Navision Software a/s Maintains Substantial Growth.

Business Editors

VEDBAEK, Denmark--(BUSINESS WIRE)--Jan. 20, 2000

During the first six months of the fiscal year 1999/2000 (July 1, 1999 - December 31, 1999), Navision Software a/s experienced a substantial demand for its enterprise business solutions for mid-sized companies.

Revenues in the first six months were higher than our initial expectations. Navision Software expects revenues of approximately DKK 470 million for the first six months of its fiscal year. Income before tax is expected to be DKK 135-140 million.

As a result of the high activity level in the first six months, the capacity in the partner network is expected to be fully utilized in the coming months. Thus, our expectations for fiscal year end are not increased at this point in time.

The company maintains its previously communicated expectations for revenues and net income for the fiscal year 1999/2000. However, our expectations will be evaluated and announced in connection with the final semiannual statement on February 15, 2000.

Navision Software a/s

Navision Software a/s, a Danish company, develops and markets financial and business management software solutions (&uot;enterprise business solutions&uot;). The company is currently among the fastest growing providers of enterprise business solutions for the middle-market (companies with annual revenues ranging between USD 5 million and USD 250 million). Approximately 80% of Navision Software's solutions are sold internationally.