HSBC Holdings PLC, Selects Passlogix v-GO Sign-on Platform to Simplify Application Logon Globally

Passlogix(R), Inc., announced today that the HSBC, one of the
largest global banking and financial services organisations, has
selected the Passlogix v-GO(R) Sign-On Platform(TM) as their
enterprise single sign-on solution. The v-GO solution is one of the
key steps in a global identity management and authentication
initiative designed to improve access control to applications and
resources. HSBC's v-GO rollout is scheduled to begin immediately in
North America.

HSBC will be using v-GO SSO(R) (Single Sign-On) to replace many of
their existing application's user passwords with automatically
generated strong user credentials, requiring the user to remember only
a single password for network logon. This strategy will assist in
dramatically reducing the helpdesk calls and user frustration related
to managing multiple passwords, while improving overall application
security.

Other deciding factors included the platform's rapid deployment
capabilities, proven scalability, and ability to use virtually any
back-end directory or database as its user profile and credential
repository without the need to replace legacy systems. This
flexibility is critical to HSBC because of the heterogeneous back-end
systems of its offices around the world, many of which have been added
through acquisition over the last decade.

"HSBC selected Passlogix after a rigorous process of testing and
reviewing many of the market-leading solutions," said Richard
Hackworth Group Head of IT Security, HSBC. "We are confident that by
adopting v-GO, we will be able to quickly achieve the security,
administrative and user convenience benefits of a single sign-on
solution."

"The size and complexity of this deployment requires a mature
solution with an open architecture, minimal implementation effort, and
broadest possible range of functionality," said Marc Boroditsky,
President and CEO of Passlogix. "The fact that we were awarded this
contract clearly demonstrates our ability to meet the requirements of
any size organisation and strengthens our position as a leading
enterprise single sign-on vendor."

The v-GO platform can support sign-on to any type of Windows,
mainframe or Web application without modification or significant
implementation cost. It can be quickly and easily implemented in
enterprises of all sizes, using patented client-side intelligence that
eliminates the need to write scripts or connectors even to homegrown
or legacy applications, and can be deployed on existing servers
without adding dedicated or proprietary hardware. These and other
features lower the overall total cost of ownership.

About HSBC Holdings plc

HSBC Holdings plc serves over 125 million customers worldwide
through some 9,500 offices in 76 countries and territories in Europe,
the Asia-Pacific region, the Americas, the Middle East and Africa.
With assets of US$1,502 billion at 31 December 2005, HSBC is one of
the world's largest banking and financial services organisations. HSBC
is marketed worldwide as 'the world's local bank'.

Through an international network linked by advanced technology,
including a rapidly growing e-commerce capability, HSBC provides a
comprehensive range of financial services: personal financial
services; commercial banking; corporate, investment banking and
markets; private banking; and other activities.

About Passlogix

Passlogix(R) is the developer of the market's most robust,
scalable and easy-to-deploy enterprise single sign-on platform, with
successful installations in hundreds of organizations of all sizes and
in all industries around the world. The company's patented
intelligence-based technology eliminates lengthy and expensive
implementation cycles, and provides rapid return on investment, by
adapting to any existing infrastructure without the need for custom
coding or replacement of legacy hardware or software. Founded in 1996,
Passlogix is headquartered in New York City with sales offices
throughout the United States, United Kingdom and Hong Kong. For more
information, visit http://www.passlogix.com/