SiVault Systems Names New CFO.

NEW YORK -- SiVault Systems Inc. (OTCBB: SVTL) today announced the appointment of Mr. Scott Moulson as Chief Financial Officer.

Most recently, Mr. Moulson spent 5 years as Financial Manager and Six Sigma Project Manager at Pitney Bowes Management Services, a division of Pitney Bowes, Inc., a Fortune 500 Company and the world's leading source of integrated mail and document management solutions. At Pitney Bowes, Mr. Moulson was responsible for providing financial leadership to accounts within his region, strategic sales and operations planning and budgeting, ensuring GAAP and Sarbannes-Oxley compliance, and for driving bottom line growth.

Prior to the most recent position with PBMS Scott held the position of Canadian and Midwest US Regional Financial Analyst at Danka Services Inc, a division of Danka, PLC from November 1997 until 2001 when that Company was acquired by PBMS. Before joining PBMS, Scott was Vice President, Finance for Future Steel Buildings Ltd, a privately owned manufacturer of arch-type steel buildings with sales across the United States and Canada.

Dick Moore, President and chief executive officer, stated, "Scott brings a wealth of financial and management experience in the software and documentation industry. He has an impressive record of managing all financial aspects of a Fortune 500 company. With Scott's extensive financial expertise, leadership skills, and experience, I am extremely confident in the future of SiVault."

Scott holds an MBA from the University of Ontario, a Bachelor of Commerce from Concordia University and is a Chartered Accountant.

About SiVault: The Company provides next generation secure access management software for comprehensive, fine-grained access control to information distributed over any network topologies. It allows authorized users to access protected information safely and securely, online or offline. The SiVault software, known as SiSeal, is unique among security technologies in that it secures the data so that it can be freely distributed anywhere yet provides centralized administration to manage and maintain who can access what information at any time. This provides for an effective way to enforce enterprise security policies on computer systems as it reduces the complexity and cost of security administration.

This approach to securing data combined with role based access control provides tremendous leverage in efficiently managing and handling secure documents across large numbers of users. This is especially important with the ever-increasing complexity surrounding compliance such as HIPAA and Sarbanes-Oxley. As a result, SiSeal's scalable architecture provides dramatic cost savings, especially when compared to PKI -based systems.

SiSeal's architecture is based on a suite of fully integrated products intended to interoperate as a single solution. Our role based encryption, role based access control and biometric authentication components provide significant value over competitive solutions, such as the ability to provide simultaneous read/write access to data across multiple users.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. This news release may contain forward-looking statements relating to the success of any of the Company's strategic initiatives, the Company's growth and profitability prospects, the benefits of the Company's products to be realized by customers, the Company's position in the market and future opportunities therein, the deployment of SiVault products by customers, and future performance of SiVault Systems Inc. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC). You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.