Major Step in Growing European Business

San Francisco, CA, and Zurich, Switzerland -- December 12, 2001 - Advent Software, Inc. (Nasdaq: ADVS), announced today that it has acquired the independent distributors of Advent’s software, data and services in Denmark, Sweden and Norway, for approximately US $12 million. The purchase of Advent’s Scandinavian distributors culminates Advent’s two-year effort to help support the organizations while they developed and established themselves in their local markets. Advent has similar relationships with additional independent distributors in Switzerland, the United Kingdom, the Netherlands, and Greece. Collectively, the European business is known as Advent Europe.

"We are very excited about this next step in Advent’s evolution into European markets. The Scandinavian team has done a terrific job of introducing Advent solutions to the European marketplace, has demonstrated a strong ability to meet the specific demands of clients in their local market, and has built an attractively profitable business," said Irv Lichtenwald, Chief Financial Officer of Advent Software. Major Scandinavian clients include Jyske Bank in Denmark, Acta in Norway, and Skandinaviska Enskilda Banken AB in Sweden.

"Because of the strong product offering and continual support we have received from Advent Software since the beginning of our relationship, we’ve been able to fully concentrate our attention on building a successful business in Scandinavia," said Torbjørn Tenmann, Chief Executive Officer of Advent Europe. "Advent’s solutions are in demand in Europe and we look forward to further growing Advent’s European presence."

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