BindView Development Corporation Files Registration Statement for Initial Public Offering.

HOUSTON--(BUSINESS WIRE)--June 24, 1998--BindView Development Corporation ("BindView" or the "Company"; proposed NASDAQ/NMS:BVEW) announced yesterday that it filed a registration statement with the Securities Exchange Commission for an initial public offering of 3,750,000 shares of Common Stock.

The filing range of the offering is $9.00 to $11.00 per share. Of the shares being offered, 2,762,385 are being sold by the Company and 987,615 are being sold by certain stockholders of the Company. The offering will be managed by BancAmerica Robertson Stephens, BT Alex. Brown and Donaldson, Lufkin & Jenrette Securities Corporation.

BindView develops, markets and supports a suite of systems management software products that manage th e security and integrity of complex, distributed client/server networks operating on Microsoft Windows NT and Novell NetWare environments. The Company's primary product line, BindView EMS, provides software solutions for systems administration, security management,enterprise inventory of LAN assets and Year 2000 assessment of PC hardware and software. BindView EMS can be used by network administrators, security auditors and other IT personnel to proactively identify, diagnose and, in many cases, fix a wide range of systems management problems allowing organizations to reduce the Total Cost of Ownership of enterprise computing.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When available, copies of the preliminary prospectus relating to the offering may be obtained from BancAmerica Robertson Stephens, 555 California Street, Suite 2600, San Francisco, CA 94104, 415/781-9700; BT Alex. Brown, 1 South Street, Baltimore, MD 21202, 410/727-1700; or Donaldson, Lufkin & Jenrette Securities Corporation, 277 Park Avenue, New York, NY 10172, 212/892-3000.

The information contained herein is not a complete analysis of every material fact respecting any company, industry or security.

Although opinions and estimates expressed herein reflect the current judgment of the Firm, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when they are, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice.

This news release contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the "Investment Risks."

Bancamerica Robertson Stephens from time to time performs corporate finance services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein.

Facts and other information discussed have been obtained from sources considered reliable but are not guaranteed. Bancamerica Robertson Stephens, its managing directors, its affiliates and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this press release is in circulation.

    CONTACT: BindView Development Corporation
              Scott R. Plantowsky, 713/843-1799