SSH Communications Security — Interim / Quarterly Report 2015

Jul 23, 2015

SSH COMMUNICATIONS SECURITY CORPORATION FINANCIAL STATEMENT RELEASE, JANUARY 1 – JUNE 30, 2015

SSH COMMUNICATIONS SECURITY CORPORATION FINANCIAL STATEMENT RELEASE, JANUARY 1 – JUNE 30, 2015

Helsinki, 2015-07-23 08:00 CEST (GLOBE NEWSWIRE) -- SSH COMMUNICATIONS SECURITY
CORPORATION FINANCIAL STATEMENT RELEASE, JANUARY 1 - JUNE 30, 2015

April-June 2015: 24.0 % net sales growth, losses due to high share of lower
margin service business and investments to future growth. Cash flow negative,
cash position remained strong.

-- Net sales totaled EUR 4.2 million, up by 24.0 % year on year (EUR 3.4
million in 4
-
6/2014).
-- Operating loss was EUR -1.8 million (EUR -0.6 million). Loss was EUR -1.6
million (EUR -0.6 million).
-- Earnings per share EUR -0.05 (EUR -0.02).

January-June 2015: 75.2 % net sales growth, losses due to high share of lower
margin service business and delays in closing software deals and investments to
future growth. Cash flow from operations slightly negative and cash position
strengthened strongly due to convertible capital securities.

-- Net sales totaled EUR 11.0 million, up by 75.2 % year on year (EUR 6.3
million in 1
-
6/2014).
-- Operating loss was EUR -2.1 million (EUR -1.5 million). Loss was EUR -2.0
million (EUR -1.5 million)
-- Earnings per share EUR -0.08 (EUR -0.06).

Equity ratio remained good 64.5 % (68.8 %) and liquid assets increased to EUR
11.3 million (EUR 4.6 million).

In 2015, SSH Communications Security estimates its revenue to grow
significantly from 2014.

KEY FIGURES

                                  4-6/   4-6/   1-6/   1-6/  Change %  1-12/
                                  2015   2014   2015   2014             2014

--------------------------------------------------------------------------------

Net sales (MEUR) 4.2 3.4 11.0 6.3 75.2 16.2

Operating profit/loss (MEUR) -1.8 -0.6 -2.1 -1.5 -42.6 0.2

% of net sales -41.6 -17.3 -19.3 -23.7 18.6 1.3

Profit/loss before taxes (MEUR) -1.6 -0.6 -1.9 -1.5 -30.6 0.4

Profit/loss (MEUR) -1.6 -0.6 -2.0 -1.5 -27.0 0.3

---

Return on equity, % -18.4 -23.1 20.1 4.3

Return on investment, % -18.0 -22.1 18.2 2.7

Liquid assets 11.3 4.6 145.4 6.1

Gearing (%) -86.2 -77.4 -11.3 -77.3

Equity ratio (%) 64.5 68.8 -6.3 63.3

---

Earnings Per Share (EUR) -0.05 -0.02 -0.08 -0.06 -34.3 -0.00

Shareholders' equity per share 0.43 0.19 0.43 0.19 124.2 0.25
(EUR)

---

CEO'S REVIEW

Valued customers, partners, coworkers, and shareholders,

During the second quarter of 2015 we placed particular focus on further
developing our technology partnerships in order to accelerate channel building
for some of our key products. I will share a few milestones accomplished during
the quarter:

-- SSH is now one of the first companies offering cloud based Personal Access
Management (PAM) as an Advanced Metering Infrastructure (AMI) on Amazon Web
Services (AWS).
-- McAfee certification against World Wide Web interface and Data Loss
Prevention (DLP) enables customers to take preventive action against
malware embedded into encrypted file transfers.
-- RSA Certification against RSA Analytics permits customers to offload
encrypted Secure Sockets Layer (SSL) and Secure Shell (SSH) sessions for
further inspection and alerting.
-- Through Virtual Computing Environment Company's (VCE) Technical Alliance
Program (TAP) SSH Communications Security is now in the process of
certifying CryptoAuditor against Vblock. This will permit customers to
audit, control and monitor encrypted Secure Shell (SSH), Remote Desktop
Protocol (RDP) and Secure Sockets Layer (SSL) access to the Vblock layers
(application, networking and storage).

The quarter also saw SSH closing several important contracts for CryptoAuditor
with major customers in the Telco, Entertainment, Energy, Utilities, Education
and Financial sector. We continued our deployment work at major financial
institutions with our Universal Key Manager and closed important new contracts
in that sector too.

