Scotts Valley, Calif., March 24 — “The Cybersecurity Act, S773, approved this week during a Commerce, Science, and Transportation Committee hearing and now on its way to the U.S. Senate to becoming a long-overdue law will put the nation on a much stronger footing to protect the country’s vulnerable computer network infrastructure against cyber crime, cyber attacks and cyber espionage,” stated Kendall Larsen, Chairman, President and CEO of VirnetX Holding Corporation (NYSE Amex: VHC)
About the comprehensive, bipartisan cybersecurity legislation co-sponsored by Sen. John (Jay) Rockefeller IV (D- W.Va.) and Sen. Olympia Snowe (R- Maine) Mr. Larsen said: “VirnetX appreciates the senators’ leadership in this critical security challenge that encourages collaboration between the federal government and companies in the private sector that maintain the security of our infrastructure. As families, businesses and the government face increasingly sophisticated cyber threats, the provisions in this bill create a powerful framework for the public and private sectors to proactively work together to revise cybersecurity processes and facilitate public-private partnerships to keep computers secure. The country’s civil liberties, intellectual properties and business proprietary information are at stake. It’s critical that the bill is enacted by the Senate as soon as possible.”
The Rockefeller-Snowe Cybersecurity Act was introduced last April and then re-introduced last week with some important changes. The National Cybersecurity Advisor Act, S. 778, which is companion legislation pending before the Senate Committee on Homeland Security and Government Affairs, would create a Senate-confirmed National Cybersecurity Advisor within the Executive Office of the President.
VirnetX Holding Corporation, a secure real-time communications and collaboration technology company, is engaged in commercializing its patent portfolio, derived from a Central Intelligence Agency security project, by developing a licensing program, as well as developing software products designed to create a secure environment for real-time communications such as instant messaging and Voice over Internet Protocol. The Company’s patent portfolio includes over 48 U.S. and international patents and pending applications that were recently declared as essential for 4G security specifications and provide the foundation for the Company’s unique GABRIEL Connection Technology. For more information, please visit www.virnetx.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including those under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2009 and most recently in the Company’s Quarterly Report on Form 10-Q filed with the SEC on November 9, 2009.
VirnetX Holding Corporation