CoreStreet Bridges Gap between Physical and Information Security with New Patents; Revolutionary Solution Combines Security, Safety and Convenience for Real-Time Credential Validation.

Business Editors/High-Tech Writers

BOSTON--(BUSINESS WIRE)--Feb. 18, 2003

CoreStreet, Ltd., a leading provider of authorization and validation technology, today announced that it has received two new patents. The U.S. Patent and Trademark Office has issued patent number 6,487,658 to the company and the European Patent Office have issued patent EP 0858702. These patents are two of 14 patents that enable CoreStreet to provide real-time security to companies in order to reduce the time, cost and complexity of providing authorization to secure sites--be they online or in the physical world.

"In the past, security solutions were difficult--or in the case of an intermittently connected environment such as an airplane--impossible to implement, leaving many environments wide-open to theft or unauthorized access," said Phil Libin, president of CoreStreet. "CoreStreet is the first company to bridge the gap between security, safety and convenience to easily and cost-effectively secure the access to buildings, computer networks, laptops or wireless devices in real-time."

For example, according to the Computer Security Institute, 57 percent of computer crime is related to stolen laptops--which are often impossible to secure because they operate in an intermittently connected environment. CoreStreet's technology allows a network administrator to grant or revoke an employee's access to a computer in real-time because of theft or employee termination, ensuring immediate security and safety in a convenient and cost-effective format.

In addition to laptop security, CoreStreet solves a growing problem as, according to DataQuest, the overall smart card market is expected to reach $3.2 billion by 2004. With millions of cards being issued this year alone, the ability to manage the approval or revocation of those cards is becoming increasingly difficult. The heart of CoreStreet's security technology is based on preventing unauthorized access to a corporate laptop or a building in real-time, eliminating the need for, and unreliability of, the removal of the physical ID cards which often happens days, weeks or even months after termination.

These recently issued patents represent the latest successful benchmark in the evolution of core technologies at CoreStreet. With 12 previously awarded patents, CoreStreet is continuing to bring security, safety and convenience to the security sector by bridging the gap between the physical and digital world. CoreStreet's patent portfolio is centered on the concept of self-validating proofs. Silvio Micali, CoreStreet's chairman and chief scientist invented these latest patents. Micali, an MIT professor and world-renowned cryptographer, is known by many as the father of the modern theory of proof systems.

About CoreStreet

Bridging the security gap between physical and information security, CoreStreet provides the only secure authorization and validation technology for connected and intermittently connected environments. Combining security, safety and convenience, CoreStreet enables organizations to grant or revoke an individual's access rights to a building, computer network, laptop or wireless devices immediately in real-time. The company, headquartered in the Boston area, holds 14 patents with more pending. For more information, visit www.corestreet.com.