Our heightened emphasis on solidifying our immaterial rights portfolio
management has led to several ongoing negotiations with key global players and
we will continue to pursue this path during the rest of the year. Our
government specific offering has gained further ground as well, broadening our
view of the market and leading to several significant contacts and ongoing
negotiations.

We have continued our intense investment into product development to better
respond to the market's needs and to take advantage of our customers'
continuously increasing demands on trusted access within their working
environments.

Increased investment into marketing, sales and product development, together
with a non-optimal sales mix, elongated sales cycles, especially in the Key
Management and Government segments, and the costs of establishing new sales and
service channels led to unsatisfactory profitability in the first half of the
year.

We are committed to reshaping our organization to better respond to the market
and especially to broaden our focus into recognizing different customer
segments and fulfilling their needs.

Harri Koponen
CEO

NET SALES

Consolidated net sales for April-June totaled EUR 4.2 million (EUR 3.4
million), up by 24.0 %, year on year.

Consolidated net sales for January-June totaled EUR 11.0 million (EUR 6.3
million), up by 75.2 %, year on year. Net sales grew significantly in Americas
and EMEA, and by all revenue types. Share of service business was exceptionally
high.

The Americas, the Europe, Middle East and Africa (EMEA) market area and theAsia Pacific region accounted for 64.1 % (55.8 %), 28.8 % (30.5 %) and 7.1 %
(13.7 %) of reported net sales, respectively.

SSH NET SALES

EUR million 4-6/ 4-6/ 1-6/ 1-6/ Change % 1-12/
2015 2014 2015 2014 2014

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---

BY SEGMENT

AMERICAS 2.9 2.3 7.1 3.5 101.1 10.2

APAC 0.5 0.5 0.8 0.9 -9.0 1.8

EMEA 0.8 0.6 3.2 1.9 65.7 4.2

SSH Group Total 4.2 3.4 11.0 6.3 75.2 16.2

---

BY OPERATION

Software fees 0.6 1.0 2.4 1.6 50.3 5.8

Professional services & other 1.8 0.8 4.9 1.6 207.6 4.1

Recurring revenue 1.8 1.6 3.7 3.1 20.7 6.3

Total 4.2 3.4 11.0 6.3 75.2 16.2

The majority of company´s invoicing is U.S. dollar based. With comparable
exchange rates, net sales growth would have been 57.3 % compared with 2014
corresponding period.

RESULTS AND EXPENSES

Operating loss for April-June was EUR -1.8 million (EUR -0.6 million), with
loss totaling EUR -1.6 million (EUR -0.6 million).

Operating loss for January-June was -2.1 million (EUR -1.5 million), with loss
totaling EUR -2.0 million (EUR -1.5 million). Profitability was influenced by
high share of service sales, delays in software license deals and continued
investments to sales, marketing and product development.

Sales, marketing and customer support expenses for the April-June reporting
period amounted EUR -2.3 million (EUR -2.0 million), while research and
development expenses totaled EUR -1.5 million (EUR -1.1 million) and
administrative expenses EUR -0.4 million (EUR -0.2 million).

Sales, marketing and customer support expenses for the January-June reporting
period amounted EUR -4.4 million (EUR -3.7 million), while research and
development expenses totaled EUR -2.8 million (EUR -2.0 million) and
administrative expenses EUR -0.8 million (EUR -0.7 million).

BALANCE SHEET AND FINANCIAL POSITION

The financial position of SSH Communications Security remained in good level
during the reporting period. The consolidated balance sheet total on June 30,
2015 stood at EUR 24.2 million (June 30, 2014 EUR 12.0 million; December 31,
2014 EUR 17.5 million), of which liquid assets accounted for EUR 11.3 million
(June 30, 2014 EUR 4.6 million; December 31, 2014 EUR 6.1 million), or 46.8 %
of the balance sheet total. On June 30, 2015, gearing, or the ratio of net
liabilities to shareholders' equity, was -86.2 % (June 30, 2014 -77.4 %;
December 31, 2014 -77.3 %) and the equity ratio stood at 64.5 % (June 30, 2013
68.8 %; December 31, 2014 63.3 %). The capital securities of EUR 4 million
issued in December 2012 and interests were paid in April. During March,
convertible capital securities of EUR 12.0 million were issued.

The reported gross capital expenditure for the period totalled EUR 1.2 million
(EUR 0.9 million). The reported financial income and expenses consisted mainly
of interest on deposits and exchange rate gains or losses. Financial income and
expenses totalled EUR 0.2 million (EUR 0.0 million).

