LOS ANGELES, May 3, 2005 (PRIMEZONE) -- InterCommerceCorp (Pink Sheets:ICMC) has today announced that Mr. Glen Day has been appointed as CEO of the CipherPass Corp and will assume the role as CEO of the combined public company immediately upon completion of the pending merger/acquisition previously announced on April 26, 2005.
Mr. Day will also hold an active seat on the Board of Directors of the combined public company to be called CipherPass Corp. Mr. Day recently commented, "I'm extremely excited about joining CipherPass. I truly believe that the company's unique C-safe software suite and services have the potential to unlock the multi-billion dollar, nascent digital security market by delivering simple but very effective security solutions. C-safe takes electronic trust and privacy to new levels."
Since 2002, Mr. Day held the federally mandated position as the first Chief Privacy Officer for the County of Los Angeles in which he led the County's privacy compliance initiatives for the protection confidential information. With a strong emphasis on health and financial data, he was instrumental in implementing privacy policies and recommending applicable technical solutions to effectively safeguard sensitive information. His efforts directly impacted over 30,000 staff in 5 major departments, including all County hospitals and mental health clinics.
Previously, Mr. Day was a Senior Associate with Booz-Allen-Hamilton where he assisted the Navy in the information security design and implementation of its new $7 Billion classified IT infrastructure. While at Accenture, he was the lead technical and security advisor for various Fortune 1000 companies and federal agencies, which included Cable & Wireless, Best Buy and the State Department. Mr. Day also held the positions of Vice President of Networks/Chief Security Officer and Senior Director of Operations for two well-funded Internet startups. Additionally, he is a Commander in the US Navy Reserves supporting the Fleet Information Warfare Center in Coronado, CA.
Mr. Day is a graduate from the University of Southern California with a Bachelors of Science in Applied Mathematics. He holds a Master of Science in Management Information Systems from the Naval Postgraduate School (Monterey, CA).
About CipherPass Corp.
CipherPass Corp. (CipherPass), which earlier announces that it is being merged into InterCommerceCorp, is a digital security technology company that provides enterprise-class security solutions. Through its product and service portfolio, CipherPass enables businesses to securely share sensitive or confidential electronic information among internal staff, as well as with their business associates and customers. VeriSign (Nasdaq:VRSN), the world leader in the management and distribution of trusted digital certificates, is a strategic partner. The CipherPass and VeriSign relationship offers a cost-effective approach for deploying and managing digital certificates. CipherPass' C-safe security suite helps to simplify the process of users securing and sending private digital data within files and emails. C-safe is an effective solution for addressing companies' privacy and security compliance initiatives for HIPAA, Sarbanes-Oxley, GLBA and SB1386. For additional information regarding CipherPass Corp., please visit www.cipherpass.com.
About InterCommerceCorp.
InterCommerceCorp is currently traded on the OTC (ICMC) and recently announced that it has signed an agreement to acquire 100% of the outstanding shares of CipherPass Corp. It is reorganizing its current operating subsidiaries and will change its name to continue operations as CipherPass Corp. InterCommerceCorp/CipherPass is a part of the global venture banking and investment portfolio of FutureVest, Inc. (Pink Sheets:FTVT).
Statements in this release are "forward-looking statements." Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, acceptance of the company's products, significant levels of competition for the company and dependence on the performance of the management of the company.