Sophos Ranks 19th in 2004 Deloitte Canadian Fast 50

October 15, 2004 Sophos Press Release

Deloitte Technology Fast 50

Lynnfield, MA - Sophos, a world leader in protecting businesses against spam and viruses, announced that it has ranked 19th in Deloitte's prestigious Canadian Technology Fast 50 program. The list ranks the 50 fastest growing technology companies in Canada based on percentage of revenue growth over the past 5 years.

The global expansion of Canada's fastest growing technology companies is evident by the revealed source of their impressive revenue growth. For Fiscal year 2003-2004, Sophos's bookings grew 42 percent worldwide and 82 percent in North America over the previous year, demonstrating the company's continued ability to capture market share and secure its overall market position.

The acquisition of ActiveState in September 2003 gave Sophos a stronger competitive edge in the North American market as the first company to provide a single source anti-virus, anti-spam and email policy product for the email gateway. This has resulted in rapid customer adoption and 46 percent contribution to overall company growth, up from 24 percent last year. Since the acquisition, Sophos has increased its employee base by 80 percent to nearly 900 today. Thirty percent of that growth has been in North America. Sophos continues on its 15-year track record of reporting consecutive years of steady growth and profit.

"We are delighted to be recognized for our consistent growth and achievements," said Steve Munford, president of Sophos, Inc., based in Vancouver Canada. "The dramatic increase in spam and virus activity and the convergence of these threats has led to market demand for single source solutions that integrate email gateway and desktop protection and we intend to maintain our leadership position."

"The survey findings further reinforce the fact that Canada's fastest growing technology companies are on the right track, capitalizing on growth opportunities available both domestically and abroad," says Garry Foster, national director, Technology, Media & Telecommunications, Deloitte. "The outstanding revenue growth these companies were able to generate and maintain, along with a record number (29) of recipients who have appeared on the list for two or more consecutive years, indicate that these fast growing companies have truly found the recipe for sustained success."

The Deloitte Canadian Technology Fast 50 recognizes the importance of Canadian technology companies and profiles Canada's industry leaders helping them to get the attention and support they deserve at home and abroad. The annual program ranks the 50 fastest-growing technology companies based on the highest rates of revenue growth during the last five years (1999-2003). The Deloitte Canadian Technology Fast 50 finalists are also automatically entered into the Deloitte Technology Fast 500, the annual ranking of North America's fastest growing technology companies to be announced later this year.

In September 2004, Sophos was also ranked 226 on the Software 500, Software Magazine's list of the world's foremost software and services providers.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 6,100 people in 47 offices. Deloitte is the Canadian member firm of Deloitte Touche Tohmatsu. More information can be found on Deloitte's website.