Accounting Problems At Accelr8 Technology Corp. Leads to Shareholder Class Action Berman, DeValerio & Pease, LLP.

Business Editors and Legal Writers

DENVER--(BUSINESS WIRE)--June 16, 2000

Berman, DeValerio & Pease LLP 

a law firm specializing in representing shareholders

in class action lawsuits, issues the following press release:

Accelr8 Technology Corporation ("Accelr8" or the "Company") (NASDAQ: ACLY) and certain of its executives are charged with violating the federal securities laws. Berman, DeValerio & Pease, LLP, www.bermanesq.com, has filed a civil action in the United States District Court for the District of Colorado on June 8, 2000 to recover money damages for Accelr8 investors. The class action is on behalf of all persons and entities who purchased the common stock of Accelr8 during the period of September 15, 1997 through and including November 16, 1999 (the "Class Period") and who suffered losses on their investments.

The complaint alleges that the defendants materially overstated the Company's revenue, improperly recognized revenue relating to licensing and maintenance fees, and failed to amortize capitalized software development costs. It also claims that the Company failed to disclose that Accelr8's Navig8 2000 software, created to fix the millennium bug (where computers may read the year 2000 as 1900 and malfunction), was in fact only available to a computer system manufactured by Digital Equipment Corp. ("DEC"), and was not available as a general Year 2000 remediation tool to the total universe of the programs that need Year 2000 solutions, contrary to the Company's repeated assertions during the Class Period.

When these accounting violations came to light, the Company's auditors, Deloitte & Touche LLP ("Deloitte & Touche"), informed the Company that their audit report, dated September 15, 1998, on the Company's financial statements for the years ended July 31, 1997 and 1998 should no longer be relied upon, and resigned as Accelr8's auditors. Trading in Accelr8's stock, which had traded as high as $27 during the Class Period, was halted at a last price of $1 5/16 on November 17, 1999.

If you purchased Accelr8 common stock during the Class Period and suffered a loss on your investment, you may wish to contact the lawyers at Berman, DeValerio & Pease LLP to discuss your rights and interests:

Patrick T. Egan, Esq.

Michael G. Lange, Esq.

Jeffrey C. Block, Esq.

Berman, DeValerio & Pease LLP

One Liberty Square, Boston, MA 02109

E-Mail: [e-mail]

[phone]

To learn more about this action, other cases or class actions in general, you can also visit their website at www.bermanesq.com.

If you wish to apply to be Lead Plaintiff in this action, a motion must be filed on your behalf with the court no later than June 11, 2000. To be a member of the class you need not take any action at this time and you may retain counsel of your own choice. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman, DeValerio & Pease LLP to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action.

With offices in Boston and San Francisco, Berman, DeValerio & Pease LLP has extensive experience prosecuting shareholder class actions. The firm has been appointed lead counsel in numerous actions involving companies that have issued false and misleading statements, has successfully litigated these actions, and has been singled out for its excellence by many courts. The firm prides itself on its responsiveness to shareholders and their needs in particular cases.