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Network-1 Appoints Harry Schessel and Murray Fish to Board of Directors.

Business/Technology Editors

WALTHAM, Mass.--(BUSINESS WIRE)--July 10, 2001

Network-1 Security Solutions, Inc. (Nasdaq: NSSI), a technology leader in active intrusion prevention solutions for e-Business networks announced today the appointment of Harry B. Schessel and Murray Fish to its Board of Directors.

"These are exciting and significant appointments to our Board of Directors," said Corey Horowitz, Chairman of the Board of Directors. "Harry Schessel and Murray Fish bring the experience and insight required to fulfill our vision of leadership in security software solutions."

Harry B. Schessel is the Global Practice Leader for the Information Security Group at Kroll-O'Gara Company. Mr. Schessel has extensive experience in information security. He was recruited by the FBI in 1996 to establish and co-chair the First Monday Group (FMG). This group assisted the Computer Investigations and Infrastructure Threat Assessment Center (the precursor to the National Infrastructure Protection Center) in the development of policies and strategies to deal with the growing threat of computer crime and economic espionage.

In 1996, Schessel joined SAIC (Science Application International Corporation) as the market strategist for the Software & System Integration Group that designed and implemented information security systems for the US intelligence community. In 1997, he and several SAIC colleagues formed Centrax, Inc., a company focused on the development and marketing of intrusion detection software. Since the sale of Centrax in 1999, Mr. Schessel has been advising security companies, including Kroll, in the areas of strategy, operations, marketing and business development. Additionally, he has been retained by investment banks and venture capital firms to assess investments in the information security industry. Mr. Schessel has a Juris Doctor (JD) degree from Emory University and a Masters in Interactive Telecommunications from NYU.

In June 2001, Murray Fish was promoted to acting-President of Network-1. Mr. Fish also continues to hold the position of Chief Financial Officer of Network-1, a position he has held since May 1998. Before joining Network-1, Mr. Fish was president and CEO of RealWorld Corporation, a privately held accounting software manufacturer for PCs where he also previously held the positions of CFO and COO. Mr. Fish holds a BS from Northeastern University and a MBA from Babson College.

About Network-1 Security Solutions, Inc.

Network-1 Security Solutions, Inc. (Nasdaq: NSSI) is a technology leader in host intrusion prevention products that allow organizations to open up for e-Business. Host intrusion prevention combines the benefits of firewalls and host-based network intrusion detection allowing e-Businesses to scale the secure processing of incoming and outgoing traffic. In addition, host intrusion prevention protects critical data servers from abuses by those with "insider access" and enables the deployment of multiple layers of defense against breaches by outsiders. Additional details about the Company and its products are available at: http://www.network-1.com.

Certain of the above statements contained in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with the Company's future growth and operating results, the uncertainty associated with obtaining sufficient financing, the uncertainty of market acceptance of the Company's products, technological change, competitive factors and general economic conditions. Except as otherwise required to be disclosed in periodic reports required to be filed by companies registered under the Exchange Act by the rules of the Securities and Exchange Commission, the Company has no duty and undertakes no obligation to update such statements.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 10, 2001
Words:608
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