Ultimate Software to Present January 10th at Needham & Company's Ninth Annual Growth Conference.

WESTON, Fla. -- Ultimate Software (Nasdaq:ULTI), a leading provider of end-to-end strategic human resources, payroll, and talent management solutions, today announced that Scott Scherr, president, CEO and founder, and Mitchell Dauerman, executive vice president and CFO, are scheduled to present at Needham & Company's Ninth Annual Growth Conference at 1:30 pm Eastern time on Wednesday, January 10, 2007. The four-day event will be held January 9-12 at The New York Palace Hotel on Madison Avenue in New York City.

The presentation will include a discussion of Ultimate Software's recurring revenue business, as well as an overview of the company's history and overall financial results.

To schedule an appointment with Mr. Scherr and Mr. Dauerman or to obtain further details on Ultimate Software's participation at the conference, call [phone].

About Needham &Company

Needham & Company, LLC is a wholly owned subsidiary of The Needham Group, Inc. and a privately held, full-service investment bank with the mission of helping emerging growth companies achieve their potential. The firm is headquartered in New York City with offices in Boston, Menlo Park and San Francisco. In addition to investment banking, Needham's principal activities include institutional sales and trading, asset management and venture capital. To serve its institutional clients, Needham & Company, LLC produces comprehensive equity research on more than 375 companies in technology, health care, consumer and industrial growth. For more information, please see www.needhamco.com.

About Ultimate Software

A leading provider of end-to-end strategic human resources, payroll and talent management solutions, Ultimate Software markets its award-winning UltiPro products as licensed software and as on-demand services through Intersourcing. Employing more than 600 professionals who are focused on developing the highest quality products and services, Ultimate Software was positioned in the Leaders quadrant of Gartner, Inc.'s "Magic Quadrant for U.S. Midmarket Human Resource Management Systems, 2006" and as a Leader in Forrester Research Inc.'s 2006 U.S. Midmarket HR solutions Wave ranking. Ultimate Software was also named the 2005 Payroll Provider of the Year by the Human Resources Outsourcing Association and ranked #3 on the 2006 Top 25 Best Medium-Sized Companies to Work for in America list by the Great Place to Work Institute. Also in 2006, Ultimate Software won two customer service awards, one from American Business Awards as the Best Customer Service Organization and the other a first-place SSPA STAR Award from Service & Support Professionals Association. Ultimate Software customers represent diverse industries and include such organizations as The Container Store, Elizabeth Arden, The Florida Marlins Baseball Team, The New York Yankees Baseball Team, Nintendo of America, Ruth's Chris Steak House, and SkyWest Airlines. More information on Ultimate Software's products and services can be found at www.ultimatesoftware.com.

UltiPro and Intersourcing are registered trademarks of The Ultimate Software Group, Inc. All other trademarks referenced are the property of their respective owners.