill Lynch & Co., World Financial Center, 250 Vesey Street, New York, NY 10281 [phone].