During January-June, SSH Communications Security reported a negative cash flow
of EUR -0.2 million (EUR -0.4 million) from business operations, and
investments showed a negative cash flow of EUR -1.2 million (EUR -0.9 million).
Cash flow from financing totaled EUR 6.9 million (EUR -0.0 million). Total cash
flow from operations, investments and financing was positive EUR 5.5 million
(EUR -1.3 million).

Fair value of short term investment is determined from quoted prices available
from markets. Financial investment belongs to level 1 according to IFRS 7.
Market value of financial investment was EUR 0.0 million (EUR 2.0 million) and
nominal value EUR 0.0 million (EUR 2.0 million).

RESEARCH AND DEVELOPMENT

Research and development expenses for April-June totaled EUR -1.5 million (EUR
-1.1 million), the equivalent of 36.5 percent of net sales (32.1 percent).
During April-June, the company has capitalized R&D costs EUR 0.6 million (EUR
0.4 million).

Research and development expenses for January-June totaled EUR -2.8 million
(EUR -2.0 million), the equivalent of 25.3 percent of net sales (31.7 percent).
In the reporting period, R&D cost capitalizations amounted to EUR 1.0 million
(EUR 0.8 million).

HUMAN RESOURCES AND ORGANIZATION

At the end of June, the Group had 111 employees on its payroll. The amount of
employees increased by 12 persons from the previous year (+12 %) and by 16
persons from the previous quarter.

At the end of the period, 37.8 % of the employees worked in sales, marketing
and customer services, 50.5 % in R&D, and 11.7 % in corporate administration.

BOARD AND AUDITORS

At the Annual General Meeting, March 25, 2015, Jukka Manner was elected and
Päivi Hautamäki, Timo Syrjälä and Tatu Ylönen were re-elected to directors of
the company. Timo Syrjälä was elected as the Chairman of the Board of Directors
in the board´s organizing meeting.

The Authorized Public Accountants KPMG Oy Ab was re-elected as the auditor of
the company with Kirsi Jantunen, KHT, as the accountant with the main
responsibility.

SHARES, SHAREHOLDING AND CHANGES IN GROUP STRUCTURE

The reported trading volume of SSH Communications Security shares totaled
5,507,889 shares (valued at EUR 27,450,402). The highest quotation was EUR 6.32
and the lowest EUR 2.52. The trade-weighted average share price for the period
was EUR 4.98 and the share closed at EUR 4.07 (June 30, 2015).

Company's principal owner Tatu Ylönen holds directly and through his company,
Clausal Computing Oy, 56.9 % of the company's shares, Juha Mikkonen holds
directly and through his company under his control, Assetman Oy, 10.0 % and
Timo Syrjälä holds directly or through his companies 5.0%. More information
about the shareholding can be obtained from the company´s web site.

No dividend or return of capital has been distributed during the reporting
period.

SHARE CAPITAL AND BOARD AUTHORIZATIONS

The company's registered share capital on June 30, 2015 was EUR 929,469.99,
consisting of 30,982,333 shares.

The Annual General Meeting approved the Board of Directors' proposal to
authorize the Board of Directors to decide upon the issuing of a maximum of
4,000,000 shares as a share issue against payment or by giving stock options or
other special rights entitling to shares, in accordance with Chapter 10 Section
1 of the Finnish Limited Liability Companies Act, either according to the
shareholders' pre-emptive right to share subscription or deviating from this
right, in one or more tranches. Based on the authorization, it can be either
issuing of new shares or transfer of own shares which the company possibly has
in its possession. Based on the authorization, the Board of Directors shall
have the same rights as the Annual General Meeting to decide upon the issuing
of shares against payment and special rights (including stock options) in
accordance with

Chapter 10 Section 1 of the Finnish Limited Liability Companies Act. Thereby,
the authorization to be given to the Board of Directors includes, inter alia,
the right to deviate from the shareholders' pre-emptive rights with directed
issues providing that the company has a weighty financial reason for the
deviation in respect of the share issue against payment.

Furthermore, the authorization includes the Board of Directors' right to decide
upon who are entitled to the shares and/or stock options or special rights in
accordance with Chapter 10 Section 1 of the Finnish Limited Liability Companies
Act as well as upon the related compensation, subscription and payment periods
and upon the registering of the subscription price into the share capital or
invested non-restricted equity fund within the limits of the Finnish Limited
Liability Companies Act.

