FOR IMMEDIATE RELEASE

CONTACT
Philip Baratelli
Chief Financial Officer
Clarus Corporation
(203) 428-2000
pbaratelli@claruscorp.com

Clarus Announces First Quarter 2008 Results

STAMFORD, CONNECTICUT — May 5, 2008 — Clarus Corporation (OTC:CLRS.PK) today announced financial results for the quarter ended March 31, 2008. Clarus reported no revenues for the quarters ended March 31, 2008 and 2007, respectively. Net loss for the first quarter of 2008 increased $0.6 million, to $417,000 or $0.02 per diluted share compared to net income of $0.2 million or $0.01 per diluted share during the comparable period of 2007. The decrease in net income was primarily a result of a $255,000 decrease in interest income due to lower rates on our cash, cash equivalents and marketable securities and a $366,000 increase in general and administrative costs including $131,000 in non-cash equity compensation expense.

As of March 31, 2008, Clarus’ cash, cash equivalents and marketable securities were $87.0 million, (or $5.00 gross cash per share) compared to $87.1 million as of December 31, 2007. Gross cash per share at March 31, 2008 equals cash, cash equivalents and marketable securities of $87.0 million divided by 17.4 million common shares outstanding. Clarus has provided this Non-GAAP measure because it believes that it is useful to investors assessing the extent of Clarus’ assets available for redeployment. Clarus is unaware of any comparable GAAP measure.

Clarus estimates that it has available net operating loss, research and experimentation credit and alternative minimum tax credit carryforwards for U.S. federal income tax purposes of approximately $223.4 million, $1.3 million and $56,000, respectively, which expire in varying amounts between 2008 and 2026, after application of the limitation under Section 382 of the Internal Revenue Code. Of the approximately $223.4 million of net operating losses available to offset taxable income, approximately $206.6 million does not expire until 2020 or later, subject to compliance with Section 382 of the Internal Revenue Code. Clarus also has capital loss carryforwards of $1.6 million which expires in 2008.

Warren B. Kanders, Executive Chairman of Clarus, stated, “While the state of the economy and credit markets continue to be challenging, this has not translated into a slow-down in potentially actionable transaction opportunities under review or materially impacted our ability to seek debt financing.   We continue to be actively reviewing potential acquisition opportunities that meet our publicly stated goals of acquiring an industry market leader with solid management teams, strong free cash flow generation and a minimum EBITDA of $25 million.”
 

Clarus does not currently intend to hold conference calls to discuss quarterly earnings releases unless and until it consummates an acquisition in connection with its redeployment strategy. At such time, Clarus plans to resume holding quarterly conference calls to review earnings and operating performance.

Clarus, formerly a provider of e-commerce business solutions, is seeking to redeploy its assets and use its substantial cash, cash equivalent assets and marketable securities to enhance stockholder value.
______________
This press release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Exchange Act of 1934. Information in this release includes Clarus' beliefs, expectations, intentions and strategies regarding Clarus, its future and its products and services. Assumptions relating to the forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risks including our inability to execute successfully our planned effort to redeploy our assets to enhance stockholder value, the unavailability of our net operating loss carry forward, and that the unaudited financial information provided in this press release may be adjusted as a result of the year end audit. Clarus cannot guarantee its future performance. All forward-looking statements contained in this release are based on information available to Clarus as of the date of this release and Clarus assumes no obligation to update the forward-looking statements contained herein.

For further information regarding the risks and uncertainties in connection with Clarus' business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Clarus' filings with the Securities and Exchange Commission, including but not limited to, its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained at our web site at http://www.claruscorp.com or the SEC's web site at http://www.sec.gov.
 
