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Directors' Dealings

Directors’ Dealings according to §15a WpHG.

Transaction date: 21.06.2007
Place: Frankfurt
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Inventment GmbH iL
Relationship to issuer: a legal person associated with a member of our supervisory board (Hans Strack-Zimmermann)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: buying of 5,974 shares (in the framework of the capital increase) at EUR 4.30 (EUR 25,688.20)

Transaction date: 05.02.2007
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Inventment GmbH iL
Relationship to issuer: a legal person associated with a member of our supervisory board (Hans Strack-Zimmermann)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: buying of 59,741 shares at EUR 4.24 (EUR 253,301.84)

Transaction date: 16.02.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 45,842 shares at EUR 2.71
(EUR 124,231.82)

Transaction date: 04.02.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 400,000 shares at EUR 2.80
(EUR 1,120,000.00)

Transaction date: 03.02.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: buying of 1.577 shares at EUR 2.80
(EUR 4,415.60)

Transaction date: 03.02.2005
Place: OTC
Issuer, address: update Software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Gilbert Hödl
Relationship to issuer: member of supervisory board
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 1,577 shares at EUR 2.80
(EUR 4,415.60)

Transaction date: 02.02.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Frank Hurtmanns
Relationship to issuer: member of supervisory board
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: buying of 3,800 shares (in the framework of the capital increase) at EUR 2.61 (EUR 9,918.00)

Transaction date: 02.02.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Monika Fiala
Relationship to issuer: member of the board of directors
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: buying of 10.000 shares (in the framework of the capital increase) at EUR 2.61 (EUR 26,100.00)

Transaction date: 01.02.2005
Place: Frankfurt
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Stiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 20,000 shares at EUR 2.8315
(EUR 56,630.00)

Transaction date: 31.01.2005
Place: Frankfurt
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 20,000 shares at EUR 2.8597
(EUR 57,194.00)

Transaction date: 28.01.2005
Place: Vienna
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 20,000 shares at EUR 2.865
(EUR 57,300.00)

Transaction date: 27.01.2005
Place: OTC
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Frank Hurtmanns
Relationship to issuer: member of supervisory board
Securities: no-par shares (subscription rights)
WKN/ISIN: 934523/AT0000747555 (AT0000747597)
Dealings: exercise of subscription rights to buy 43 shares at EUR 2.61 (EUR 112.23)

Transaction date: 27.01.2005
Place: Vienna
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares (subscription rights)
WKN/ISIN: 934523/AT0000747555 (AT0000747597)
Dealings: exercise of the subscription rights to buy 45,842 shares at EUR 2.61 (EUR 119,647.62)

Transaction date: 27.01.2005
Place: Vienna
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Gilbert Hödl
Relationship to issuer: member of supervisory board
Securities: no-par shares (subscription rights)
WKN/ISIN: 934523/AT0000747555 (AT0000747597)
Dealings: exercise of the subscription rights to buy 9,381 shares at EUR 2.61 (EUR 24,484.41)

Transaction date: 03.11.2004
Place: Vienna
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal person associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 7,582 shares at EUR 2.80
(EUR 21,229.60)

Transaction date: 02.11.2004
Place: Vienna
Issuer, address: update software AG, Operngasse 17-21, A-1040 Vienna
Notifiable person: Xpansive Privatstiftung
Relationship to issuer: a legal member associated with a member of our supervisory board (Mr. Gilbert Hödl)
Securities: no-par shares
WKN/ISIN: 934523/AT0000747555
Dealings: selling of 16,677 shares at EUR 2.823
(EUR 47,079.17)
Contact
Andreas Mössner
Investor Relations Manager



update software AG
Operngasse 17 - 21
1040 Vienna
Austria

Tel.: +43 1 878 55 512
Fax: +43 1 878 55 9512

e-mail
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