SAN DIEGO, CALIFORNIA - November 5, 2002 - BakBone Software, a global provider of storage management software, announced today financial results for the second fiscal quarter ended September 30, 2002.

BakBone reported consolidated revenues of US$4.0 million for the second quarter, an increase of 76 percent over the same period in the previous fiscal year. Operating expenses for the second quarter were US$5.6 million, an increase of 7 percent from the same period last year, which includes a reversal of previously recognized stock-based compensation charges of US$70,000. Excluding the reversal of stock-based compensation charges, operating expenses for the second quarter totaled US$5.7 million, an increase of 9 percent from the same period last year. Net loss for the second quarter was US$2.0 million, or US$0.04 per share, compared to US$4.1 million, or US$0.11 per share, for the same period last year. Excluding the effects of goodwill amortization in the second quarter of fiscal 2002, net loss for the second quarter of fiscal 2002 was US$3.2 million, or US$0.08 per share.

"I am pleased to see our continued growth in all regions worldwide," said Keith Rickard, BakBone's President and CEO. "Our growth is coming from winning new licensing deals and gaining market share, an accomplishment that is not common in the current market. As we enter our third fiscal quarter, we are seeing strengthening pipelines and increased interest in our products throughout the market."

The company will discuss the quarterly results during an investors' conference call to be held Tuesday, November 5, 2002 at 4:30 p.m. Eastern Standard Time. Interested parties may participate in the call by dialing 800/218-0713 or 303/262-2175, and requesting the "BakBone Quarterly Conference Call."

About BakBone Software Inc.

BakBone Software 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 backup/restore and near-line archival 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 OTC Bulletin Board as well as on the Toronto Stock Exchange. 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.

Disclosure and Forward-Looking Statements

In addition to historical information, this press release includes forward-looking statements (including but not limited to express or implied statements concerning BakBone's anticipated revenue growth) that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to: competition in our target markets; potential capital needs; management of future growth and expansion; risk of third party claims of infringement; protection of proprietary information; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with operations in foreign countries.

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 at www.sedar.com and/or those risk factors disclosed in our most recent 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.

All brands, products or service names are or may be trademarks, registered trademarks or service marks of, and used to identify, products or services of their respective owners.