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SAN FRANCISCO, Jul 01, 2002 /PRNewsire-FirstCall via Comtex/ -- Advent
Software, Inc. (Nasdaq: ADVS) announces that it expects to generate revenues of
about $38 million to $39 million for the quarter ended June 30, 2002, down from
previous expectations of about $48 million.

"Although Advent has historically weathered the economic slowdowns that have
plagued other financial services and high technology firms, a confluence of
events in the last half of June resulted in our missing our total revenue
projections by around 19%," said Peter M. Caswell, President and Chief Executive
Officer of Advent Software.

"The unexpected delay in the closing of our TechFi acquisition has added
additional stress on the organization and management distraction during the
critical final two weeks of the quarter. Although we are confident in the demand
for Advent`s products and services, we ran out of runway to negotiate and close
everything forecasted by quarter end," added Caswell.

"We expect license revenue to come in around $12 million. This shortfall is
principally caused by our receiving news that several very large deals, which
were expected to close the last week of June, were being delayed," said Irv H.
Lichtenwald, Chief Financial Officer of Advent Software.

"Our maintenance and other recurring revenue will come in slightly under $22
million or about $1 million short of our previous expectations, while our
professional services revenue should come in fairly close to our previous
expectations of approximately $5 million," continued Lichtenwald.

"Advent has amazing people and products. Over the past 25 quarters, since going
public in November 1995, Advent has done a good job of managing our growth in a
measured fashion so as to not get ahead of ourselves. We seem to have taken on
too much during the second quarter and will work to get things back to our
historical track record immediately. As part of that effort I am pleased to
announce that our Chief Financial Officer, Irv H. Lichtenwald, has agreed to
indefinitely delay his retirement which was originally scheduled to commence in
August," concluded Caswell.

Separately, the company announced that its Board of Directors has authorized an
expansion of its existing common stock repurchase program by an additional 2
million shares.

The purchases may be made, from time to time, on the open market or in privately
negotiated transactions and will be funded from available working capital. The
number of shares to be purchased and the timing of the purchases will be based
on the level of cash balances, general business conditions and other factors,
including alternative investment opportunities.

As of March 31, 2002, Advent had approximately 34.7 million common shares
outstanding with cash balances in excess of $235 million.

Advent will hold a conference call at 5:00 p.m. Eastern Time today, July 1,
2002. The number to dial-in will be 800-473-6123 or 973-582-2706. If you are
unable to listen to the call at this time, a replay will be available through
July 8, 2002 by calling 973-341-3080, pass code 3367664.

Advent is scheduled to release its second quarter results of operations on
Tuesday, July 16, 2002 after the market closes.

[deathisnot_theend]

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