SAN DIEGO, CALIFORNIA - February 14, 2002 - BakBone Software™ (TSE: BKB), a global provider of storage management software, announced today financial and operational results for the company's third quarter ended December 31, 2001.

BakBone reported consolidated revenues of US$2.9 million for the third quarter, an increase of 86 percent from consolidated revenues for the same period in the prior fiscal year. Consolidated revenues increased 26 percent over the company's second quarter ended September 30, 2001. This repeated quarter over quarter growth represents a sustained revenue increase and is an indicator of increasing product acceptance worldwide.

Net loss for the third quarter was US$3.2 million or US$0.07 per share, a 51 percent improvement over a net loss of US$6.6 million or US$0.18 per share, for the same period in the prior fiscal year.

"We achieved many of our goals this quarter including completion of a round of financing that has made our cash position stronger,” said Keith Rickard, President and CEO. "We also continued to keep expenses under control, and in December achieved our first month in the history of the company of consolidated revenues in excess of US$1.0 million. As we continue to expand successfully into new regions throughout the world, while leveraging our existing partnerships, I believe we will see further solid revenue growth.”

Rickard will discuss the quarterly results during an investors' conference call to be held Thursday, February 14, 2002 at 4:30pm Eastern Standard Time. Interested parties may participate in the call by dialing 1-800-240-2134, 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 globally 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.

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