Global International Banking Institution Awards Contract to NetSec for Managed Security Services

Standard Chartered Bank Chooses NetSec to Deliver Device Monitoring and Incidence Response Solutions for its Global Network

HERNDON, VA, March 15, 2004 - NetSec, a leading provider of managed security services, today announced it has been selected by Standard Chartered Bank to deliver 24x7 security services.

According to Khalda Parveen, Industry Analyst at Gartner, "UK Enterprises are increasingly looking to global managed security services as an additive measure to internal capabilities."

Standard Chartered selected NetSec based on a strong track record with other global organizations and because of its feature rich and flexible service offerings. Standard Chartered will use NetSec managed services for 24x7 monitoring of security event data. Driven by flexible, scalable tools and technologies, the NetSec Finium^TM platform easily integrates with Standard Chartered's existing security devices and provides a centralized view into security events and vulnerabilities.

"As one of the world's most international banks, leading the way in Asia, Africa and the Middle East, the stringent controls around the privacy and security of customer information and the financial transactions they conduct is inherent in our business," said John Meakin, Group Head of Information Security at Standard Chartered. "The partnership approach that NetSec offers along with its Finium^TM platform and 24x7 security management solutions reinforces this goal."

"NetSec managed security services are delivered on a flexible, scalable platform with operational processes that aligned well with Standard Chartered's security requirements," said Glenn Hazard, chairman and CEO of NetSec. "We are excited about our relationship with Standard Chartered and the opportunity to provide our services as they join our growing global, financial customer base."

About NetSec

NetSec is a leading provider of managed security services for global corporations and government agencies. With a vendor-neutral approach to the lifecycle security needs of a customer, NetSec offers a suite of security services powered by Finium^TM, a co-managed platform driven by flexible technologies, proven processes and expert staff; operated via a disaster-resilient Security Operations Center. Finium^TM integrates threat, vulnerability and event information via a centralized, secure Web Console, enabling analysts and managers to better manage security as part of their business.

Five of the global 10 public corporations and nine of the 15 major departments in the executive and legislative branches of the U.S. government rely on NetSec, making it one of the fastest growing providers of managed security services. Founded in 1998, NetSec is a privately held company with headquarters in Herndon, Virginia and London. For more information, visit www.netsec.net .

About Standard Chartered

Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia , the Middle East , Africa , the United Kingdom and the Americas . It is one of the world's most international banks, with a management team comprising 70 nationalities.

Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, custody, foreign exchange, debt capital markets and corporate finance.

Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.

The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates.