Press Release: Texas State Bank Relies on the PGP Encryption Platform to Help Comply with Industry Regulations and Audit Requirements

Leading Southwest Bank Selects Standards-Based PGP Solutions to Protect Customer Information

Palo Alto, CA/29 January, 2007 - PGP Corporation, a global leader in enterprise data security and encryption solutions, today announced that Texas State Bank has deployed the PGP® Encryption Platform. The bank is using PGP Universal™ Gateway Email to secure confidential information at the gateway and PGP® Desktop Email on the clients when communicating with customers and business partners via email. The bank is also using PGP® Command Line to encrypt data stored on servers or in transit over the Internet.

Faced with a number of government and industry regulations, including the U.S. Right to Financial Privacy, Gramm-Leach-Bliley, and Sarbanes-Oxley acts, Texas State Bank sought an encryption solution that would enable compliance and allow secure communications with customers and partners. After evaluating several solutions, the bank selected the PGP Encryption Platform. PGP® encryption solutions are widely used within the financial services industry, giving Texas State Bank confidence in the robust platform. In addition, standards-based PGP solutions also simplified secure communications with customers and partners using a variety of platforms and applications.

With the first PGP® application they deploy, organizations like Texas State Bank begin to realize the benefits of the PGP Encryption Platform. Additional PGP solutions leverage this common platform, providing lower operational costs and faster implementation compared to point solutions.

"PGP Universal Gateway Email was easy to install and integrate with our existing IT infrastructure," said Karen M. Gayhart, senior vice president for Network Operations at Texas State Bank. "With the PGP solution, we've been able to shift customer and partner communications from written correspondence and phone conversations to email, which is much more cost-effective."

In a parallel project, the bank's IT outsourcing department, The Data Center, needed to protect sensitive information such as payroll records and customer direct marketing data during FTP transfers between the bank, The Data Center, and other organizations. The Data Center chose PGP Command Line to encrypt the data flow between FTP servers and ensure the privacy of confidential data.

About PGP Universal Gateway Email
PGP Universal Gateway Email automatically secures confidential email with PGP encryption and digital signatures at the gateway, based on centrally defined policy. The encryption is completely transparent to the user, and email is automatically encrypted to match recipients' encryption capabilities.

About PGP Desktop Email
PGP Desktop Email provides enterprises with an automated, transparent set of encryption solutions to consistently secure confidential information in email sent from desktops and laptops.

About PGP Command Line
PGP Command Line enables organizations to automate encryption and signing of sensitive consumer and business information, securing it for local storage, transfer over the Internet, or backup.

About the PGP Encryption Platform
Based on a unified key management and policy infrastructure, the PGP Encryption Platform offers the broadest set of integrated applications for enterprise data security. The platform enables organizations to meet current needs and expand as security requirements evolve for email, laptops, desktops, instant messaging, PDAs, FTP, bulk data transfers, backups, and shared files on network storage. By implementing the PGP Encryption Platform, organizations can reduce security infrastructure complexity, lower maintenance costs, and realize a strong return on investment.

About Texas State Bank
Texas State Bank is a wholly owned subsidiary of BBVA, a multinational financial services group that operates in 32 countries. BBVA stock trades on the Madrid stock exchange and its American depositary receipts trade on the NYSE under the symbol BBV. On September 31, 2006, BBVA had 7,465 branches, 96,369 employees, and total assets of US$510.4 billion.

About PGP Corporation
PGP Corporation, a global security software company, is the leader in email and data encryption. Based on a unified key management and policy infrastructure, the PGP® Encryption Platform offers the broadest set of integrated applications for enterprise data security. PGP® platform-enabled applications allow organizations to meet current needs and expand as security requirements evolve for email, laptops, desktops, instant messaging, PDAs, network storage, FTP and bulk data transfers, and backups.

PGP® solutions are used by more than 80,000 enterprises, businesses, and governments worldwide, including 95 percent of the Fortune® 100, 75 percent of the Fortune® Global 100, and 87 percent of Germany's DAX index. As a result, PGP Corporation has earned a global reputation for innovative, standards-based, and trusted solutions. PGP solutions help protect confidential information, secure customer data, achieve regulatory and audit compliance, and safeguard companies' brands and reputations. Contact PGP Corporation at www.pgp.com or +1 650 319 9000.

Legal Notice Regarding Forward-Looking Statements
Some of the statements in this press release are forward-looking, including statements regarding the availability, plans, delivery, goals, development, expected features, expected benefits and competitive position of PGP products implementing or leveraging the PGP technologies. All references made to product feature enhancements, improvements in Platform support or additional functionality are subject to change at solely PGP Corporation's discretion. All future descriptions of PGP technology and products are subject to availability only if PGP Corporation decides to build them and when PGP Corporation decides to make them commercially available. Actual results could differ materially from those expressed in any forward-looking statements. Risks and uncertainties that PGP Corporation faces that could cause results to differ materially include risks associated with any unforeseen technical difficulties or software errors related to the final development and launch of any of PGP Corporation's products; any technological, regulatory or standards changes in the security, encryption and authentications market which could make PGP Corporation's products less competitive or require feature changes in these products; any slowdown in the adoption by businesses of encryption suites, secure email, Internet technologies or related standard. The forward-looking statements contained in this release are made as of the date hereof, and PGP Corporation does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements.

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