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Mountain View, California - (Cheap Web Hosting Directory) - October 25, 2005 - Internet infrastructure company, VeriSign, Inc., and the Internet Corporation for Assigned Names and Numbers (ICANN) have reached a settlement in their ongoing lawsuit.

VeriSign and ICANN reached an agreement that strikes the important balance of providing business certainty for VeriSign and other registry operators while ensuring that ICANN can play an effective and clearly established role as technical coordinator.

A critical component to strike that balance is a framework that establishes processes and guidelines for the introduction of new services, provides business certainty for top-level domain name registry operators and embraces a sensible market approach to registry pricing. VeriSign and ICANN also agreed to extend the .com registry agreement through 2012.

According to Mark McLaughlin, Senior Vice President and General Manager of VeriSign’s Naming and Directory Services business unit, ”An agreement could not have been reached without both sides trying to find compromise and new solutions. VeriSign’s objective was to gain clarity and business certainty for Internet operators. We are confident that this agreement accomplishes that objective and provides a framework for strong industry-ICANN partnership based on clear definitions and processes.”

VeriSign has stateds that it looks forward to working more closely with ICANN and the Internet community to ensure the security and stability of the Internet, drive innovations that benefits Internet users and strengthen the private-public partnership that has nurtured the Internet’s dynamic rise as a critical infrastructure for commerce and communications.

For further information, please visit: www.verisign.com.

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