The authorization will be valid until the next Annual General Meeting, but will
however expire at the latest on June 30th 2016.

The Annual General Meeting approved the Board of Directors' proposal to
authorize the Board of Directors to decide upon the acquiring of a maximum of
2,000,000 own shares of the company with assets belonging to the company's
non-restricted equity. This amount corresponds approximately to 6.5 % of all
the shares of the company. The shares can also be acquired otherwise than in
proportion to the holdings of the existing shareholders (targeted repurchase).
The maximum compensation to be paid for the acquired shares shall be the market
price at the time of purchase, which is determined in the public trading.

The authorization for the acquiring of the company's own shares will be used,
inter alia, to strengthen the company's capital structure, to finance and
realize corporate acquisitions and other arrangements, to realize the
share-based incentive programs of the company or otherwise to be kept by the
company, to be transferred for other purposes or to be cancelled. The
acquisition of shares reduces the company's distributable non-restricted
equity.

Decision concerning the acquiring of own shares cannot be made so that the
combined amount of the own shares which are in the possession of, or held as
pledges by, the company or its subsidiaries exceeds one-tenth of all shares.
The Board of Directors shall decide upon all other matters related to the
acquisition of shares.

The authorization will be valid until the next Annual General Meeting, but will
however expire at the latest on June 30th 2016.

RISKS AND UNCERTAINTIES

Largest risks that might impact the profitability of the company have remained
by and large the same than in previous reporting period and are listed below.
Other risks, which are currently either unknown or considered immaterial to SSH
Communications Security may, however, become material in the future.

Largest risks:

• continuing uncertainty of the macroeconomic environment
• delays on product development and closing new business
• competitiveness of the product portfolio including intellectual property (IPR)
• litigation, especially in U.S. market
• competitive dynamics in the industry
• ability of the organization to scale up operations with the growth
• large portion of the company revenue is invoiced in USD currency so possible
  large fluctuation in USD currency rates during 2015 could have unpredictable
  effects for profitability that are at the time difficult to estimate. Currently
  USD currency position is not hedged, and company decides hedging of USD based
  contracts case by case.

Utilization of the company´s patent portfolio may have significant positive
and/or negative impacts.

Principles and organization of risk management of SSH Communications Security
can be read from company´s webpage: www.ssh.com.

FUTURE OUTLOOK

In 2015, SSH Communications Security estimates its revenue to grow
significantly from 2014.

RELATED PARTY TRANSACTIONS

Clausal Computing Oy, a fully owned company of SSH Communications Security's
Chief Innovation Officer Tatu Ylönen, has delivered the company mainly R&D
services valued in total EUR 0.2 million during January-June 2015. Tatu Ylönen
subscribed EUR 0.5 million of the hybrid capital securities issued by the
company on March 30th. The interests and capital securities of EUR 4 million
issued in December 2012 and subscribed by Tatu Ylönen, were paid in April.
During the reporting period, there have not been any other significant
transactions with related parties.

EVENTS AFTER THE BALANCE SHEET DATE

As announced on July 9, 2015, a major global technology company has selected
SSH Communications Security's Universal SSH Key Manager for centralized key
management and access control for its business critical infrastructure. As
announced on July 22, 2015, SSH Communications Security has established its
presence in Tokyo for Japanese markets. The SSH Communications Security´s
management is not aware of any other transactions that happened after the
reporting period.

REPORTING

This financial statement release is prepared according to IAS 34. Financial
statement release follows the same principles and standards as the previous
financial statement release. Additionally the effective changes in IAS/IFRS
standards during the reporting period have been adopted. These changes have no
material impact on the interim report. The information presented in this
interim report has not been audited.

SSH Communications has redefined sales reporting by operations. New reporting
is Software (previous license sales excluding monthly subscription fees),
Professional services & other (previous consulting & other) and Recurring
revenue (previous maintenance and monthly subscription fees). The impact for
comparison figures of 2014 and first quarter 2015 interim report is
insignificant.

SSH Communications Security has changed the operational mode into global
operational mode and ceased to report regional segments during 2015.

