Thor Technologies Announces Multiple New Enterprise Customers

Among the companies joining Thors customer roster, which includes Lehman Brothers and Nextel Communications Inc., are a global management consulting firm; BankWest in Australia; a large European retail bank; Computer Sciences Corp.; a Pacific Rim government agency; and MphasiS -- all world-class organizations that have adopted Thors Xellerate® software for their secure enterprise provisioning and identity management requirements. Most of these deals were influenced or closed with strong support from technology and system integrator partners such as RSA Security, MphasiS, and Booz Allen Hamilton. Thors Q1 and Q2 2004 sales grew by more than 350 percent, compared with Q1 and Q2 2003. To support this aggressive growth, Thor has recently opened new offices in Atlanta, Georgia; Los Angeles, California; and Noida, India. In a separate release, issued today, Thor announced the launch of Xellerate® Identity Manager 8.0 and new Audit & Compliance and Password Management solutions. Thors enterprise customers share a common goal of ensuring maximum enterprise security and regulatory compliance. By deploying Xellerate to automate the administration of user access rights and privileges to enterprise IT resources, organizations significantly lower costs and strengthen security by streamlining what were previously labor-intensive, error-prone business processes. Additionally, Xellerate enables the capture and auditing of critical information about users and the IT resources they can access, building into the IT infrastructure the level of accountability required to comply with internal security policy and external regulations such as HIPAA and Sarbanes-Oxley. Strategic Partnerships Fuel Growth With ongoing strategic support from top-notch technology and system integrator partners, including RSA Security, Booz Allen Hamilton, MphasiS, Oracle Corp., BEA Systems, Mycroft Inc., GeoBridge, and the PathMaker Group, Thor is poised to continue its rapid growth in the secure enterprise provisioning market. Thor currently has over 100 third-party professionals trained and certified to deploy Thors Xellerate solution across enterprises around the world. Customer Growth and Cash Infusion Supports Expansion The addition of several new enterprise customers over the last six months and a successful equity financing of $15 million in January 2004 makes Thor well positioned to support its aggressive product innovation roadmap and market expansion goals. In an effort to support global customers, Thor recently opened offices in Noida, India; Los Angeles, California; and Atlanta, Georgia; expanding the companys global presence to six offices on three continents.