Article 41965 of alt.security:

Soft Winter Corporation, February 10, 1997 released:
Shade - strong encryption software for Windows NT.

Shade allows you to create encrypted disk device inside a file.
Such a device can then be formatted using any file system
(like NTFS or FAT) and used as a regular disk. The only difference
is that Shade will encrypt the data on every write operation
and decrypt it on every read operation.

To download  go to: http://softwinter.bitbucket.co.il

Soft Winter Corporation,
softwinter@post1.com