QAD Names Daniel Lender As Chief Financial Officer

Business Wire, July 15, 2003

Business Editors

CARPINTERIA, Calif.--(BUSINESS WIRE)--July 15, 2003

QAD Inc. (Nasdaq:QADI) today announced the promotion of Daniel Lender to the position of executive vice president and chief financial officer. Lender succeeds Kathleen Fisher, who is leaving the company to pursue an opportunity closer to her home and family in Northern California.

"Our board of directors and senior executive team unanimously selected Daniel, a long-standing QAD executive who has both in-depth knowledge of all facets of the company's operations and a deep and broad financial background," said Karl Lopker, chief executive officer of QAD. "Daniel is an extremely well-rounded and experienced executive within the QAD management team and will be taking over a strong financial organization. The board and I are confident that he will provide sound guidance and direction to support QAD's continued growth and development."

Lender, 36, has more than 14 years of financial and operations management experience. Most recently, he served as QAD's vice president of Global Sales Operations, responsible for worldwide sales operations, including maintenance renewals, pricing administration, order processing and sales support systems. Concurrently, Lender held the position of vice president of Latin America and was responsible for the region's business development, sales management and financial results. He joined QAD in 1998 as vice president and treasurer, overseeing the worldwide treasury function. In this position, Lender successfully led several key equity and debt financings and participated in merger and acquisition activities.

Lender came to QAD after a nine-year tenure with Republic National Bank of New York, last serving as vice president and treasurer of the bank's $5 billion Delaware subsidiary, where he managed treasury and information systems. Before that, he was a portfolio manager and investment analyst at the bank's New York headquarters.

Lender earned a master of business administration degree from the Wharton School of the University of Pennsylvania. He earned a bachelor of science degree in applied economics and business management from Cornell University and received the John Mariani Jr. Entrepreneurship Award. Lender's affiliations have included memberships in the Association for Financial Professionals, the National Association of Stock Plan Professionals, and the executive team of the Central Coast Venture Forum, where he served as chief financial officer.

About QAD

QAD enterprise applications leverage advances in Internet and enabling technologies to provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. Manufacturers of automotive, consumer products, electronics, food and beverage, industrial and medical products use QAD applications at approximately 5,200 licensed sites in more than 80 countries and in as many as 26 languages. For more information about QAD, telephone 805-684-6614, or visit the QAD Web site at: www.qad.com. To receive any of QAD's press releases via facsimile, contact 800-356-0747, or outside the U.S. contact 213-253-5647.

"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.

Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to, evolving demand for the company's software products and products that operate with the company's products; the company's ability to sustain strong licensing demand; the ability to sustain customer renewal rates at current levels; the publication of opinions by industry analysts about the company, its products and technology; the reliability of estimates of transaction and integration costs and benefits; difficulties relating to integration of a new business; the entry of new competitors and their technological advances; delays in localizing the company's products for new markets; delays in sales as a result of lengthy sales cycles; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; general economic conditions, exchange rate fluctuations and the global political environment. In addition, revenue and earnings in the enterprise resource planning (ERP), e-business and distributed order management software industries are subject to fluctuations. Software license revenue, in particular, is subject to variability with a significant proportion of revenue earned in the last month of each quarter. Given the high margins associated with license revenue, modest fluctuations can have a substantial impact on net income. Investors should not use any one quarter's results as a benchmark for future growth. For a more detailed description of the risk factors associated with the company and the industries in which it operates, please refer to the company's Annual Report on Form 10-K for the fiscal year ended January 31, 2003.