CYBER-ARK UNVEILS NORTH AMERICAN CHANNEL PROGRAM

Extensive Training and Support Helps VARs and System Integrators Deliver Vaulting-based Security Solutions to Protect and Share Vital Company Data

Dedham, MA - March 31, 2003 - Cyber-Ark Software Inc., the information security software company that invented and markets Vaulting Technology, today unveiled its North American channel program. The Value Added Reseller Program offers all the software, training and support required for value-added resellers (VARs), and system integrators to deliver Vaulting-based solutions that create safe havens for protecting and sharing vital business information across the extended enterprise.

"In just a few months, Cyber-Ark has dramatically grown its channel program and number of partners to meet the growing demand for Vaulting-based security solutions," said Ed Gregory, president of Cyber-Ark. "As companies struggle to protect and share vital company information, Cyber-Ark is working with a select group of VARs and system integrators that have embraced the next generation of cost-effective, transparent security solutions that won't disrupt user productivity or break the budget."

An impressive group of channel partners have already joined the program, including e-DMZ Security, Gotham Technology Group, Laurus Technologies, National Business Group, NextGen Internet, Nexum, Omega Network Services, Stenstrom Scientific, and SynerComm Inc.

"We are pleased to add Cyber-Ark's Inter-Business Vault and Network Vault to our security offerings," said Gregory Stenstrom, CEO of Marlton, NJ-based Stenstrom Scientific. "Cyber-Ark has given us the ability to extend our security practice with its innovative Vaulting Technology. This offering will enable us to introduce Vaulting Technology to our enterprise customers, who need to securely store and share critical information with their business partners and customers, while complementing their current security solutions."

Rather than trying to protect the entire enterprise, Cyber-Ark provides a safe haven, highly secured regardless of overall network security, where information can be stored and shared. Cyber-Ark's patented Vaulting Technology substantially decreases costs, improves security, and enhances the performance associated with sharing information internally, with business partners and with remote offices.

"Many of SynerComm's customers currently have issues with intellectual property theft ranging from customer lists to trade secrets," stated Kirk Hanratty, vice president and CTO of Wisconsin-based SynerComm Inc. "Customers realize that they can't afford to protect all resources equally. Cyber-Ark's Vaulting solutions allow customers the unique option of storing their valuables both securely and economically."

"With Nexum's focus on providing security solutions for Fortune 500 companies, we have found a business problem that only Cyber-Ark's Vaulting Technology can solve," said David J. Lesser, president of Chicago-based Nexum Inc. "Vaulting Technology allows us to provide our large multinational insurance and banking customers with a secure electronic means to audit, store and share files in a transparent way."

About Cyber-Ark's North American Channel Program

Cyber-Ark's Value Added Reseller Program is comprised of two levels designated as Premier and Authorized, which are based on the Channel Partner's sales commitments and engineering certifications. Both program levels offer demo product programs, product and channel communications updates, technical training and certification, and joint marketing and lead-generation programs. To qualify as a certified Cyber-Ark Channel Partner, candidates must meet organizational and technical requirements, including technical training. For more information or to join the program, go to http://www.cyber-ark.com/partners/resellers.htm.

About Cyber-Ark

Cyber-Ark Software Inc., is the leading provider of Vaulting security software that leverages its unique patented Vaulting Technology to create safe havens for securing and sharing vital company information. The Company's award-winning Network Vault and Inter-Business Vault solutions enable a truly secure extended enterprise by providing an infrastructure that allows for completely transparent, yet totally secure, intra- and inter- business communications. Today Cyber-Ark enjoys strong customer relationships with over 50 Global 1000 companies around the world.

Founded by a group of leading military security experts and computer engineers, Cyber-Ark Software is privately held and backed by some of the world's most successful venture capitalists, including Jerusalem Venture Partners, Seed Capital Partners (a SOFTBANK Affiliate), JP Morgan/Chase Partners, Vertex Management and Nomura International Plc.

The Company is located in Dedham, Mass. and on the World Wide Web at www.cyber-ark.com

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Cyber-Ark, Network Vault, Inter-Business Vault, and Vaulting Technology are trademarks of Cyber-Ark Software Ltd. in the U.S. and/or other countries.
All rights reserved.

Contacts:
Richard April
Cyber-Ark Software, Inc.
781-251-0670
richard.april@cyber-ark.com

Siobhan Gallagher/Avi Dines
Schwartz Communications, Inc.
781-684-0770
cyber-ark@schwartz-pr.com