BindView Development Corporation to Acquire Netect Ltd., Developer of Internet Security Technologies.

HOUSTON--(BUSINESS WIRE)--Feb. 1, 1999--

Leading Systems Management Vendor to Integrate Award-Winning

Internet Security Scanner into Enterprise Management System

BindView Development Corporation (NASDAQ: BVEW), a leading supplier of security assessment and systems management software, today announced that it has entered into a definitive purchase agreement to acquire Netect Ltd., headquartered in Framingham, Massachusetts. Netect, founded in 1996, is a provider of anti-hacker software solutions that identify and close security holes to prevent internal and external network intrusions, including attempts to hack into a network via the Internet. As a result of the forthcoming acquisition, BindView plans to integrate Netect's HackerShield into the company's award-winning BindView EMS family of systems management products. This combination of products will give BindView the ability to assess and manage internal and external security threats, providing organizations with a greater level of protection from security threats.

"The addition of HackerShield will allow BindView's security offering to extend beyond the operating system and reach the network level," stated Eric Pulaski, President and Chief Executive Officer of BindView Development Corporation. "HackerShield probes, identifies and closes holes that hackers use to break into Internet firewalls, network servers, web servers and all other IP devices."

"HackerShield will become an integral part of BindView's security product portfolio and will further extend the company's ability to provide comprehensive solutions for security, configuration, asset and availability management environments," said Paul Blondin, President and CEO of Netect, Ltd. "This is what customers have been asking for -- an integrated portfolio that spans the full range of security risks that develop daily as a result of technology changes and expanding business requirements."

Under the terms of the agreement, BindView will acquire all of the outstanding stock of Netect for approximately 1.4 million shares of BindView common stock upon the satisfactory completion of closing conditions. This acquisition is expected to be accounted for as a pooling of interests.

"This acquisition makes a lot of sense. It brings attention to the fact that BindView is clearly in the security market," stated Steve Foote, Vice President, Research Strategy/Director of Hurwitz Consulting Group. "The synergy between product capabilities and sales channels gives BindView an advantage in markets that other traditional security companies have not been able to sell in to, LAN and System Administrators."

Easy-to-Use Anti-Hacker Software Solves System Integrity Issues

HackerShield is the most intuitive network security scanning product available today, providing the ability to safeguard a company's systems, servers and corporate data from the increasing number of hacker attacks. By deploying HackerShield, organizations create a network-computing environment that is protected against threats to the confidentiality, integrity and availability of information.

The incorporation of Netect's HackerShield extends BindView's award-winning security portfolio. This will allow the company to deliver easy-to-use products that manage the security and integrity of desktops and IP devices such as servers, switches, routers and hubs - across a distributed enterprise network. HackerShield provides users with some distinct advantages:

--   An easy-to-use interface that presents specific details about
     existing security holes and how to fix them, thus benefiting all
     levels of IS professionals as well as security consultants and
     auditors.

--   Rapid Fire Updates(TM) - an exclusive feature that provides fast
     and automatic updates for detection of the latest security hacks.
     Unlike other Internet/network security scanning products,
     HackerShield does not require new security updates to be manually
     downloaded. It also does not require the entire application to be
     reinstalled. Instead, new network security updates can be
     integrated automatically, helping to ensure that customers are
     quickly protected against the latest hacker techniques. Within
     the past 90 days, Netect has delivered approximately 200 new
     network security checks automatically to users.

--   Access to Netect's world-class team of security experts that
     uncovers and monitors the latest hacker techniques and finds fast
     and accurate ways to protect against them.

--   User-configurable automatic elimination of security holes.
     HackerShield users can determine which security holes should be
     automatically fixed dramatically reducing the time it takes to
     close them.

-    Binary Integrity Checking that warns of changes to system files,
     possibly from a hacker.

"Many of my clients require a vulnerability scanner to help secure their networks. After I compared HackerShield to all the major security scanning products, I found that HackerShield offers significant value to my clients regardless of whether they are a Security Expert, Security Auditor or a Network Administrator," stated, Thomas Waszak, Principle Information Security Consultant of Xerox Connect's Cleveland based Information Security Practice. "It's ease of use, regular and automated vulnerability database updates, and easy to understand reports make it a product I find very easy to recommend to my clients. We use it exclusively for NT vulnerability assessments." Netect's development group and team of security experts will join the Research and Development group at BindView. In addition, Paul Blondin will become a member of BindView's Board of Directors. BindView will honor all Netect client contracts and support agreements, as well as maintain and further develop Netect's existing strategic partnerships.

About BindView

BindView Development Corporation develops, markets and supports a suite of systems management software products that manage the security and integrity of complex, distributed client/server networks operating on Microsoft Windows NT and Novell NetWare environments. The Company's primary product line, BindView Enterprise Management System, provides software solutions for systems administration, security management, enterprise inventory of LAN assets and Year 2000 assessment of PC hardware and software. The company can be reached at [phone] or at [phone]. The company can also be contacted via e-mail at [e-mail] and on the World Wide Web at http://www.bindview.com.

Netect Ltd.

Netect was established in 1996 with the mission of providing a secure computing environment where all users are protected against hackers breaching the confidentiality, integrity and availability of information. Netect provides the mass technical audience with anti-hacker software aimed at reducing the risk of network intrusions from both internal and external sources. Netect is a member of the Microsoft Security Partner Program (NASDAQ: MSFT), the Sun Development Program (NASDAQ: SUNW) and Dell's Direct Effect Program (NASDAQ: DELL). Additional information about Netect is available at http://www.netect.com or call 1-888-2-NETECT.

Safe Harbor Statement

Statements in this news release ending with an asterisk are "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although BindView believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward-looking statements will prove to be correct. Factors that could cause actual results to differ materially from BindView's expectations include, among others: integration of newly-acquired companies and products (specifically, the purchase of Netect described above); competition within the network management software industry; rapid technological change; BindView's development of and the market's acceptance of new products; as well as the risks, uncertainties and other factors described from time to time in BindView's periodic filings with the Securities and Exchange Commission.

Editors Note: BindView is a registered trademark of BindView Development Corporation. Netect, HackerShield, RapidFire Update and Anti-Hacker Software are registered trademarks of Netect, Ltd Other company and product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.