COUNTERPANE INTERNET SECURITY ADDS KEY CUSTOMERS FOR ITS MANAGED SECURITY MONITORING SERVICE

New customer agreements underscore mission-critical role of security among Internet infrastructure providers

San Jose, CA, March 5, 2001 - Counterpane Internet Security, Inc., the leader in providing Managed Security Monitoring (MSM) services, today announced that it has signed contracts with several new customers. Service agreements with Conxion Corporation and Keynote Systems, Inc. (Nasdaq: KEYN), continue to expand Counterpane's growing base of key players in the Internet economy. Counterpane's MSM service was launched in April 2000 and provides 24/7 monitoring of networks for unauthorized access, customer response and resolution, and intelligence data gathering and analysis.

"We are pleased that these companies have selected Counterpane's team of expert security analysts to watch vigilantly over their enterprise networks worldwide," said Tom Rowley, Counterpane President and CEO. "Our risk management and security expertise will differentiate and add value to the services and technologies they offer their respective customers."

Enterprise Business Model

"These new customers represent an important milestone for our Company, and also validate our vision of how the market for Counterpane's MSM service will evolve," said Rowley. "Conxion and Keynote represent what we've identified in our 'Enterprise Business Model' as leading Internet infrastructure providers," explained Rowley. "They deliver critical networking, performance measurement, hosting, and managed services to customers who prefer to outsource some-or all-of their enterprises' e-business infrastructure."

"Our focus is in serving enterprise customers who have a critical need to protect corporate assets," said Cynthia Hillery, Vice President of Marketing for Counterpane. "These enterprises are driving the adoption of Counterpane's MSM service, both directly and by their selection of providers who have a trusted environment. We believe that Counterpane is a key element in building customer confidence and brand value for these leading infrastructure providers."

In addition to Internet Infrastructure Providers, other key enterprise provider segments adopting Counterpane's MSM service are:

• Technology Platform Suppliers: those companies that offer web development tools to help organizations build their own Internet infrastructures
• Application Service Providers: companies that host mission-critical applications for customers that choose to focus on their core business strengths and expertise rather than dedicate resources to deploying and maintaining complex software
• Applications Developers: companies that produce a broad range of e-commerce and business-specific programs
• Enterprises: include end-user customers who want to enhance their security infrastructure with Counterpane's MSM service without devoting significant internal resources to achieve a comparable level of security

"It is not surprising that Internet infrastructure companies are among the early adopters of Counterpane's MSM service. After all, their customers are relying upon them to deliver a comprehensive e-business solution, which by today's standards must include a robust security platform with vigilant 24x7 monitoring, detection, and response. This is no longer a 'nice-to-have' feature but, rather, a 'must-have' competency," stated Allan Carey, Senior Analyst for Information Security Services at IDC.

About Counterpane

Counterpane Internet Security, Inc. was established in 1999 by entrepreneurial expert Tom Rowley and security technologist and author Bruce Schneier to address the critical need for increased levels of security services. Centered around a network of sophisticated Secure Operations Centers, staffed by expert security analysts, the Company provides 24x7 monitoring, as well as penetration detection, and response. Counterpane's Managed Security Monitoring services enable e-business to be conducted safely. The company is funded by Accel Partners, Amerindo Investment Advisors, Inc., Bessemer Venture Partners, Dell, Deutsche Bank, Goldman Sachs, and Morgan Stanley Dean Witter Equity Fund. Headquarters are located at 1090 La Avenida in Mountain View, CA, USA. Phone: 650-404-2400, Fax: 650-903-0461, Website: www.counterpane.com.

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Note to Editors: Please see the Addendum to this release for quotes and brief descriptions of Conxion and Keynote.

Counterpane is a trademark of Counterpane Internet Security, Inc. All other companies, brand names or products are trademarks or registered trademarks of their respective companies.

Counterpane Customer Quotes and Information Addendum

CONXION CORPORATION
"As a leading Internet infrastructure services provider, we own, manage, and take full responsibility for the entire hosting infrastructure that our e-business customers require," said Mark Kadrich, director of security. "As Counterpane's very first customer, we've benefited from having a longer time to develop processes around the service. Counterpane has been able to leverage its MSM service with our network, data centers, and expertise, to ensure that our customers maintain a reliable and secure online presence without heavy capital, human resources, and management investments that traditional in-house models would require."

About Conxion Corporation

Conxion Corporation, www.conxion.com, is a fully integrated Internet infrastructure services provider leveraging its Tier-1 global network to offer fully managed hosting, transit and access services and FailSafe^TM solutions for eBusiness. Headquartered in Silicon Valley (Santa Clara, Calif.), Conxion is helping a wide variety of global e-businesses bring their applications to the Web. Conxion's resources include a fully redundant, global Tier-1, all-IP network, and 20 strategically located data centers and POPs in the U.S. and Europe. Conxion's services include Internet access, managed hosting, network services and expertise in security, stress-testing and performance monitoring, storage area networks, database administration and other managed services. Conxion is a privately held corporation.

KEYNOTE SYSTEMS, INC.

"Our customers, many of the world's busiest and most successful e-commerce hosting companies, rely on our Internet performance measurement services," stated Lloyd Taylor, Vice President of Operations. "We rely on Counterpane's MSM service to vigilantly monitor our operations centers that collect, analyze, and disseminate our Internet performance data which we cannot afford to have compromised."

About Keynote Systems

Keynote Systems (Nasdaq "KEYN"), The Internet Performance Authority®, is the worldwide leader in Internet performance services that improve the quality of e-business. Approximately 3,000 corporate IT departments, Web hosting companies and Internet service and content delivery providers around the world have implemented the company's easy-to-use and cost-effective services to benchmark and manage the performance of their Web sites. Keynote was founded in 1995 and is headquartered in San Mateo, California. The company can be reached at www.keynote.com or by phone in the U.S. at 1-650-522-1000.