Award Software in the Press

October 24, 1996

Award Software International Announces IPO

Mountain View, CA — Award Software International Inc. (NASDAQ: AWRD), a leading designer of System Management Software (SMS), announced today its initial public offering of 1,850,000 shares of common stock at $8.00 per share.

J.P. Morgan & Co. acted as lead manager for the offering, and Prudential Securities Incorporated and Needham & Company Inc. served as co-managers. The Company has granted the underwriters the option to purchase an additional 277,500 shares of common stock to cover over-allotments. Of the 1,850,000 shares, 1,250,000 shares are being offered by the company and 600,000 shares are being offered by selling shareholders.

Award Software designs, develops and markets system management software for the global computing market. System management software is one of the fundamental layers in personal computer (PC) architecture and provides an essential interface between a PC's operating system software and hardware. The Company's principal system management software products include a suite of Basic Input/Output System software (BIOS). Award Software's customers include designers and manufacturers of motherboards, PC systems and other microprocessor-based (or embedded) devices. The Company believes that its products and engineering services enable customers to rapidly develop new motherboard designs for state-of-the-art computer systems. The Company markets and licenses its products and services worldwide and has established itself as a leading provider of desktop system management software in Asia, which accounts for approximately 40% of worldwide desktop motherboard production.

Offers to sell or solicitations to buy Award Software International Inc. shares can only be made through the prospectus and only in those states in which the offer or solicitation would be lawful. Copies of the prospectus may be obtained from J.P. Morgan & Co., 60 Wall Street, New York, New York, 10260, 212-648-9922.

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Kevin Berry, CFO
Award Software International Inc.

Anna Yen
Jessica Mussallem
Stapleton Communications Inc.

Corporate Marketing

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Updated 25 March 97.