For Immediate Release

SKYBOX SECURITY COMPLETES SERIES D FINANCING

Rembrandt Ventures Joins Lightspeed Ventures, Benchmark Capital, Carmel Ventures, and Mofet Technology Fund

SAN JOSE, CA - March 28, 2006 - Skybox® Security, Inc., the leader in Security Risk Management (SRM), today announced the closing of its $8.8 million round of Series D financing.

On February 24, 2006, Skybox Security completed its fourth round equity financing led by new investor Rembrandt Ventures. Rembrandt was joined by existing investors Lightspeed Venture Partners, Benchmark Capital, Carmel Ventures, Mofet Technology Fund and Robert Thomas CEO of Infoblox. The funds will be used to expand Skybox's market momentum and leadership and build out a strong sales and marketing infrastructure to support the company's award-winning products.

"We're particularly pleased to have Rembrandt recognize the value of Skybox Security and join our existing group of investors - all of whom have decided to increase their level of commitment to Skybox," said President and CEO David Batista.

In 2002, Skybox Security was founded by security experts Gidi Cohen, former CEO & co-founder of Vigil Technologies; Moshe Meiseles, former senior vice president of development of Memco (acquired by Computer Associates); and Eran Reshef, founder of Sanctum. The company's award-winning product, Skybox ViewT, creates a virtual Integrated Security Model (ISM) of an organizations security risk and control profile. This virtual model can be safely attacked, changed, and analyzed for the purpose of improving the security risk profile of the network as well as auditing security control effectiveness in compliance with defined policies. The entire process is measurable, repeatable and continuous refreshed resulting in a more secure network and reduced IT workload.

About Rembrandt Ventures

Rembrandt Ventures, established in 1997, is a private equity venture fund which targets investments in early and expansion stage high technology companies that demonstrate potential for significant growth. Collectively, Rembrandt and its Principals have assisted in the formation and financing of more than sixty companies. For additional information, visit www.rembrandtvc.com.

About Lightspeed Venture Partners

Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $1.3 billion of committed capital and focuses on seed and early-stage information technology investments in the U.S., Israel and Asia. The firm's partners have invested in more than 100 technology companies over the past two decades and have contributed to the success of market leaders including Blue Nile, Brocade, Ciena, Galileo Technology, Informatica, Kiva Software, Metasolv, Phone.com, Quantum Effect Devices, Sirocco and Waveset. For more information, visit www.lightspeedvp.com.

About Benchmark Capital

Benchmark Capital was founded in 1995 to help talented entrepreneurs build great technology companies. Benchmark's partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes franchise companies such as eBay and Shopping.com (Nasdaq: EBAY), Equinix (Nasdaq: EQIX), Handspring (Nasdaq: PALM), JAMDAT (Nasdaq: JMDT), Juniper Networks (Nasdaq: JNPR), Red Hat (Nasdaq: RHAT), and ZipRealty (Nasdaq: ZIPR). Managing more than $3 billion in committed venture capital, Benchmark focuses on investing in entrepreneurs with original ideas. For more information, visit www.benchmark.com.

About Carmel Ventures

Carmel Ventures is Israel's largest software focused fund. Carmel Ventures is committed to helping talented entrepreneurs translate their vision and technology into successful global software companies. Led by veterans of the software and investment industries, Carmel is a "hands-on" investor. By leveraging the extensive experience of its team and its global network of strategic partners, Carmel actively supports its portfolio companies. With $170 million under management, its investors include Citigroup, Siemens, Partners Group and other leading worldwide corporations. For more information, visit www.carmelventures.com

About Mofet Technology Fund

Mofet, a publicly traded Israeli venture capital fund on the Tel Aviv Stock Exchange (TASE), invests its operational expertise and financial resources in cultivating enabling Israeli technologies to their fullest potential in global markets. Mofet focuses on leading-edge technological sectors where Israel is recognized as a world leader such as communications, telecommunications, knowledge management, and security. Mofet currently has $100M under management, having invested in 45 companies over the past 10 years and achieving 19 exits (six of which are traded on NASDAQ). For more information, visit www.mofet.co.il

About Skybox Security

Skybox® Security pioneered the science of quantifiable security risk analysis and is driving the advancement of the Security Risk Management (SRM) market. The company's award-winning product Platform, Skybox ViewT, is the first and only software solution to create a virtual model and staging environment of an organization's network security and access profile.

This virtual model can be safely attacked, changed and analyzed for the purpose of improving the security profile of the network as well as validating the impact of proposed network changes within defined policies. The result is a more secure network, operational efficiency and reduced IT workload. Skybox View Platform supports two major applications - Skybox SecureT and Skybox AssureT - through a modular, scalable Platform.

Founded in 2002, Skybox is headquartered in San Jose, California and is privately held. Skybox View has been successfully deployed at highly respected Global 2000 companies worldwide. For more information contact (408) 441-8060 or www.skyboxsecurity.com.

Contact:

Leslie Kesselring
Kesselring Communications, LLC
leslie@kesselring.net
503-656-2847