Subhash Tantry Named President and CEO of Fox Technologies

PALO ALTO, CA -- (MARKET WIRE) -- December 05, 2006 -- Fox Technologies, Inc. (FoxT) announced today that its Board of Directors has appointed Subhash Tantry as the Company's President and Chief Executive Officer. The appointment is the result of FoxT's on-going succession planning process and is effective immediately. Tantry succeeds Max Seybold, who will continue serving on FoxT's Board of Directors and will concentrate on expanding market opportunities for FoxT around the globe. "Since joining FoxT in 2005 as CTO, Subhash has been instrumental in guiding a competitive product suite for secure GRC controls automation," said Pär-Jörgen Pärson, FoxT's Chairman of the Board. "Subhash has earned the admiration and respect of our employees and our customers. He is the ideal leader to take the helm as FoxT's Chief Executive Officer." "It is an honor to lead this company," said Tantry. "I'm thrilled with the opportunity before us -- a global marketplace of businesses needing secure governance, risk, and compliance management software, a world-class leadership team and development process, and some of the industry's most valuable customers and partners. The potential for FoxT is limitless." Subhash brings more than 25 years of experience in the software industry. As an entrepreneur he co-founded Vigilance, a company that developed a market-making application called Business Activity Monitoring. He was also a senior executive for Accenture at their Center for Strategic Technologies; led innovative enterprise class software engineering teams at Consilium; and most recently was Executive Vice President of Engineering and Operations at Centerbeam, an IT infrastructure-managed service provider. Subhash holds a Bachelors Degree in Mechanical Engineering and a Masters in Industrial Engineering and Management Science. In addition to completing the Executive Program for Growing Companies at Stanford University, Subhash has been a founding member of the Board of Directors of the IIT Bombay Heritage Fund that supports his alma mater. He also holds U.S. Patents in enterprise software architecture, applications, and techniques, with his most recent patents being awarded in 2004. He is a Charter Member of The Indus Entrepreneur (TiE), is a mentor at TiE, and was most recently a convener for TiEcon 2006. About FoxT FoxT offers a comprehensive controls solution that enables organizations to effectively manage corporate governance, risk, compliance, and security (Secure GRC). FoxT's Secure GRC platform combines corporate controls, application controls, and secure IT controls software into a single, integrated platform that provides continuous visibility into business processes and performance. Through smart integration and automation, FoxT solutions reduce total cost of ownership, deployment risk, and time to market, making compliance sustainable and transforming it into a source of competitive advantage. Headquartered in Palo Alto, California, FoxT serves Global 1000 customers in 32 countries. For more information -- or contact Elliott Zember at 650.687.6248. Contact: Elliott Zember 650.687.6248