SAN DIEGO, CALIFORNIA, February 28, 2001 - BakBone Software, Inc. (TSE: BKB; OTC: BKBOF), a global provider of storage management software, today announced that its board of directors has unanimously approved, and The Toronto Stock Exchange has conditionally approved, the extension of the outstanding Series B common share purchase warrants ("Warrants") of BakBone for a period of one year, from March 16, 2001 to March 16, 2002, provided that the expiry date shall be accelerated to 30 days immediately following the period in which the 10 day weighted average trading price of the Company's common shares exceeds CDN$20.00, with the Warrants automatically expiring at the end of such 30 day accelerated expiry period. The exercise price of the Warrants remains at CDN$15.00 per share.

Only Warrants held by arm's length parties to the Company will be extended. Warrants of insiders and related parties will not be extended.

Extension of the Warrants is conditional upon receipt of approval of the warrant holders. To this end, BakBone has mailed meeting materials to all warrant holders seeking their approval for the extension and is holding a special meeting of warrant holders on the morning of March 16, 2001 to vote to approve the extension.

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.

BakBone Software, the BakBone logo, and NetVault are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries. All other brands, products or service names are or may be trademarks or service marks of, and used to identify, products or services of their respective owners.