CyberGuard Begins Trading on the NASDAQ Stock Market; Company's New Ticker Symbol Is CGFW.

Business Editors/Political Writers/High-Tech Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 8, 2003

CyberGuard Corporation (Nasdaq:CGFW), formerly (AMEX:CFW), the technology leader in network security, today announced that the company's securities will begin trading on The NASDAQ Stock Market under the ticker symbol "CGFW," when the market opens this morning. To celebrate its listing on NASDAQ, CyberGuard chairman and CEO Scott Hammack will join NASDAQ's CEO Bob Greifeld at the NASDAQ MarketSite in Times Square to open the market on Monday, July 14, 2003.

Mike Matte, chief financial officer of CyberGuard, stated, "Our move to NASDAQ marks another significant milestone for the company and for our shareholders and we are proud to join the other category leaders listed on NASDAQ. Our progress has been steady over the past two and a half years. We're in the strongest cash position in the history of our company and remain virtually debt-free. We've posted six profitable quarters in a row. We believe that the investment community is beginning to take notice and we look forward to the higher visibility a NASDAQ listing will bring."

"We look forward to helping CyberGuard increase its visibility with the investment community through their NASDAQ listing and to helping them celebrate many more milestones," said Bruce Aust, Executive Vice President of NASDAQ's Corporate Client Group.

Investors who hold CyberGuard stock certificates do not need to exchange them for new certificates, as that change will occur automatically when the securities are sold.

About CyberGuard Corporation

CyberGuard Corporation, the technology leader in network security, provides enterprise and electronic commerce security solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award winning firewall/VPN products and services protect the integrity of data and applications from unauthorized access. CyberGuard's appliances, which include SL, KS, FS and LX models, hold Common Criteria Evaluation Assurance Level 4+ (EAL4+) certification, the most prestigious and rigorous IT security evaluation available. The company has world headquarters in Ft. Lauderdale, Florida, and branch offices worldwide. More information on CyberGuard Corporation can be found at http://www.cyberguard.com.

Forward-Looking Statements

Statements regarding estimates, expectations and future prospects contained in this press release are forward-looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments, and other factors the Company believes are appropriate in the circumstances, or information obtained from third parties, and are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements are not guarantees and that actual results might differ materially from those suggested in the forward-looking statements. Some of the factors that might cause future actual events to differ from those predicted or assumed include: future advances in technologies and computer security; the Company's history of losses; the Company's ability to execute on its business plans; the Company's dependence on outside parties such as its key customers and alliance partners; competition from major computer hardware, software, and networking companies; uncertainties in availability of expansion capital in the future and other risks associated with capital markets; overall network security spending; global economic conditions; and the outcome of a class action lawsuit against the Company. For a more complete discussion regarding forward-looking statements, the reader is referred to the Company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, including the Form 10-K for the fiscal year ended June 30, 2002, and other information filed with the Commission.