Bluefire Security Technologies announced it has closed a
$6 million second-round of funding led by JK&B Capital. The funds will be used to expand business operations and commercialize the world's first mobile firewall for handheld devices following successful trials with leading
enterprise customers, wireless application providers, and system integrators.

"We were very impressed by Bluefire's unique breakthrough technology,
clear value proposition, and large market opportunity," said Marc Sokol,
Partner at lead investor, JK&B Capital. "Security for mobile and wireless
devices is a must-have requirement for enterprises and government agencies to
deploy high value, mission critical mobile applications."

Bluefire has developed patent-pending innovations to traditional firewall
and intrusion detection technologies that enable enterprise-class security for
the rapidly growing array of handheld devices such as personal digital
assistants (PDAs), smart phones, and tablet PCs. By focusing on security for
the handheld, Bluefire is addressing one of the few remaining stumbling blocks
to widespread adoption of mobile and wireless handheld devices for commercial
applications.

"Leading enterprises in healthcare, government, and other markets are
driving the mobile and wireless revolution," said Mark Komisky, CEO of
Bluefire Security Technologies. "For example, over a dozen hospital centers
are deploying or piloting mobile and wireless applications. These leaders
must address security and privacy issues before they can take full advantage
of the tremendous opportunities in areas such as bed-side diagnostic
assistance, mobile patient record retrieval, and wireless drug prescription
submission."

IDC projects the mobile security software market to hit $1 billion by 2006
(IDC #27354, July 2002). Bluefire provides a unique solution for this market
with its patent-pending firewall and intrusion detection technologies that
have been architected specifically for the stringent requirements of mobile
and wireless handheld devices.

"Security is the Achilles' heel of the mobile and wireless revolution,"
said Matthew Kovar, Director of Security Solutions & Services at Yankee Group.
"Securing the handheld device itself is a critical first step toward building
security into enterprise mobile and wireless applications; without this
trusted foundation, other security mechanisms such as IP VPNs and
authentication would be absolutely worthless."

JK&B joins first round investors Walker Ventures, Maryland Angels Council,
and Maryland Department of Business and Economic Development. Bluefire was
founded in early 2001 to focus on the critical issue of security for mobile
and wireless applications. Led by a team of veterans from the security,
Internet, and telecom markets, Bluefire has been able to rapidly develop its
key core technologies with its seed funding. With successful trials underway,
Bluefire is well positioned to capitalize on the critical security issues that
are hindering today's mobile and wireless applications market.