SafeNet Receives Anticipated Notice Related to Previously Announced Late Filing of Form 10-K for the Fiscal Year 2006

  
    
  
  
    
      SafeNet, Inc. (NASDAQ:SFNT) announced today, as expected, that the 
      Company has received an additional Staff Determination notice from 
      NASDAQ stating that the Company has failed to timely file its Form 10-K 
      for the fiscal year ended December 31, 2006 and, therefore, is not in 
      compliance with NASDAQ Marketplace Rule 4310(c)(14). On March 13, 2007 
      the Company disclosed that, in connection with the previously disclosed 
      investigation by the special committee of the board to investigate the 
      Company’s stock option granting practices and 
      the audit of the necessary restatements, it would not be able to file 
      its Form 10-K for the fiscal year ended December 31, 2006. On February 
      8, 2007, the Company disclosed that the NASDAQ Listing and Hearing 
      Review Council (the “Listing Council”) 
      stayed the decision of the NASDAQ Listing Qualifications Panel to 
      suspend trading in the Company’s securities, 
      pending a review of the decision by the Listing Council. As previously 
      announced, the Company has until March 30, 2007 to submit any additional 
      information the Company believes is necessary for the Listing Council to 
      review. Unless the tender offer announced on March 12, 2007 results in 
      an earlier event in which the Company’s 
      securities are no longer tradable, the Company's common stock will 
      remain listed on The NASDAQ Global Select Market pending the issuance of 
      a formal decision by the Listing Council, which the Company believes 
      would occur some time after March 30th.
    
    
      There can be no assurance that the Listing Council will determine that 
      the Company should remain listed on NASDAQ after the completion of its 
      review.
    
    
      About SafeNet, Inc.
    
    
      SafeNet is a global leader in information security. Founded more than 20 
      years ago, the company provides complete security utilizing its 
      encryption technologies to protect communications, intellectual property 
      and digital identities, and offers a full spectrum of products including 
      hardware, software, and chips. UBS, Nokia, Fujitsu, Hitachi, ARM, Bank 
      of America, NetGear, the Departments of Defense and Homeland Security, 
      Adobe, Samsung, Texas Instruments, the U.S. Internal Revenue Service and 
      scores of other customers entrust their security needs to SafeNet. For 
      more information, visit www.safenet-inc.com
    
    
      "Safe Harbor" Statement under the Private Securities Litigation 
      Reform Act of 1995
    
    
      The statements contained in this release, which are not historical 
      facts, are forward-looking statements within the meaning of Section 27A 
      of the Securities Act of 1933 and Section 21E of the Securities Exchange 
      Act of 1934.
    
    
      These statements are subject to uncertainties that could cause actual 
      results to differ materially from those set forth in or implied by 
      forward-looking statements. Important factors that could cause actual 
      results to differ materially are included but are not limited to those 
      listed in SafeNet's periodic reports and registration statements filed 
      with the Securities and Exchange Commission. The Company assumes no 
      obligation to update information concerning its expectations.