TABLES

SHORT COMPREHENSIVE INCOME STATEMENT

EUR million 4-6/ 4-6/ 1-6/ 1-6/ 1-12/
2015 2014 2015 2014 2014

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Net sales 4.2 3.4 11.0 6.3 16.2

Cost of goods sold -1.8 -0.7 -5.2 -1.3 -3.3

Gross profit 2.4 2.7 5.8 5.0 12.9

Other operating income 0.0 0.0 0.0 0.0 0.0

---

Sales, marketing and customer support -2.3 -2.0 -4.4 -3.7 -7.3
costs

---

Product development expenses -1.5 -1.1 -2.8 -2.0 -4.0

Administrative expenses -0.4 -0.2 -0.8 -0.7 -1.3

---

Operating profit/loss -1.8 -0.6 -2.1 -1.5 0.2

---

Financial income and expenses 0.2 0.0 0.2 0.0 0.2

---

Profit/loss before taxes -1.6 -0.6 -1.9 -1.5 0.4

Taxes -0.0 -0.0 -0.0 -0.1 -0.1

---

Net profit/loss for the financial period -1.6 -0.6 -2.0 -1.5 0.3

Non-controlling interest 0.0 0.0 0.0 0.0 0.0

Other profit and loss account items:

Items which might be later transferred to
P/L statement

---

---

Foreign subsidiary translation differences 0.0 0.0 -0.4 0.0 -0.4

Net change in fair value of 0.0 0.0 0.0 0.0 0.0
available-for-sale
financial assets

---

--------------------------------------------------------------------------------

Total comprehensive income -1.6 -0.6 -2.4 -1.5 -0.1

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Net profit/loss attributable to:

---

Owners of the Company -1.6 -0.6 -2.0 -1.5 -0.1

Non-controlling interest 0.0 0.0 0.0 0.0 0.0

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EARNINGS PER SHARE

Earnings per share (EUR) -0.05 -0.02 -0.08 -0.06 -0.00

Earnings per share diluted (EUR) -0.05 -0.02 -0.06 -0.05 -0.00

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BALANCE SHEET

EUR million

                                          30.6.2015    30.6.2014  31.12.2014

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ASSETS

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Non-current assets

Tangible assets 0.3 0.2 0.2

Intangible assets 4.2 3.5 3.8

Investments 0.0 0.0 0.0

Total non-current assets 4.5 3.7 4.0

---

Current assets

Trade and other receivables 8.2 3.8 7.5

Short-term financial assets 0.0 2.0 0.0

Cash and cash equivalents 11.6 2.5 6.1

Total current assets 19.7 8.3 13.6

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Total assets 24.2 12.0 17.5

---

LIABILITIES AND SHAREHOLDERS' EQUITY

---

Shareholders' equity

Equity attributable to the parent company 13.4 6.0 7.9
shareholders total

---

---

Non-controlling interest 0.0 0.0 0.0

Shareholders' equity total 13.4 6.0 7.9

---

Non-current liabilities

Provisions 0.0 0.0 0.0

Non-current interest-bearing liabilities 0.0 0.0 0.0

Total long-term liabilities 0.0 0.0 0.0

---

Current liabilities 10.8 6.1 9.7

---

Liabilities total 10.8 6.1 9.7

---

Total equity and liabilities 24.2 12.0 17.5

CASH FLOW STATEMENT

EUR million 1-6/2015 1-6/2014 1-12/2014

---

Cash flow from business operations -0.2 -0.4 1.8

Cash flow from investments -1.2 -0.9 -1.8

Cash flow from financing 6.9 0.0 2.1

---

Increase(+) / decrease(-) in cash 5.5 -1.3 2.1

---

Cash at period start 6.1 3.8* 3.8*

Effect of exchange rate 0.2 0.0 0.1

Cash at period end 11.6 2.5* 6.1

* cash at period end/start does not include investments other than mutual funds
of short term interest, thus investment of 2.0 million EUR is excluded from
cash at period end in corresponding reporting period.

STATEMENT ON
CHANGES IN
SHAREHOLDERS'
EQUITY

---

EUR Share Fair Other Transla Fund Non-con Unrestricted Total
milli capita value fund + tion for trollin equity funds
on l reserv other differe own g and retained
es equity nce shares interes earnings
fund t

