outlook for 2009 year.

Snippet from the AGM.

Unquestionably the outlook for 2009 is less predictable in the face of the greatest global crisis
since the Depression of the 1930s.
However with adversity comes opportunity, especially for a company like Senetas which is
basically in the business of mitigating the risks associated with global financial transactions and
securing communications to protect Intellectual Property and maintaining Government secrecy.
While John DuBois will comment further on the outlook during his presentation, the Board
wants to reassure shareholders that despite the global uncertainties, Senetas has some
fundamental strengths: Your company continues to have NO debt; it has qualified, updated sales
pipelines within Australasia, Europe and Asia and enjoys a good relationship with SafeNet, the
market-leader in the US; Senetas has significantly strengthened its global distribution channels
without increasing direct sales staff; it continues to release major new products as a result of its
ongoing R&D commitment and finally it has growing sales revenues.
Clearly the plans we put in place last year to turn Senetas around, to focus on our core strengths,
build sales through global distribution channels while containing all non-essential costs, make
this company stronger during tough times. We have also spent time training distributors,
identifying foreign sales opportunities, with our CEO leading sales presentations resulting in
sales in Asia.