SAN DIEGO, CA, November 29, 2000 - BakBone Software, Inc. (TSE: BKB; OTC: BKBOF), a global provider of storage management software, today announced financial results for the company's second quarter ended September 30, 2000.

The company reported consolidated revenues of CDN$1.7 million for the second quarter. The net loss for the period was CDN$9.1 million, or CDN$0.26 per share. Included in the net loss is CDN$1.4 million of purchase accounting amortization. For the five-month period ended September 30, 2000, revenues were CDN$2.6 million, with a net loss of CDN$12.9 million, or CDN$0.40 per share. Included in the net loss is CDN$2.0 million of purchase accounting amortization. BakBone officials attributed the operating results to costs associated with building and implementing the company's global sales and support infrastructure. Those costs continued to be in line with the company's business plan.

BakBone Software executives will discuss the results during a conference call today at 4:30 p.m. EST, following the market close. Investors can access the call by dialing 888-882-2123.

The second quarter of BakBone's fiscal year was highlighted by the successful North American launch of its flagship NetVault™ storage management software. NetVault, developed with an emphasis on meeting the exploding data storage needs of companies of all sizes, has received numerous favorable reviews from technology news publications worldwide and industry analysts, who focused on its ease of use throughout the product lifecycle.

During the second quarter of its fiscal year, BakBone Software achieved:

• The signing of more than 30 major resellers for the company's North American Partner Channel program. The channel partners are a key component of BakBone's sales strategy.
• Partner training sessions, completed in 12 major cities across North America.
• The completion of new and expanded offices in the United Kingdom and Japan.
• Continued expansion among European and Asian sales channels.
• Significant work on new product revisions for BakBone's tape and optical storage management software, aimed at a major convergence between network-attached storage (NAS) and storage area networks (SANs). Those efforts have resulted in new versions of the company's NetVault and MagnaVault™ software.

"The work we've done lays the foundation for our long-term success. We anticipate solid growth in our revenues over the next several quarters as we announce further contract wins and strategic alliances that will have a positive impact on both our sales and our overall financial position," said BakBone Software Chief Executive Officer Tony Cerqueira.

About BakBone Software, Inc.

BakBone Software™ (TSE: BKB, OTC: BKBOF) is an international storage management software company that develops and globally distributes industry-leading storage management solutions to the open systems markets, providing data protection and management solutions scalable from workgroup to enterprise that will grow with a company's needs. BakBone's core products include nearline optical and archival, as well as tape backup and restore software for a full suite of storage management solutions to the corporate data center.

BakBone's corporate headquarters is located at 10145 Pacific Heights Boulevard, San Diego, California 92121. Its stock is listed on the Toronto Stock Exchange and is included on the TSE 300 Composite, S&P/TSE Canadian SmallCap and TSE 200 indices. For more information on BakBone products, call 858-450-9009, e-mail sales@bakbone.com, or access BakBone's web site at www.bakbone.com.

Safe Harbor

This news release contains forward-looking statements reflecting management's current forecast of certain aspects of the company's future. It is based on current information that we have assessed, but which by its nature is dynamic and subject to rapid and even abrupt changes. Forward-looking statements may include statements by BakBone Software regarding:

• Growth projections for the company, including revenues and net income.
• The projected rollout of upgraded versions of our products.

BakBone's actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with our business, including, but not limited to:

• Our dependence on projected purchases by our major customers.
• Our ability to establish and maintain contractual arrangements with storage-centric value-added resellers ("channel partners").
• Competition in all aspects of our business.
• Changes in product or service profit margins due to pricing changes driven by variations in customer demand, competition, or unforeseen factors.

Our forward-looking statements should be considered in the context of these and other risk factors disclosed in our most recent report filed with the Canadian Securities Administrators, which is available on the SEDAR disclosure system (www.sedar.com).