SSH Communications Security - Corporate Action

SSH COMMUNICATIONS SECURITY CORP APPROVED THE SHARE SUBSCRIPTION OF THE DIRECTED SHARE ISSUE TO THE GROUP MANAGEMENT TEAM

SSH COMMUNICATIONS SECURITY CORP    STOCK EXCHANGE RELEASE                      
                                    27 November 2009 at 3:50 P.M. 
SSH COMMUNICATIONS SECURITY CORP APPROVED THE SHARE SUBSCRIPTION OF THE DIRECTED
SHARE ISSUE TO THE GROUP MANAGEMENT TEAM AND REDEEMED AND CANCELLED THE CEO'S   
2008 STOCK OPTIONS  
The Board of Directors of SSH Communications Security Corp has on 20 October    
2009 decided on a share issue against payment to be directed, as part of the    
management incentive plan, to SSH Management Investment Oy that is a company to 
be formed and owned by the SSH Group Management Team. The decision was done on  
the basis of an authorization granted by the Annual General Meeting of          
Shareholders on 4 March 2009, allowing deviation from the shareholders'         
pre-emptive subscription rights.
A total of 1,100,000 new shares of the Company were offered for subscription in 
the share issue. The share subscription period was 13 November—27 November 2009,
and the subscription price was EUR 0.72/share (the trade volume weighted average
quotation of the Company´s share on the NASDAQ OMX Helsinki Ltd. during 22      
October—12 November 2009).     
The Board of Directors of the Company has today decided to approve the          
subscription of 1,100,000 new shares. The amount that corresponds to the nominal
value, EUR 0.03/share, EUR 33,000.00 in total, of the subscription price of the 
new shares will be credited as an increase in the share capital of the Company  
and the remaining amount of the share subscription price, EUR 759,000.00, will  
be credited to the reserve for invested unrestricted equity of the Company. 
Right to dividend and other shareholder rights will commence when the new shares
have been entered into the Trade Register, around week 50. After that, the      
shares will be registered on the book-entry account of the subscriber and will  
be applied for public trading on NASDAQ OMX Helsinki Ltd.        
After the Trade Register entry of the new shares, the number of the Company's   
shares will be 29,898,449 shares and the share capital of the Company will be   
EUR 896,953.47.      
As part of the total compensation development for the CEO, the Company has      
redeemed from the CEO 500,000 stock options from 2008 held by the CEO, at market
price, EUR 53,400.00. The CEO will spend the received net price of the stock    
options for the acquisition of the Company's shares through SSH Management      
Investment Oy. The CEO of the Company belongs to the target group of the new    
incentive plan directed to the Group Management Team. In accordance with the    
compensation policy of the Company, the members of the Group Management Team    
belong to only one long-term incentive plan at a time. The Company has cancelled
the 2008 stock options redeemed from the CEO. The CEO's indirect ownership in   
the Company is approximately 1.8% through the new incentive plan.               

Helsinki 27 November 2009                                                       

SSH COMMUNICATIONS SECURITY CORP                                                

The Board of Directors                              

Juho Lipsanen                                                                   
Chairman of the Board of Directors                                              

Further information:                                                            
Juho Lipsanen, Chairman of the Board of Directors, Tel. +358 20 500 7000        
Jari Mielonen, CEO, Tel. +358 20 500 7400                                       

Distribution:                                                                   
NASDAQ OMX Helsinki Ltd                                                         
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