---

Shareh 0.9 0.4 4.1 -1.3 0.0 0.0 3.3 7.4
olders
'
equit
y
Jan 1,
2014

---

---

Change 0.0 0.0 0.0 0.1 0.1

Net -1.5 -1.5
profi
t

---

---

Shareh 0.9 0.4 4.1 -1.3 0.0 0.0 1.9 6.0
olders
'
equit
y
Jun
30,
2014

---

---

Change 0.0 0.4 0.0 -0.4 0.1

Net 1.7 1.7
profi
t

---

---

Shareh 0.9 0.9 4.1 -1.7 0.0 0.0 3.6 7.9
olders
'
equit
y
Jan 1,
2015

---

---

Change 0.0 0.3 7.6 -0.4 7.5

Net -2.0 -2.0
profi
t

---

---

Shareh 0.9 1.2 11.7 -2.0 0.0 0.0 1.6 13.4
olders
'
equit
y
Jun
30,
2015

---

KEY FIGURES AND RATIOS

EUR million 1-6/ 1-6/ 1-12/
2015 2014 2014

---

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Net sales 11.0 6.3 16.2

Operating profit/loss -2.1 -1.5 0.2

Operating profit/loss as % of net sales -19.3 -23.7 1.3

Profit/loss before extraordinary items and taxes -1.9 -1.5 0.4

Profit/loss before extraordinary items and taxes as % of -17.5 -23.4 2.5
net sales

---

Profit/loss before taxes -1.9 -1.5 0.4

Profit/loss before taxes as % of net sales -17.5 -23.4 2.5

Return on equity (%) -18.4 -23.1 4.3

Return on investment (%) -18.0 -22.1 2.7

Interest-bearing net liabilities -11.6 -4.6 -6.1

Equity ratio (%) 64.5 68.8 63.3

Gearing (%) -86.2 -77.4 -77.3

Gross capital expenditure 1.2 0.9 1.9

% of net sales 11.3 14.5 11.5

R&D expenses 2.8 2.0 4.0

% of net sales 25.3 31.7 25.0

Personnel period average 103 100 97

Personnel period end 111 99 95

Calculation for key figures and ratios are presented in 2014 financial
statement and annual report. There have not been changes in calculation rules
after that.

PER SHARE DATA

EUR 1-6/ 1-6/ 1-12/
2015 2014 2014

---

---

Earnings per share undiluted* -0.08 -0.06 -0.00

Earnings per share diluted* -0.06 -0.05 -0.00

Equity per share 0.43 0.19 0.25

No. of shares at period average (thousand) 30,976 30,753 30,817

No. of shares at period end (thousand) 30,982 30,825 30,974

Share performance

Average price 4.98 3.05 2.85

Low 2.52 2.71 2.31

High 6.32 3.74 3.74

Share price period end 4.07 2.78 2.51

Market capitalization period end (EUR million) 126.1 85.7 77.8

Volume of shares traded (million) 5.5 1.9 3.6

Volume of shares traded as % of total 17.8 6.3 11.7

Value of shares traded (EUR million) 27.5 5.9 10.3

Price per earnings ratio (P/E) neg. neg. neg.

Dividend per share 0.00 0.00 0.00

Dividend per earnings, % 0.00 0.00 0.00

Effective return on dividend, % 0.00 0.00 0.00

* earnings per share is impacted by unpaid interest of hybrid capital securities

CONTINGENT LIABILITIES

EUR million 30.6.2015 30.6.2014 31.12.2014

Hybrid Loan, Interest 0.2 0.4 0.6

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Rent security deposits 0.1 0.1 0.1

Leasing commitments outside the balance sheet

Maturing within 1 year 0.4 0.5 0.4

Maturing between 1 and 5 years 0.8 0.1 0.8

DISCLAIMER

The content in this report is provided by SSH Communications Security and its
third party content providers for your personal information only. And does not
constitute an offer or invitation to purchase any securities. Nor does it
provide any form of advice (investment. tax. legal) amounting to investment
advice. Or make any recommendations regarding particular investments or
products. SSH Communications Security does not provide investment advice or
recommendations to buy or sell its shares or the shares of others. If you are
interested in investing in SSH Communications Security, please contact your
financial adviser for further details and information. Past performance of SSH
Communications Security shares is not indicative of future results. EXCEPT AS
PROVIDED BY APPLICABLE COMPULSORY LAW SSH COMMUNICATIONS SECURITY EXPRESSLY
DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED. AS TO THE AVAILABILITY,
ACCURACY OR RELIABILITY OF ANY OF THE CONTENT PROVIDED, OR AS TO THE FITNESS OF
THE INFORMATION FOR ANY PURPOSE.

SSH Communications Security will release its next interim report for the periodJanuary 1 - September 30, 2015 on October 22nd, 2015.

Helsinki, July 23th, 2015

SSH COMMUNICATIONS SECURITY

Board of Directors

Harri Koponen
CEO

For further information, please contact:
Harri Koponen, CEO, tel. +358 20 500 7000
Jyrki Lalla, CFO, tel. +358 45 340 4641

Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.SSH.com