DGAP-Adhoc: update software AG: resignation of five Supervisory Board members

| Source: EQS Group AG
update software AG  / Key word(s): Change of Personnel

28.07.2014 16:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Vienna/Frankfurt, 28 July 2014 +++ Five of the six members of update
software AG's Supervisory Board have each resigned from their position as a
member of the Supervisory Board with effect from the beginning of the next
Extraordinary Shareholders Meeting.

These resignations are related to the current takeover offer of Aurea
Software FZ-LLC to the shareholders of update software AG. The following
members of the Supervisory Board informed the Company in writing today that
they will each resign from their post as a member of the Supervisory Board
of update software AG with effect before the beginning of the next
Extraordinary Shareholders Meeting: Gerhard Auer, Josef Blazicek, Helmut
Fink, Richard Roy, Hans Strack-Zimmermann (Vice-Chairman of the Supervisory

All of the resignations were declared on condition that, at the time when
the resignations take effect, Aurea Software FZ-LLC will hold 50.1% of the
shares and voting rights in the Company.

In case of resignations within the Supervisory Board, the Articles of
Association of update software AG require that the vacancies be filled
immediately. The Company will, therefore, convene an Extraordinary
Shareholders Meeting for that purpose shortly.


Information and Explaination of the Issuer to this News:

Investor Relations Contact: 
Christina Buchegger
update software AG
Operngasse 17-21
1040 Vienna, Austria 
Phone: +43 1 878 55 157
Fax: +43 1 878 55 206

28.07.2014 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      update software AG
              Operngasse 17 - 21
              1040 Wien
Phone:        +43 1 878 55-0
Fax:          +43 1 878 55-200
E-mail:       investor.relations@update.com
Internet:     www.update.com
ISIN:         AT0000747555
WKN:          934523
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
End of Announcement                             DGAP News-Service