Blue Coat Wins Deloitte Technology Fast 500 Award

Attributes 550% Revenue Growth to Increased Demand for Proxy Appliances

SUNNYVALE, Calif., Oct. 20, 2004 - Blue Coat™ Systems, Inc. (Nasdaq: BCSI), a leading provider of proxy appliances, today announced it is ranked among the 2004 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on a percentage revenue growth over five years from 1999-2003. Blue Coat grew 550% during this period.

"Making the Deloitte Technology Fast 500 is a testament to a company's commitment to technology," said Mark A. Evans, national managing partner of Deloitte's Technology, Media & Telecommunications Group. "With 550% growth over five years, Blue Coat has proven it has the leadership, vision and determination to grow in difficult conditions."

"Our growth is reflected in more and more enterprises recognizing the need to deploy Blue Coat proxy appliances for visibility and control of Web communications," said Brian NeSmith, president and CEO of Blue Coat. "We are pleased to be ranked as one of the fastest growing technology companies."

The Fast 500 list is compiled from Deloitte's 19 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research.

About Deloitte
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About Blue Coat Systems, Inc.
Blue Coat secures Web communications and accelerates business applications across the distributed enterprise. Blue Coat's family of appliances and client-based solutions - deployed in branch offices, Internet gateways, end points, and data centers - provides intelligent points of policy-based control enabling IT organizations to optimize security and accelerate performance between users and applications. Blue Coat has installed more than 40,000 appliances worldwide and is ranked #1 by IDC in the Secure Content and Application Delivery market. Blue Coat is headquartered in Sunnyvale, California. For more information, please visit www.bluecoat.de.

FORWARD LOOKING STATEMENTS: The statements contained in this press release that are not purely historical are forward-looking statements, including statements regarding Blue Coat Systems' expectations, beliefs, intentions or strategies regarding the future, including the capabilities of the ProxySG. All forward-looking statements included in this press release are based upon information available to Blue Coat Systems as of the date hereof, and Blue Coat Systems assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to Blue Coat Systems' business are set forth in Blue Coat Systems' most recently filed Form 10-Q for the quarter ended July 31, 2004, and other reports filed from time to time with the Securities and Exchange Commission.

Copyright (C) 2004, Blue Coat Systems, Inc. All trademarks, trade names or service marks used or mentioned herein belong to their respective owners.