Carmichael Security Transforms Into Black Dragon Software

Sturgis, MI- September 5, 2003
David Smith Named Chief Executive Officer and
Douglas Dormer Named President of Security Risk Measurement Solution Provider

STURGIS, MI – September 3, 2003 – Carmichael Security, LLC, an emerging supplier of IT Security Risk Measurement (SRM) solutions, today announced that it has changed its name and is now Black Dragon Software, LLC. Also, David Smith, a founding investor in Black Dragon Software, has been named chief executive officer and Douglas E. Dormer, formerly senior vice president of sales and marketing, has been named president.

The name change and the new appointments come at a time when the company is concluding two years of research and development into Security Risk Measurement and is preparing for the general availability release of its Security Risk Measurement product suite scheduled for October.

"Doug's leadership since joining the company has been instrumental in our ability to achieve the general availability and release of our product suite this fall. It is apparent that his experience and integrity make him the ideal person to lead Black Dragon Software into the market," said Smith.

"I appreciate the confidence our investors have shown in appointing me president," said Dormer. "David's vision and passion from the beginning have been instrumental to our success. It is an honor to lead the Black Dragon team as we bring the Security Risk Measurement product suite to market. It is clearly the right product for the right time."

With several others, Mr. Smith helped cofound Black Dragon Software in 2001 to develop a solution which would allow both private and public entities to measure the strength of security protecting information technology assets using a defendable, repeatable metric. Mr. Smith is a 20 year veteran with global experience in highly leveraged financed investments and tax sheltered annuities.

Mr. Dormer joined Black Dragon Software in February after an eleven year career with Bottomline Technologies, a leading global technology provider of secure financial transaction software and services, where he served in a variety of sales and marketing management positions. During his time with Bottomline, the company grew to $70 million in revenue.

About Black Dragon Software, LLC
Black Dragon Software is a provider of software and services used to measure the strength of an organization's information technology ("IT") security environment. These solutions enable organizations to form judgements about their IT security risks using an objective, easy to understand measurement standard based on a defendable, repeatable mathematical database and process. These Security Risk Measurement solutions allow organizations to optimize security investments, assess security risks and enhance security-driven revenue opportunities. http://www.blackdragonsoftware.com

For the time being, Black Dragon Software may be found at www.carmichaelsecurity.com as well as its new home at www.blackdragonsoftware.com.

Cautionary Language
This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions.




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