News

All option rights, which are based on the Option Program I/2003 as
adopted by the General Meeting of the Shareholders on April 29,
2003 has been subscribed to. This Option Program has been entered
to the Trade Register today. A total of 625,000 option rights were
subscribed to. According to the terms of the Option Program, the
parties belonging to the inner circle of the Company subscribed to
a total of 144,000 option rights. SSH Operations Oy, a wholly
owned subsidiary of the Company, subscribed to 481,000 option
rights to be granted under the Option Program further to persons
belonging to the management team and personnel of the Company. The
option rights entitle to subscribe to new shares with the
subscription price of EUR 0.87. The share capital can rise by
maximum of EUR 18,750.00 as a result of such subscriptions.

During the subscription period, a total of 59,000 option rights
were subscribed to under the Option Program II/2003 as adopted by
the General Meeting of the Shareholders on April 29, 2003. This
Option Program has been entered to the Trade Register today. The
option rights entitle to subscribe to new shares with the
subscription price of EUR 0.87. The share capital can rise by
maximum of EUR 1,770.00 as a result of such subscriptions.

There are unused option rights, which are emitted on the basis of
the earlier option programs, as follows:

A total of 514,250 option rights, which entitle to subscribe to
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
rise by maximum of EUR 15,427.50 as a result of such
subscriptions.

The Option Program (I/2000/lot 1) as adopted by the Company's
Board of Directors on July 10, 2000 on the basis of an
authorization of the General Meeting of the Shareholders, the
Option Program (I/2000/lot 2) as adopted by the Board of Directors
on September 13, 2000 on the basis of an authorization of the
General Meeting of the Shareholders and the Option Program
(I/2000/lot 3) as adopted by the Board of Directors on March 22,
2001 on the basis of the General Meeting of the Shareholders have,
in connection with an entry in the Book-Entry System, been
amalgamated to one Option Program (I/2000). A total of 209,837
option rights which, entitle to subscribe to new shares with the
subscription price of EUR 6.50 under the Option Program I/2000,
are unused. The share capital can rise by maximum of EUR 6,295.11
as a result of such subscriptions.

A total of 32,000 option rights, which entitle to subscribe to new
shares with the subscription price of EUR 6.50 under the separate
Option Program as adopted by the Board of Directors on July 10,
2002 on the basis of an authorization of the General Meeting of
the Shareholders, are unused. The share capital can rise by
maximum of EUR 960.00 as a result of such subscriptions.
A total of 9,250 option rights, which entitle to subscribe to new
shares with the subscription price of EUR 15.00 under the Option
Program (II/2000) as adopted by the Board of Directors on March
22, 2001 on the basis of an authorization of the General Meeting
of the Shareholders, are unused. The share capital can rise by
maximum of EUR 277.50 as a result of such subscriptions.

A total of 181,625 option rights, which entitle to subscribe to
new shares with the subscription price of EUR 7.63 under the
Option Program (I/2001) as adopted by the General Meeting of the
Shareholders on April 19, 2001, are unused. The share capital can
rise by maximum of EUR 5,448.75 as a result of such subscriptions.

A total of 820,616 option rights, which entitle to subscribe to
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
rise by maximum of EUR 24,618.48 as a result of such
subscriptions.

A total of 47,125 option rights, which entitle to subscribe to 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
rise by maximum of EUR 1,413.75 as a result of such subscriptions.

A total of 109.498 option rights, which entitle to subscribe to
new shares with the subscription price of EUR 1.90 under the
Option Program (III/2002) as resolved by the Board of Directors on
June 26, 2002, are unused. The share capital can rise by maximum
of EUR 3,284.94 as a result of such subscriptions.

SSH COMMUNICATIONS SECURITY CORP

Johanna Lamminen
CFO

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