News

The Board of SSH Communications Security Corp (hereinafter
referred as "the Company") has resolved about nullification of the
option rights returned to the Company. The nullification of these
option rights has today been entered into the Trade Register.

Option rights issued on the basis of the Option Programs of the
Company are unused as follows:

A total of 503,291 option rights, which entitle to subscribe for
new shares with the subscription price of EUR 0.20 under the
Option Program (I/1999) as adopted by the General Meeting of the
Shareholders on August 5, 1999, are unused. The share capital can
be raised by maximum EUR 15,098.73 as a result of such
subscriptions.

The Option Program (I/2000/lot 1) as adopted by the Board of the
Company on July 10, 2000 on the basis of an authorisation of the
General Meeting of the Shareholders, the Option Program
(I/2000/lot 2) as adopted by the Board of the Company on September
13, 2000 on the basis of an authorisation of the General Meeting
of the Shareholders and the Option Program (I/2000/lot 3) as
adopted by the Board of the Company on March 22, 2001 on the basis
of an authorisation of the General Meeting of the Shareholders
have, in connection with an entry into the Book-Entry System, been
amalgamated to one Option Program (I/2000). A total of 183,837
option rights, which entitle to subscribe for new shares with the
subscription price of EUR 6.50 under the Option Program I/2000,
are unused. The share capital can be raised by maximum EUR
5,515.11 as a result of such subscriptions.

A total of 32,000 option rights which entitle to subscribe for new
shares with the subscription price of EUR 6.50 under the separate
Option Program as adopted by the Board of the Company on July 10,
2000 on the basis of an authorisation of the General Meeting of
the Shareholders, are unused. The share capital of the Company can
be raised by maximum EUR 960.00 as a result of such subscriptions.

A total of 9,250 option rights, which entitle to subscribe for new
shares with the subscription price of EUR 15.00 under the Option
Program (II/2000) as adopted by the Board of the Company on March
22, 2001 on the basis of an authorisation of the General Meeting
of the Shareholders, are unused. The share capital can be raised
by maximum EUR 277.50 as a result of such subscriptions.

A total of 151,625 option rights, which entitle to subscribe for
new shares with the subscription price of EUR 7.63 under the
Option Program (I/2001) as adopted by the Annual Shareholders’
Meeting on April 19, 2001, are unused. The share capital can be
raised by maximum EUR 4,548.75 as a result of such subscriptions.


A total of 747,803 option rights, which entitle to subscribe for
new shares with the subscription price of EUR 3.50 under the
Option Program (I/2002) as adopted by the General Meeting of the
Shareholders on April 11, 2002, are unused. The share capital can
be raised by maximum EUR 22,434.09 as a result of such
subscriptions.

A total of 47,125 option rights, which entitle to subscribe for
new shares with the subscription price of EUR 2.00 under the
Option Program (II/2002) as resolved by the General Meeting of the
Shareholders on April 11, 2002, are unused. The share capital can
be raised by maximum EUR 1,413.75 as a result of such
subscriptions.

A total of 105,998 option rights, which entitle to subscribe for
new shares with the subscription price of EUR 1.90 under the
Option Program (III/2002) as resolved by the Board of the Company
on June 26, 2002, are unused. The share capital can be raised by
maximum EUR 3,179.94 as a result of such subscriptions.

A total of 625,000 option rights were subscribed for under the
Option Program (I/2003) as resolved by the General Meeting of the
Shareholders on April 29, 2003. The option rights entitle to
subscribe for new shares with the subscription price of EUR 0.87.
The share capital can be raised by maximum EUR 18,750.00 as a
result of such subscriptions.

A total of 59,000 option rights were subscribed for under the
Option Program (II/2003) as resolved by the General Meeting of the
Shareholders on April 29, 2003. The option rights entitle to
subscribe for new shares with the subscription price of EUR 0.87.
The share capital can be raised by maximum EUR 1,770.00 as a
result of such subscriptions.

Helsinki, October 6, 2003

SSH COMMUNICATIONS SECURITY CORP

Johanna Lamminen
CFO

© 2003 SSH Communications Security Corp. All rights reserved. ssh® is a registered trademark of SSH Communications Security Corp in the United States and in certain other jurisdictions. All other names and marks are property of their respective owners.