SAN DIEGO, CALIFORNIA - November 14, 2001 - BakBone Software™ Incorporated (TSE: BKB), a global provider of storage management software, today announced financial and operational results for the company's second quarter ended September 30, 2001.

BakBone reported consolidated revenues of US$2.3 million for the second quarter, an increase of 94 percent from consolidated revenues for the same period in the previous year. Consolidated revenues increased 41 percent over the company's first quarter ended June 30, 2001. Management cited the strength of the company's technology, the company's business model, and the continued growth of the storage market as leading contributors to the positive results.

As well, net loss for the second quarter was down 18 percent to US$4.1 million or US$0.09 per share, compared with a net loss of US$5.0 million or US$0.12 per share, for the preceding three-month period. The improvement is, in part, due to the restructuring that took place in the beginning of the quarter, including reduction in headcount to a level in line with industry norms as well as the implementation of company-wide cost savings goals. This improvement is a key indicator of the company's commitment to its shareholders.

"I am pleased to see that our plan is working," said Keith Rickard, BakBone's President and CEO. "While we continue to live within our means, and be mindful of the current economic situation, we are still experiencing solid growth. This last quarter, virtually all parts of our business grew, including a 70 percent quarter over quarter increase in North American NetVault sales and 77 percent overall revenue growth in Asia. As we continue on our path to profitability, I see no reason why we can't keep expenditures down, and continue to see solid revenue growth."

Rickard will discuss the quarterly results during an investors' conference call to be held Wednesday, November 14, 2001, at 4:30 p.m. Eastern Standard Time. Interested parties may participate in the call by dialing 1-800-240-5318, and requesting the "BakBone Quarterly Conference Call."

About BakBone Software, Inc.

BakBone Software™ (TSE: BKB) is an international storage management software company that develops and distributes high-performance software solutions to the network storage and open systems markets. BakBone's near-line archival and backup/restore software suites provide scalable data protection from the workgroup to the enterprise. Founded in 2000, BakBone Software's products are used by companies worldwide, and are distributed through a network of OEMs and solution providers.

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 (866) 484-2663, 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, without limitation, statements by BakBone Software regarding:

• Growth projections for the company, including revenues and net income; and
• 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;
• The effect of general economic, credit and capital market conditions on our business; and
• Our failure to compete or successfully operate planned expansion projects.

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) and/or those risk factors disclosed in the current report filed with the United States Securities and Exchange Commission which may be found at www.sec.gov/edgar.

All future written and oral forward-looking statements made by us or on our behalf are also subject to these factors. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

BakBone Software, the BakBone logo, are all trademarks or registered trademarks of BakBone Software, Inc., in the United States and/or in other countries.