ALDN Aladdin Knowledge Systems Ltd (MM)

Aladdin Knowledge Systems (NASDAQ: ALDN) today announced that Alfa-Bank, one of Russia's largest privately owned financial institutions, has deployed 20,000 Aladdin eToken USB smartcard devices, providing its online customers with secure access to its Web-based financial services. Using Aladdin eToken, customers can process electronic documents, monitor transactions, contact the bank, as well as import and export data to Alfa-Bank's accounting systems.

Due to globally increasing rates of phishing, malware and other Web-based threats, Alfa-Bank required an advanced authentication solution to provide additional protection for its three million customers worldwide to ensure secure banking through its online system. The bank chose Aladdin eToken based on its ability to meet strict criteria for advanced security, manageability and reliability.

"When we started the project, Alfa-Bank was the leader in providing client protection against Web-based threats," said Valery Butenko, Deputy CIO of Alfa-Bank. "We had to very carefully select the vendor providing the smartcard security solution that would ensure maximum customer security and allegiance. Aladdin was able to provide a custom solution to exactly fit our needs."

"Alfa-Bank is the latest example of global financial institutions turning to strong authentication to protect themselves and their customers from malicious Web exploits during online banking sessions," said Shlomi Yanai, vice president of the Authentication Business Unit at Aladdin Knowledge Systems. "There is a growing trend within finance, healthcare, law enforcement and other sensitive industries to use advanced smartcard identification to restrict access, prevent fraud and ensure security when conducting business online."

About Alfa-Bank

Founded in 1990, Alfa-Banking Group offers a wide range of products and operates in all sectors of the financial market, including corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, custody services, investment banking and other ancillary services to corporate and retail customers.

Alfa-Banking Group has 304 offices across Russia and abroad. The Group also operates through subsidiary banks, affiliate and branch offices in Kazakhstan, the Netherlands, Cyprus, the US and the United Kingdom and serves more than 2.65 million individual and more than 51,500 corporate clients. These include many of Russian top 200 companies. In addition to banking, Alfa-Banking Group has FSA, CySEC and NASD-regulated brokerage subsidiaries, and other companies located in Cyprus, London and New York.

For more information, visit www.AlfaBank.com.

About Aladdin

Aladdin Knowledge Systems (NASDAQ: ALDN) is an information security leader with offices in 15 countries, a worldwide network of channel partners, and numerous awards for innovation. Aladdin eToken is the world's #1 USB-based authentication solution, offering identity and access management tools that protect sensitive data. Aladdin SafeWord two-factor authentication technology protects companies' important information assets and applications. Aladdin HASP SRM boosts growth for software developers and publishers through strong anti-piracy protection, IP protection, and secure licensing and product activation. Aladdin eSafe delivers real-time intelligent Web gateway security that helps protect data and networks, improves productivity, and enables compliance. Visit www.Aladdin.com.

�2008 Aladdin Knowledge Systems, Ltd. All rights reserved. eToken, Aladdin Knowledge Systems and the Aladdin logo are trademarks or registered trademarks of Aladdin Knowledge Systems, Ltd. All other product and brand names mentioned in this document are trademarks or registered trademarks of their respective owners.

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Press Contact: Matthew Zintel Zintel Public Relations matthew.zintel@zintelpr.com 310.574.8888 Investor Relations Contact: Debbie Kaye Corporate Communications Manager debbie.kaye@aladdin.com 646.468.0481