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VISA DINERS CLUB & MASTERCARD REPRESENTATIVE IN ISRAEL CHOOSES MEGANET TO SECURE ITS COMMUNICATIONS USING MEGANET'S VME FOR DATA ENCRYPTION

JANUARY 25, 2002

ENCINO, Calif. - January 25, 2002 - CAL Company, the leading representative of VISA, Diners Club & MasterCard in Israel, is using the VME Technology by Meganet Corporation to encrypt information being transferred in the Point-to-Point communications with some of the commercial bodies working with CAL. 

Avi Terner, the chief data security officer at CAL, says: "After checking various systems for data encryption, the VME system was found to be the reliable, secure and most suitable to the needs of CAL to transfer certain data files to different banking institutes. 

“There are many offerings Meganet can provide for the financial and banking industry" stated Saul Backal, Chief Executive Officer of Meganet Corporation. "Encryption is a vital component enabler for any e-commerce, communication and storage solution. We are happy to provide our services in this lucrative market."  

According to Avi, CAL considers it very important to encrypting information and broadcasting it in a fast, efficient and secure manner, and is using various encryption systems according to their business needs.

About Meganet

Protecting data, communications, and assets. Meganet Corporation is a client-focused data and communications security company committed to the continual development of revolutionary technologies and innovative information security solutions. Meganet has developed a revolutionary symmetric encryption algorithm coined as Virtual Matrix Encryption (VME). The power of VME results from a unique data mapping technology that creates exceptionally random cipher text and from its ability to use up to a million-bit key. Meganet aims at propelling VME to be the industry's standard for encryption. Established in 1997, Meganet is a privately held California corporation headquartered in Los Angeles, Calif., with offices in New York and Oregon. (URL: http://www.meganet.com)

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