Press Releases

Armorpoint Appoints Gary Shields Chairman and Chief Executive Officer

Highly Accomplished Industry Veteran Leads Business Growth and Expansion for Pioneer in On-Demand Identity Theft Management

SAN DIEGO, CA – October 5, 2006 — Armorpoint, a leading provider of on-demand identity theft management solutions, today announced the appointment of Gary Shields as chairman and CEO. In this capacity, Shields will leverage a proven track record in leading fast-growth organizations to fuel Armorpoint's continuing momentum in the identity theft management industry.

Shields brings a wealth of business and financial expertise to Armorpoint, including more than 25 years of experience as a successful entrepreneur, venture capitalist, board member and investment banker. Previously, he was managing partner of Avtech Ventures, a San Diego-based venture capital firm with investments in more than 30 information technology and health-care organizations such as Salesforce.com, Listen.com, Sircon, Northstar, Esperion and Tomotherapy. During his tenure with Avtech, Shields served on the boards of more than 10 emerging technology companies. Prior to that, Shields served as the senior vice president of business development for IMS, a leading provider of software as a service (SaaS) that was purchased by Eli Lilly.

We are extremely pleased to welcome Gary to our executive team and board of directors," said Sheldon Owen, founder and president of Armorpoint. "His outstanding achievements in building and expanding high-profile companies in very competitive markets will prove invaluable as we take Armorpoint to its next level of customer expansion and business success."

Founded in 2004, Armorpoint is the first company to deliver on-demand identity theft management tools and services for financial institutions and other impacted organizations to offer consumers. Implemented as a private-label web interface, the Armorpoint solution is a customized ID fraud prevention and resolution system that provides greater customer security, confidence and retention. Consumers can obtain ID theft and credit education as well as the proactive tools and services for ID theft management and resolution assistance. Armorpoint's suite of solutions also helps financial institutions meet FACT Act compliance requirements.

"I am excited to spearhead Armorpoint's pioneering efforts to proactively combat identity theft, which is the fastest growing crime in the nation," said Gary Shields, chairman and CEO of Armorpoint. "We are uniquely positioned to address the sweeping legal and regulatory changes in the financial industry with best-in-class software and services to reduce fraud loss from identity theft and data security breaches."

Recently, the San Diego chapter of the AeA, the nation's largest high-tech industry association, selected Armorpoint as a finalist in the 13th annual AeA High Tech Awards. Named in the Outstanding Emerging Growth category, Armorpoint was recognized for its technological innovation and industry contribution.

About Armorpoint, Inc.

Armorpoint is the leading provider of On-Demand Identity Theft Management Solutions, providing financial institutions and other impacted organizations with a unique private label web platform where consumers can obtain ID theft and credit education as well as the proactive tools and services for ID theft management and resolution assistance. Armorpoint's solution meets FACT Act compliance requirements while also empowering leading organizations with an on-demand identity theft management system to protect consumers for greater customer security, confidence and retention. For more information please see www.armorpoint.com.

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