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David Brennan
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WORKSHARE CLOSES US$23 MILLION IN SERIES B EXPANSION FUNDING

Steelpoint and Intel Capital join Quester to provide access to global security expertise, technology and markets

SAN FRANCISCO and LONDON—January 18, 2007 Workshare, an information security company and a global leader in secure content compliance, today announced the closing of US$23 million in Series B funding from California and New York-based Steelpoint Capital Partners, Intel Capital and London-based Quester. This capital infusion positions Workshare to extend its reach worldwide by investing in acquisitions, new markets distribution and new service delivery models.

Steelpoint Capital Partners, a late-stage investor, led the round. Steelpoint invests in and works with leading businesses and exceptional management teams to help them grow into industry-leading companies. Steelpoint managing director Roy Thiele-Sardiña will take a board seat at Workshare. “With seasoned management, differentiated intellectual property, a robust partner ecosystem, and most importantly, a world-class roster of satisfied customers, Workshare has key ingredients for taking advantage of this significant market,” said Thiele-Sardiña.

Sean Cunningham, director, Strategic Investments at Intel Capital stated: “The investment in Workshare is based on its global reach, broad industry alliances and secure content compliance technology across both endpoints and networks. We believe that the synergies with our technologies will help Workshare to advance the management of business content risk, one of the fastest growing global IT issues.”

Quester (www.quester.co.uk) is one of the UK’s leading venture capital companies and has been providing equity for growing technology companies for more than 20 years. Quester’s first US$4.5 million investment in 2002 helped build Workshare to achieve more than US$120 million in cumulative revenues, a current bookings run-rate greater than US$30 million per year, and a massive installed base of over 5,500 organizations, including 60 percent of the Fortune 1000. “We are very pleased in Workshare’s market acceleration in the four years since our initial investment,” said Simon Acland, Managing Director at Quester and Workshare board member. “Workshare has successfully transitioned to an information security company and has the top management to lead the fast growing market for secure content compliance.”

“We sought the dream-team in information security with the operational savvy and global reach required to win in a rapidly expanding market,” said Joe Fantuzzi, CEO and Chairman at Workshare. “Steelpoint, Intel Capital and Quester provide a global network of capital, alliances and experience that will accelerate Workshare to enhance, market, sell and deliver our powerful solutions to new geographies and industries worldwide.”

The US$23 million Series B round continues a string of successes for Workshare, including record growth and customer acquisition in 2006. In November, Microsoft named Workshare a top Office and Vista Launch Partner. In October, Secure Computing (NASDAQ:SCUR) announced an OEM relationship for Workshare Protect. Leading organizations and test labs including CRN, InfoWorld, EContent Magazine, SC Magazine, Info Security, Microsoft, the SIAA CODiE Awards, and Government Computer News highly praised Workshare products. In the past year, Workshare was highlighted in a wide array of business publications, including the Associated Press, The New York Times, Investor’s Business Daily, San Francisco Business Times, Time Magazine and ZDNet.

About Workshare
Workshare, an information security company, delivers Secure Content Compliance solutions to over 5,500 organizations in 65 countries worldwide. Workshare solutions uniquely combine policy enforcement, content awareness tools and user education to ensure safe information exchange across endpoints and networks without business disruption. Its products include Workshare Protect, Workshare Professional, DeltaView and TRACE! Workshare’s customer base spans small to large organizations in every industry segment with more than 60 percent of the Fortune 1000 and 85 percent of the ProServices 250. The company has offices in San Francisco, New York, Chicago, Atlanta, Dallas, Washington DC, London, Frankfurt, Hong Kong, Paris and Sydney. For more information on Workshare, visit www.workshare.com.

About Steelpoint Capital Partners
Steelpoint Capital Partners is a California and New York-based private equity investor. Steelpoint invests in late stage investments and buyout opportunities. Steelpoint’s investment team has over a century of combined experience in entrepreneurial operations and principal investing. Representative investments include Atempo, Boingo Wireless, SNAP Appliance (acquired by Adaptec), Scene7 and PRN Corporation (acquired by Thompson). For more information on Steelpoint, www.steelpointcp.com

About Intel Capital
Intel Capital, Intel’s venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer, Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, www.intelcapital.com.

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