 
CLARUS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
   
MARCH 31,
  
DECEMBER 31,
  
   
2008
  
2007
  
   
(unaudited)
      
ASSETS
           
CURRENT ASSETS:
           
Cash and cash equivalents
  
$
22,393
  
$
41,886
  
Marketable securities
    
64,561
    
45,223
  
Interest receivable
    
3
    
15
  
Prepaids and other current assets
    
83
    
175
  
Total current assets
    
87,040
    
87,299
  
PROPERTY AND EQUIPMENT, NET
    
1,293
    
1,381
  
TOTAL ASSETS
  
$
88,333
  
$
88,680
  
 
    
LIABILITIES AND STOCKHOLDERS' EQUITY
              
CURRENT LIABILITIES:
              
Accounts payable and accrued liabilities
  
$
370
  
$
618
  
Total current liabilities
    
370
    
618
  
 Deferred rent
    
360
    
343
  
Total liabilities
    
730
    
961
  
 
    
STOCKHOLDERS' EQUITY:
              
Preferred stock, $.0001 par value; 5,000,000 shares authorized; none
              
issued
    
--
    
--
  
Common stock, $.0001 par value; 100,000,000 shares authorized;
              
17,441,747 and 17,226,747 shares issued and 17,366,747 and 17,151,747
              
outstanding in 2008 and 2007, respectively
    
2
    
2
  
Additional paid-in capital
    
370,026
    
369,827
  
Accumulated deficit
    
(282,538
)
  
(282,121
)
Treasury stock, at cost
    
(2
)
  
(2
)
Accumulated other comprehensive gain
    
115
    
13
  
Total stockholders' equity
    
87,603
    
87,719
  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
  
$
88,333
  
$
88,680
  
 
 
CLARUS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
 (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
 
   
 THREE MONTHS ENDED 
  
   
 MARCH 31, 
  
   
 2008 
  
 2007 
  
REVENUES:
  
$
--
  
$
--
  
Total revenues
    
--
    
--
  
               
OPERATING EXPENSES:
              
General and administrative
    
1,150
    
784
  
Depreciation expense
    
89
    
90
  
Total operating expenses
    
1,239
    
874
  
               
OPERATING LOSS
    
(1,239
)
  
(874
)
OTHER EXPENSE
    
--
    
(1
)
INTEREST INCOME
    
822
    
1,077
  
 NET (LOSS)/INCOME
  
$
(417
)
$
202
  
               
(Loss)/income per common share:
              
 Basic
  
$
(0.02
)
$
0.01
  
 Diluted
  
$
(0.02
)
$
0.01
  
               
Weighted average common shares outstanding:              
 Basic
    
16,867
    
16,620
  
 Diluted
    
16,867
    
16,990
  
 
 
 
CLARUS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AMOUNTS)
   
THREE MONTHS ENDED
  
   
MARCH 31,
  
   
2008
  
2007
  
CASH FLOWS FROM OPERATING ACTIVITIES:
           
Net (loss)/income
  
$
(417
)
$
202
  
Adjustments to reconcile net (loss)/income to net cash used in operating activities:
              
Depreciation on property and equipment
    
89
    
90
  
Amortization of equity compensation plans
    
198
    
67
  
Amortization of discount and premium on securities, net
    
(595
)
  
(714
)
Changes in operating assets and liabilities:
              
Decrease/(increase) in interest receivable, prepaids and
              
other current assets
    
104
    
(107
)
(Decrease)/increase in accounts payable and accrued liabilities
    
(248
)
  
8
  
Increase in deferred rent
    
17
    
16
  
NET CASH USED IN OPERATING ACTIVITIES
    
(852
)
  
(438
)
               
CASH FLOWS FROM INVESTING ACTIVITIES:
              
Purchase of marketable securities
    
(27,641
)
  
(27,261
)
Proceeds from maturity of marketable securities
    
9,000
    
43,040
  
Sale of property and equipment
    
--
    
2
  
Purchase of property and equipment
    
--
    
(23
)
NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES
    
(18,641
)
  
15,758
  
               
CASH FLOWS FROM FINANCING ACTIVITIES:
              
               
NET CASH PROVIDED BY FINANCING ACTIVITIES
    
--
    
--
  
               
CHANGE IN CASH AND CASH EQUIVALENTS
    
(19,493
)
  
15,320
  
CASH AND CASH EQUIVALENTS, beginning of period
    
41,886
    
1,731
  
CASH AND CASH EQUIVALENTS, end of period
  
$
22,393
  
$
17,051
  
               
SUPPLEMENTAL DISCLOSURE:
              
 Cash paid for franchise and property taxes
  
$
161
  
$
141