Exhibit 99.1

Press Release

Entrust Announces Second Quarter Fiscal Year 2007 Financial Results

DALLAS – July 31, 2007 – Entrust, Inc. [Nasdaq: ENTU], a world leader in securing digital identities and information, today announced financial results for its fiscal quarter ended June 30, 2007.

Revenue for the second quarter was $24.5 million, an increase of 11% from $22.1 million in Q2, 2006. Revenue in the second quarter was driven by product revenue, which increased 21% from Q2, 2006. Deferred revenue in the second quarter increased $5.6 million over Q2, 2006 to $28.5 million, a record high. Services revenue in the quarter was $15.6 million, which is up 6% from Q2 of last year. The key driver for the increase in services revenue was the company’s 2^nd highest quarterly support and maintenance revenue attainment.

“I am pleased that we grew product revenue 29 percent for the first half of the year, we increased our deferred revenue by $5.6 million from Q2, 2006 and we generated $2.7 million in positive cash flow from operations,” said Bill Conner, Entrust Chairman, President and Chief Executive Officer. “Our focus for the second half of 2007 is on driving product revenue, increasing profitability and creating shareholder value. This quarter is off to a fast start as we have already booked over $3.5 million in product revenue, and are continuing to see activity levels that positions us well to meet our second half revenue and earnings targets.”

Entrust recorded a Q2, 2007 net loss, calculated in accordance with GAAP, of $3.2 million, or $0.05 per share, compared to Q2, 2006 net loss of $1.3 million, or $0.02 per share. On a non-GAAP basis the company recorded a loss of $1.5 million, or $0.02 per share, compared to Q2, 2006 loss of $300 thousand, or $0.00 per share. The non-GAAP figures exclude amortization of purchased intangibles and stock-option based compensation expense. See the financial table below reconciling these non-GAAP figures to GAAP.

For the second quarter 2007 the company generated $2.7 million in positive cash flow from operations and cash and marketable securities increased to $24.2 million from $20.8 million in the first quarter of 2007.

Conner added, “To increase our sales capacity and execution, this month we have added additional direct sales resources, inside sales resource, created small medium enterprise (SME) sales teams and increased our executive sales leadership. I am particularly pleased as these were accomplished while also achieving a fast start to the 3^rd quarter.”

Financial Outlook:

Entrust is targeting total revenue for the second half of 2007 of $55.0 million. Entrust is targeting a net loss of $.02 per share for the second half of 2007 and a non-GAAP income per share of $0.04. These non-GAAP results exclude the following items: amortization of intangible assets related to acquisitions and stock-based compensation. See the financial table below reconciling these non-GAAP figures to GAAP.

The following charges for the second half of 2007, reconcile the GAAP and non-GAAP earnings per share:

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Q2 Business and Financial Metrics:

Technology and Industry Highlights:

Entrust will host a live teleconference and Webcast on Tuesday, July 31, 2007 at 5:00 p.m. (Eastern), featuring Chairman, President and CEO Bill Conner and Chief Financial Officer David Wagner to discuss the company’s fiscal second quarter results and 2007 outlook. The conference call audio will be available live via dial-in at 1-800-732-6179 and via the Internet at http://phx.corporate-ir.net/playerlink.zhtml?c=73119&s=wm&e=1596960. Please log on approximately 15 minutes before the Webcast begins in order to register and to download and install any necessary audio software. An archive of the Webcast will be available for 90 days at the above Internet address.

For those unable to attend the live conference call, an audio replay will be available beginning at 7:00 p.m. (Eastern), Tuesday, July 31, 2007 through Tuesday, August 7, 2007 at 11:59 p.m. (Eastern). The North American replay number is 1- 877-289-8525 and the International replay number is 416-640-1917. Both numbers have a pass code of 21238941#.

Use of Non-GAAP Financial Measures

To supplement the financial results that are prepared and presented in accordance with accounting principles generally accepted in the United States, Entrust’s management prepares and uses non-GAAP financial measures for many of its internal financial, operating and planning reports. The company’s management believes that by excluding charges such as the purchased intangibles amortization in cost of goods sold, the amortization of purchased intangible assets in operating expenses, stock compensation expense, restructuring charges and write down of strategic investments from its GAAP-based results, these non-GAAP financial measures are more likely to facilitate investors’ understanding of the company’s ongoing business operating results. These non-GAAP financial measures also facilitate comparisons to the operating results of the company’s competitors and provide investors with greater transparency with respect to the supplemental information used by management in its operational and financial decision making.

The non-GAAP measures are included to provide investors with supplemental information to facilitate their understanding of Entrust’s operating results and future prospects. Management uses these non-GAAP measures to assess its success in reducing the company’s cost structure, to measure its ongoing cash operating costs, and to establish budgets and operational goals. The presentation of this additional information should not be considered in isolation or as a substitute for financial and operating results prepared in accordance with accounting principles generally accepted in the United States, as non-GAAP measures are susceptible to varying calculations and they may not be comparable, as presented, to other similarly titled measures of other companies.

This press release contains forward-looking statements relating to Entrust’s projected revenue, net income and net loss per share and non-GAAP income per share for the second half of 2007. Such statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are unforeseen operating expenses, unconverted customer opportunities, issues associated with revenue recognition, issues raised in

connection with the review of quarterly financial results, and the risk factors detailed from time to time in Entrust’s periodic reports and registration statements filed with the Securities and Exchange Commission, including without limitation Entrust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006. While Entrust may elect to update forward-looking statements in the future, Entrust specifically disclaims any obligation to do so, even if its estimates change.

About Entrust

Entrust, Inc. [NASDAQ: ENTU] is a world leader in securing digital identities and information. Over 1,650 enterprises and government agencies in more than 50 countries use Entrust solutions to help secure the digital lives of their citizens, customers, employees and partners. Our proven software and services can help customers in achieving regulatory and corporate compliance, while helping to turn security challenges such as identity theft and email security into business opportunities. For more information on how Entrust can help secure your digital life, please visit: www.entrust.com

Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks of Entrust. All other company and product names are trademarks or registered trademarks of their respective owners.

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ENTRUST, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

ENTRUST, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

The following supplemental tables provide non-GAAP financial measures used by the company’s management to evaluate operational results. The company believes this information may be useful to investors. In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (GAAP), the company’s earnings release contains non-GAAP financial measures that exclude the income statement effects of share-based compensation, amortization of purchase product rights, non recurring restructuring and impairment charges. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

Set forth below are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures.

For additional information regarding these non-GAAP financial measures, see the Form 8-K dated April 25, 2007 that Entrust has filed with the Securities and Exchange Commission.

ENTRUST, INC.

SUPPLEMENTAL

RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

(in thousands, except per share data)

Forward Looking Guidance

Earnings Per Share