Steel Vault Corporation (fka SVUL)

[di4]

Steel Vault Exceeds 7,500 Subscribers in April
Company's Active Subscriber Base at NationalCreditReport.com Increases by 70% Month-over-Month
May 5, 2009 8:30:00 AM
Copyright Business Wire 2009


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View Additional ProfilesDELRAY BEACH, Fla.--(BUSINESS WIRE)-- Steel Vault Corporation (OTCBB:SVUL) ("Steel Vault" or the "Company"), a premier provider of identity security products and services, announced today that its NationalCreditReport.com subsidiary grew its subscriber base from 4,415 active subscribers at the end of March 2009, to 7,520 active subscribers at the end of April 2009, a month-over-month increase of 70%. After an initial trial period, subscribers pay a monthly fee for receiving credit monitoring, credit reports and other identity theft protection services.

William J. Caragol, Steel Vault's Chief Executive Officer, said, "This growth represents a strong start to the second quarter of 2009 as we continue to see a steady ramp in our subscriber base. We believe we can continue to cost-effectively acquire customers while providing our members valuable products and outstanding customer service."

NationalCreditReport.com specializes in providing consumers with accurate, complete and easy-to-understand credit reporting and monitoring services.

About Steel Vault Corporation

Steel Vault, formerly known as IFTH Acquisition Corp., is a premier provider of identity security products and services, including credit monitoring, credit reports, and other identity theft protection services. Since 2004, its subsidiary, NationalCreditReport.com, has specialized in providing a variety of credit information to consumers to help protect them from identity theft and fraud.

Statements about Steel Vault's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and Steel Vault's actual results could differ materially from expected results. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on December 24, 2008, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.





Source: Steel Vault Corporation


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Steel Vault Corporation
Allison Tomek
561-805-8000
[e-mail]
or
CEOcast
Dan Schustack
212-732-4300
[e-mail]