Microsoft (NASDAQ:MSFT) is offering a revised beta version of its new and improved Internet Explorer 7 Web browser this week, and the watchword is "safety." Microsoft's timing is key, considering that several smaller browser rivals have been encroaching on its territory -- and today, a very strong competitive jab from two major competitors popped up in some IE users' searches.

This beta release of IE 7 isn't the first beta of the new browser, which will be finalized later this year for inclusion in Microsoft's new Windows Vista operating system. The latest beta ostensibly addresses some of the big-time security concerns that have plagued Windows users on the Web, contributing to some of the success of rival Internet browser Firefox since its launch. The revised IE also includes many of the features that the success of upstarts like Firefox made virtually mandatory for discerning Web surfers.

The latest IE includes tabbed browsing, advanced printing features, integrated support for RSS news and information feeds, and anti-phishing technology to help prevent users from getting suckered in by phony Web sites that look like trusted destinations. In addition, the newest beta includes color-coded warnings that alert users when they're about to go to a website that's known to be sketchy, in terms of security.

Initial reviews report that this beta test is more stable and integrates a few more features, but it still strikes me as Microsoft's attempt to catch up with Firefox's technologies. Firefox has done quite well; last month, IE's market share sank to 85%, while Firefox had increased to more than 10%. That's significant, considering that most people run Windows on their computers, and IE has been viewed as the operating system's default browser. (IE's smaller rivals include Opera and Apple's (NASDAQ:AAPL) Mac-only Safari.)

Another important element has been Google's (NASDAQ:GOOG) ongoing support of Firefox. (Google includes Firefox in its Google Pack collection of downloadable Web tools, and last year, it offered a bounty to sites that included a button to download Firefox.) In fact, today Google's main search page offers up some Firefox love to surfers using the IE browser. A Google spokesperson confirmed that the banner on Google's front page promotes Firefox with Google Toolbar, an extension of the program announced last year to encourage Firefox referrals through Google's AdSense program. According to Google, "tabbed browsing and safer surfing help provide our users with a great search experience." Indeed, those two features have been Firefox's claims to fame all along in the browser's rivalry with IE. Google may be playing it cool, but its big Firefox push still represents a fairly pointed competitive jab against Microsoft.

Google and Firefox's timing couldn't be better, given Microsoft's attempt with its latest beta release to convince users that it's got all the right moves in innovation and security. Firefox has done well enough with its grassroots campaigns since 2004; with Google on its side, the coming browser wars should continue to be interesting indeed.

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Alyce Lomax does not own shares of any of the companies mentioned. She does most of her Internet browsing with Firefox; she's always been a sucker for the underdog.