San Francisco, CA, September 20, 2001 - Advent Software, Inc. (Nasdaq: ADVS) announced that it will buy back shares of its common stock under a previously approved program authorized by its Board of Directors to repurchase, from time to time, up to 1 million shares in the open market.
"We believe that at the current price level Advent stock offers an exceptional investment opportunity for the company, and that such action is in the best interest of our shareholders," stated Irv Lichtenwald, Chief Financial Officer of Advent Software. "Advent's fundamentals and growth prospects are intact, and we are well positioned to continue as the leading provider of software, services and data to the investment management community."
Advent Software, Inc., the leading provider of Enterprise Investment Management solutions, offers stand-alone and client/server software products, data interfaces, and related services that automate and integrate mission-critical functions of investment management organizations. Advent Office, the industry's first and only Enterprise Investment Management solution, enables investment firms to build a truly client-centric organization. Advent Office is a suite of complementary products used to automate the entire range of investment management functions, including portfolio management, client relationship management, trade order management, datawarehousing, partnership accounting, reconciliation management, and web-based portfolio, performance and analytic reporting. Advent has licensed its products to more than 6,500 financial institutions in 45 countries for use by more than 60,000 concurrent users. The company's common stock is traded on the Nasdaq National Market under the symbol ADVS.
The forward looking statements included in this press release, which reflect management's best judgment based on factors currently known, involve risks and uncertainties. These risks and uncertainties include potential fluctuations in results and future growth rates, the successful development and market acceptance of new products and product enhancements, fluctuations in the financial markets, the consequences of the recent terrorist attacks, challenges assimilating acquired entities, and other risks detailed from time to time in the company's SEC reports, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Advent Software's Investor Relations Department at 415-645-1243 or Advent's Investor Relations website at http://www.advent.com/. Actual results may differ materially.
Irv H. Lichtenwald - CFO
Robin Goodstein – Inv Relations
Advent Software, Inc.
301 Brannan Street
San Francisco CA 94107