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MEGANET HOLDS A $100,000 CHALLENGE DURING THE 1999 COMDEX TRADE SHOW AT THE LAS-VEGAS CONVENTION CENTER

NOVEMBER 15, 1999

TARZANA, Calif., Nov. 15 /PRNewswire/ -- Meganet Corporation, the company that challenged Microsoft, Intel, Dell, AT&T and NCR with their unbreakable encryption, has issued an ongoing $100,000 cash challenge held throughout the 5 day event at COMDEX.  Challengers will have access to 7 terminals and the opportunity to crack into a file protected by Meganet's 
Virtual Matrix Encryption (VME).  The Meganet exhibit will be located in the Main Hall at booth #L5019. 

This latest challenge -- the first of its kind at COMDEX -- comes on the heels of another challenge Meganet is conducting.  In a direct response to the students and faculty of Virginia Technical Institute, Meganet wagered a brand new 2000 Porsche 911 with the condition that winner takes all.  With less than one month remaining,  over 250 entrants from the school have been unable to break into a simple file  protected by VME.  Meanwhile, at COMDEX, challengers should get the incentive to give it their best try -- since actual cash will be circulating within a sealed, windowed enclosure.

Meganet is clearly confident that it holds the world's only unbreakable encryption algorithm.  In fact, in an independent academic test... encryption expert, Professor Frank Feldman performed critical testing on the VME encryption system.  In brief, Professor Feldman concluded "One round of the
VME algorithm is as random as 16 rounds of the DES."  You can read the entire test results at http://www.meganet.com.

Some of Professor Feldman's previous works include:
F. A. Feldman, "Fast Spectral Tests for Measuring Nonrandomness and the DES," In C. Pomerance, (ed,) in Advances in Cryptography, Proceedings of '87,
pp 243-254.  SpringerVerlag, Berlin, 1987.
F. A. Feldman "A New Spectral Test for Nonrandomness and the DES," IEEE Trans.  Software Eng. vol 16, no.3, pp 261-267, Mar 1990.

This latest endorsement adds to a growing list of academic and corporate de facto endorsements Meganet is receiving.  Meganet Corporation has a US patent pending for VME in 72 countries.  The technology uses a new field of encryption and a new algorithm to encrypt data that is completely different
from any existing methods.  VME is the only algorithm that neither encrypts the data nor transfers it.  By comparing the data to a randomly generated Virtual Matrix, a system of pointers is created, pointers which are meaningless outside the context of the matrix to which they belong.  The result is then repeatedly encrypted through a huge variety of algorithms.  Even in the unlikely event of the algorithms being compromised, the set of pointers is completely unrelated to the original data, and there is no way to derive the original data out of the pointers set.  Virtual Matrix encryption paired with a 1 Million Bit Symmetric Key creates the world's strongest encryption algorithm.
More information about Meganet Corporation and the Virtual Matrix Encryption can be found at: http://www.meganet.com


SOURCE Meganet Corporation
Web Site: http://www.meganet.com
Company News On Call:
http://www.prnewswire.com/comp/127366.html or fax, 800-758-5804,
ext. 127366

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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