F-Secure Launches a Wireless Security Competence Center by acquiring Modera Point Oy in Oulu, Finland

ESPOO, Finland,April 3, 2000 – F-Secure Corporation a leading provider of centrally-managed, widely distributed security solutions, today agreed to acquire privately-held Modera Point Oy of Oulu, Finland. Modera Point develops solutions on new mobile platforms. The employees of Modera Point will form F-Secure’s new Wireless Security Competence Center.

This acquisition strengthens F-Secure’s strategy of extending its leading security architectures into the wireless space. F-Secure will gain approx. 20 developers trained and proficient in the EPOC operating system environment.

Under the terms of the contract, 141,493 shares of F-Secure stock (with a corresponding value of EUR 10.6 million based on March 31^st closing price) will be exchanged for all outstanding shares of Modera Point.

“Acquiring Modera Point is a logical step in further strengthening our position as the architectural leader of pervasive security solutions. Through this acquisition we gain know-how in the primary wireless platforms of the future,” says Risto Siilasmaa, President and CEO of F-Secure. “The acquisition is also a result of our strategy to expand our R&D operations to new locations. The city of Oulu was a logical choice since it is a booming R&D centre for the wireless and mobile environment.”

“F-Secure was a good choice for Modera Point to team up with, ” says Jari Still, CEO of Modera Point. “We share the same vision of the future of wireless computing, and together we can be extremely powerful in providing security solutions in that domain.”

Modera was founded in 1982. The Company’s headquarters are in Oulu, Finland, and the Company has a subsidiary, Modera Point Inc., in San Jose, California. These two companies employ 24 staff. Modera Point will form the kernel of the new F-Secure Wireless Competence Center. Modera Point’s CEO, Mr Jari Still, will lead the team that will be a part of F-Secure’s Research and Development unit.