update software AG decides capital increase

Ad-hoc release according to §15 WpHG
Capital Increase
update software AG decides capital increase
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Vienna, Frankfurt, January 13, 2005 +++ Based on the authorization granted to the management board within the annual general meeting of update software AG on May 4 2001, the board has decided in its meeting held today on a partial use of the authorized capital. Thus, it has been decided to increase the company’s share capital of EUR 9,381,967 by issuing up to 938,196 bearer shares against a cash contribution up to EUR 938,196, resulting in a share capital of the company up to EUR 10,320,163. The price per share is EUR 2.61. The subscription rights on new shares are not affected. The supervisory board has approved the increase in share capital by circular resolution.
IR Contact:
Jochen Zemroser
update software AG
Operngasse 17-21
A-1040 Vienna
Tel: +43 1 878 55 512
Fax: +43 1 878 55 505
Jochen.Zemroser@update.com
www.update.com