This paper reports our ongoing work towards a novel se cure execution scheme of mobile objects that are especially utilized to extend, reconfigure or maintain a dynamically extensible and/or context-aware systems. The overall mo tivation is to develop a security architecture that protects the systems and the privacy of their users from potentially malicious mobile objects. Our security architecture, called Taurus-1, adopts monitored execution as a basic security enforcement mechanism. To describe security policies we designed an algebraic policy description language Polaris, in which we can specify a policy as a collection of hierar chically described process modules. We show how Taurus 1 can provide a security enhancement mechanism for such extensible and/or context-aware systems and then discuss how to specify security policies for them.