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SecureNet advice `ANZ takes shareholding in Securenet`

Document date:  Fri 15 Feb 2002
Published:  Mon 18 Feb 2002 00:00:00
Document No:  187152
Document part:  A
Market Flag:  N

SECURENET LIMITED                             2002-02-15  ASX-SIGNAL-G

HOMEX - Melbourne                                                     


15 February 2002 -SecureNet (ASX:SNX) has completed the first tranche
of its purchase of internationally recognised online security
software from Australia and New Zealand Banking Group Limited,
following plans announced last November. Supplementing its existing
intellectual property, the acquisition will allow SecureNet to offer
Identrus compliant and Public Key Infrastructure services from its
Canberra and Sydney based Trust Centres to financial institutions,
government departments, and corporate enterprises. Such services
offer organisations the ability to transact business over the
Internet with complete assurance of identity, confidentiality,
integrity and non-repudiation.

The acquisition will see SecureNet (a) make an initial $3.3 million
payment to the ANZ for certain assets (the first tranche), (b)
purchase additional assets to a value of $1.1 million before 30 June
(the second tranche), and (c) subject to the performance of this
business unit over the next three years make a top-up payment to
bring the cumulative cost of the assets to SecureNet to a maximum of
$10 million. The transaction has a lower up front consideration than
previously indicated to the market.

ANZ will use the current and future proceeds to subscribe for
SecureNet shares at a price of $1.29. The first payment results in
the issue of 2,544,054 SecureNet shares, giving ANZ an immediate 3.4%
shareholding in the company,

In a back-to-back services agreement involving $3.2 million in
revenue to SecureNet in the period to 30 June 2002, ANZ will be the
first client to benefit from this strand of SecureNet Trust Centre

SecureNet managing director, Geoffrey Ross says: "With the increasing
concern for online security the opportunity to roll out trust
services to government and business clients is significant, and the
relationship developed with ANZ will be beneficial for both parties."

"Our services and online security solutions now form an important
structural element of a generic Public Key Infrastructure platform,
SecureNet expects further installations with key clients in the
current calendar year."

SecureNet announced last week a three-year contract to supply a
managed firewall and Internet gateway service, as well as digital
certificates to Federal Government agency, IP Australia.


SecureNet's Trust Centres provide shared and managed security
services Infrastructure and consist of high security gateways for
hosting sensitive applications and data, backed up by accredited
network management procedures, vetted staff and contingency
processes. The services offered by the Trust Contras include
certificate issuance management. permissions management, smart card
issuance and parsonalisation, transaction authentication and acccess
control. The Trust Centres and their solutions have been accredited
by the Australian Government's Defence Signals Directorate (DSD).


An international organization formed by banks to provide a PKI for
the financial community and users of financial services. Identrus is
a means by which businesses can freely leverage the Internet to
transact with other businesses with complete assurance of Identity,
confidentiality, Integrity and non-repudiation of online agreements
and transactions. Over 50 truly global financial institutions are now
Identrus partners.

Issued by Pacific Strategies on behalf of SecureNet Limited. For
further Information:

Natalie Clayton                     Diane Olsson
Pacific Strategies                  Marketing Manager, SecureNet
Tel: +61 (0)2 9955 7877             Tel: +61 (0)3 8696 9400
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