News

SSH Communications Security Corp (hereinafter referred to as
"SSH") and Applied Computing Research (ACR) Oy (hereinafter
referred to as "ACR") have signed terms of merger on March 8,
2004. According to these terms of merger, ACR (the merging
company) shall merge to SSH (the receiving company). The assets
and liabilities of the merging company are transferred in the
merger without liquidation procedure to the receiving company.

With an implementation of the merger, SSH shall issue for the
current shareholders of ACR Mr. Tatu Ylönen and Mr. Tero Kivinen
16,942,487 new shares of SSH as a consideration of merger. The
amount of these shares equals to the amount of shares of SSH
currently owned by ACR. Within the implementation of the merger,
the shares of SSH owned by ACR shall be transferred into
possession of the SSH. Those shares are planned to be nullified.
The merger is planned to be implemented on October 31, 2004.

SSH shall issue with the implementation of the merger 16,942,487
new shares of the company. These shares shall be distributed to
Mr. Ylönen and Mr. Tero Kivinen so that Mr. Ylönen shall receive
14,344,639 and Mr. Kivinen 2,597,848 new shares of SSH as a
consideration of merger. A total of 16,942,487 shares of SSH
currently owned by ACR are planned to be nullified.

The terms of merger is an agreement introduced on the paragraph 2,
section 9 of the Securities Markets Act. The merger shall, if
executed, lead on to the following shares of ownerships as
mentioned in the Securities Markets Act. According to the
paragraph 2, section 9 of the Securities Markets Act, we shall now
report the following:

THE BUSINESS NAME OF THE TARGET COMPANY:

SSH Communications Security Corp, Business ID-number: 1035804-9

THE MOMENT, WHEN THE SHARE OF OWNERSHIP HAS BEEN CHANGED:

The terms of merger signed on March 8, 2004 shall change (if
executed) the shares of ownerships. The final changes to the
shares of ownerships shall occur according to the terms of merger
on October 31, 2004.


THE EXACT SHARE WITH THE DIFFERENT SHARE TYPES OF THE SHARE
CAPITAL AND THE NUMBER OF VOTES OF SSH COMMUNICATIONS SECURITY
CORP, THE COMPLETE NAMES OF THE SHAREOWNERS AND THEIR BUSINESS ID-
NUMBER/PERSONAL ID-NUMBER:

1.The holding of Applied Computing Research (ACR) Oy (Business ID-
number: 0978476-1):
                  Holding/amount of shares   Percentual holding

The situation on March 8, 2004  16,942,487   61.09
After the merger                         0       0 

2. The holding of Mr. Tatu Juhani Ylönen (Personal ID-number:
230468-055C):
                  Holding/amount of shares   Percentual holding

The situation on March 8, 2004* 17,969,518   64.79 
After the merger                15,371,670   55.42 

 * The personal holding and the holding through controlled
 communities.

3.       The holding of Mr. Tero Tapani Kivinen (Personal ID-
  number: 130668-1653):
                  Holding/amount of shares   Percentual holding

The situation on March 8, 2004       6,723    0.02 
After the merger                 2,604,571    9.39

The share capital of SSH Communications Security Corp is divided
to 27,735,810 shares. Each share represents one (1) vote. The
merger shall not increase the total amount of shares of the
company, because the shares transferred into possession of the
company are planned to be nullified. If the nullification is not
carried out, the amount of the shares of the Company shall
increase with 16,942,487 pieces.

Helsinki, March 9, 2004

SSH COMMUNICATIONS SECURITY CORP

Arto Vainio
CEO

© 2004 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.