I recently upgrade my Cisco ASA 5510 to 8.4 and started getting exchange server bounces. I started doing some test and realized my sever was not responding to server HELO 220 request with my domain info. It was showing 220 **********************************. Somehow having ESMTP enabled in my global inspect policy was modifying my HELO 220. If you are having similar problems disable ESMTP in you global inspect policy.
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