Quest Software Expects to Announce Second Quarter 2006 Revenues on August 8, 2006; Second Quarter Form 10-Q Filing to be Delayed

Business Wire, August 1, 2006

ALISO VIEJO, Calif. -- Quest Software, Inc. (Nasdaq:QSFT), a leading provider of application, database and infrastructure management solutions, expects to release its revenues for the second quarter of 2006 on Tuesday, August 8, 2006 at 1:00 p.m. Pacific Time, followed by a conference call at 2:00 p.m. Pacific Time.

Quest's second quarter 2006 conference call can be accessed via live Web cast through the "Investors" section of the company's Web site: www.quest.com. A Web cast replay will be available on the same Web site through August 8, 2007. An audio replay of the call will also be available through August 22, 2006 by dialing 888-203-1112 (from the U.S. or Canada) or 719-457-0820 (outside the U.S. and Canada), using confirmation code: 3478521.

On July 5, 2006, Quest Software provided a preliminary report of the investigation into stock option grant practices and related accounting issues being conducted by a Special Committee of independent directors. The investigation has not been completed. Quest will be limiting the scope of its second quarter financial information to be released on August 8, 2006 to revenue and related information, and will not be in a position to announce any additional or more detailed financial results for the second quarter until the Special Committee has completed its investigation, appropriate accounting adjustments and restated financial statements have been finalized for the first quarter of 2006 and prior periods, and required amendments to its reports on Form 10-K and 10-Q for those periods have been filed with the Securities and Exchange Commission. Please refer to Quest's Current Report on Form 8-K filed with the SEC on July 5, 2006 for further information about the stock option investigation and the company's intention to restate its financial statements.

Due to the pending Special Committee investigation and restatements, Quest Software will not be able to file its Quarterly Report on Form 10-Q for the period ended June 30, 2006 with the SEC on or before August 9, 2006, the due date for that report.

While Quest Software can not currently predict the ultimate timing of completion of the investigation and related restatement, Quest Software intends to file its Quarterly Report on Form 10-Q for the period ended June 30, 2006 as soon as practicable after the Special Committee's investigation is concluded and all required amendments to prior period reports have been filed with the SEC.

About Quest Software, Inc.

Quest Software, Inc. delivers innovative products that help organizations get more performance and productivity from their applications, databases and Windows infrastructure. Through a deep expertise in IT operations and a continued focus on what works best, Quest helps more than 18,000 customers worldwide meet higher expectations for enterprise IT. Quest Software can be found in offices around the globe and at www.quest.com.

Quest and Quest Software are registered trademarks of Quest Software, Inc. The Quest Software logo and all other Quest Software product or service names and slogans are registered trademarks or trademarks of Quest Software, Inc. All other trademarks and registered trademarks are property of their respective owners.

Forward-Looking Statements

This release includes forward-looking statements concerning the investigation of Quest Software's historical option practices and related accounting issues being conducted by the Special Committee of independent directors and the timing of the related restatement of prior period financial statements and of the filing of Quest Software's current period SEC reports. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, and there can be no assurance concerning the outcome of the Special Committee's investigation. Important factors that could cause actual results to differ materially include: the final conclusions of the Special Committee concerning matters relating to stock option grants and related accounting including, but not limited to, the accuracy of the measurement dates of option grants and the impact of any restatement of financial statements of the company or other actions that may be taken or required as a result of the investigation, the consequences of our inability to file required reports with the SEC on a timely basis and to satisfy the requirements for continued listing of Quest Software shares on the Nasdaq Global Select Market. Forward-looking statements in this press release also involve risks discussed in Quest Software's Annual Report on Form 10-K for the year ended December 31, 2005, subsequent Quarterly Reports on Form 10-Q and recent Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. We undertake no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.