Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CyberGuard Corp. (CYBG) -- Ignore unavailable to you. Want to Upgrade?

To: G. Thomas Kaiser who wrote (2553)	3/13/2000 5:34:00 PM
From: Sal Davis	Respond to of 2616

Sales Expansion! :-) 3/13/00 - CyberGuard Corporation Announces Mideast Expansion Strategy - Mideast Data Systems and M. M. Al-Rumaih Est. (MMR) t FT. LAUDERDALE, Fla., Mar 13, 2000 /PRNewswire via COMTEX/ -- CyberGuard Corporation (OTC Bulletin Board: CYBG) a leading provider of network security solutions, today announced that it has formed an alliance with Mideast Data Systems (MDS) and Muhammed Mansour Al Rumaih Est. (MMR), to become the exclusive distributor of CyberGuard products for the Kingdom of Saudi Arabia. The agreement, which calls for a commitment of $1 million following an original order of $450,000, is part of CyberGuard's expansion strategy for the Mideast. As part of that initial commitment, one of the leaders in the financial sector in Riyadh will now utilize CyberGuard's firewall technology. It is the first of such magnitude in the security sector of Saudi Arabia. "Our agreement with MDS and MMR is part of our strategy to increase shareholder value by putting a focus on international expansion and tapping into new markets," said CyberGuard chief executive officer David Proctor. "We have had great success in the UK and Europe which is allowing us to capitalize on other opportunities abroad." "Partnering with CyberGuard gives MDS and MMR the ability to offer its customers the strongest firewall security systems available," said managing director Clement Maamarbachi from MDS Saudi Arabia. "With a state-of-the-art product, through highly qualified R&D and cutting-edge technology, CyberGuard has proven to be a market leader." This agreement represents the first step in CyberGuard's expansion into the Middle East. The company currently has nine domestic offices as well as operations in the United Kingdom, France and Germany. About MDS MDS is a group of companies operational in the Middle East, Africa, Europe, East Europe, Central Asia and Canada. The Group was established in Lebanon in 1967 and has since, specialized in the supply and installation of computer equipment, electronics, telecommunications, data communications and site preparation. The enormous growth of MDS Group is mainly attributable to management's commitment in providing consistently professional services and support regardless of the size of the project. The company's attention to detail has been the fundamental philosophy of MDS and the main contributing factor in achieving the size and reputation, which MDS now enjoys. It is the key element that has allowed the group to span its operation from Canada to Kazakhstan, with specific emphasis on the Middle East market. With its headquarters now located in Paris, MDS has been able to achieve annual revenues of around 300 Million U.S. Dollars and now employs a total of 1,250 employees dedicated to serve its clients. More information on MDS can be found at mdsholdings.com. About CyberGuard Corporation CyberGuard Corporation is a leading provider of enterprise security and electronic commerce solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award winning, industrial-strength firewall products and services protect the integrity of data and applications from unauthorized access. The company has world headquarters in Ft. Lauderdale, Florida and branch offices worldwide. More information on CyberGuard Corporation can be found at cyberguard.com. Forward-Looking Statements Statements regarding estimates and future prospects contained in this press release are forward-looking statements. These statements are based upon assumptions and analyses made by the Company in light of current conditions, future developments, and other factors the Company believes are appropriate in the circumstances, or information obtained from third parties, and are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that forward-looking statements are not guarantees and that actual results might differ materially from those suggested in the forward-looking statements. Some of the factors that might cause future actual events to differ from those predicted or assumed include: future advances in technologies and computer security; the Company's history of losses; the Company's ability to execute on its business plans; the Company's dependence on outside parties such as its key customers and alliance partners; competition from major computer hardware, software, and networking companies; uncertainties in availability of expansion capital in the future and other risks associated with capital markets; the outcome of purported class action lawsuits against the Company; and recent changes in management. For a more complete discussion regarding forward-looking statements, the reader is referred to the Company's periodic reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, including the Form 10-K for the fiscal year ended June 30, 1999, and other information filed with the Commission. CyberGuard Firewall is a trademark of CyberGuard Corporation. All other trademarks are property of their respective owners. SOURCE CyberGuard Corporation (C) 2000 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Cynthia Sucher of CyberGuard Corporation, 954-958-3886, csucher@cyberguard.com; or Scott Shapiro of Schneider Integrated, 212-402-5455, scott@schneiderintegrated.com, for CyberGuard