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FOR IMMEDIATE RELEASE PANDA SOFTWARE INCREASES CHANNEL PARTNERS LIFEBOAT® DISTRIBUTION IS NEWEST U.S. DISTRIBUTOR GLENDALE, CA – February 11, 2004 - Panda Software, a manufacturer of premium antivirus solutions for the enterprise, business, SOHO and consumer markets, announced today that it has entered into an agreement with Lifeboat® Distribution Services, a leading distributor of software products and tools for technology professionals. As Panda’s newest distributor for the United States, Lifeboat Distribution partners with over 6,000 resellers worldwide and has an excellent reputation for its customer service and technical sales expertise. This deal is part of Panda Software's recent reorganization to focus on the U.S. channel in 2004 and beyond. Panda recently pledged to all Channel Partners to standardize all promotional programs in the channel and maintain strict adherence to their MSRP schedule, while offering solid margins to active resellers. In addition, Panda is offering generous co-op for those partners who prove successful at moving solutions to satisfied end-users. Under the terms of this agreement, Lifeboat will distribute all of Panda’s products through its powerful reseller channel and will also engage in strategic marketing and support initiatives. “Panda Software is very excited about establishing this new relationship with Lifeboat Distribution Services,” said Brian Cotter, VP of Channel Sales and Business Development at Panda Software US. "We couldn’t be more pleased to have this alliance as Lifeboat employs some of the most astute technical sales reps in the market, and their management culture is well- suited to our expansion strategy. The U.S. distribution channel is more competitive than ever, so we are equally honored to be the only antivirus vendor selling through Lifeboat. Clearly, our reseller partners and consequently our end-users will be well served through this alliance.” "We're delighted to be entering into this partnership with Panda Software," said Dan Jamieson, Vice President and General Manager at Lifeboat Distribution Services. "Panda Software delivers a solid product with automatic daily virus signature updates and continues to provide great value and protection for its users. Panda Software's solutions are superb additions to Lifeboat's product offerings of best-of-breed software development servers, tools and utilities.” ABOUT LIFEBOAT DISTRIBUTION: Lifeboat Distribution Services, a division of Programmer's Paradise, Inc. (NASDAQ: PROG), is an international wholesale provider of software development tools, utilities, and other technically related products to computer software resellers. The company provides pre-sale consultative advice, in-depth product information, licensing options, and marketing programs in support of its select group of technical software lines. Lifeboat Distribution Services supports thousands of solution providers, VARs, consultants, corporate resellers, and retailers worldwide. For additional information, visit www.lifeboatdistribution.com. ABOUT PANDA SOFTWARE: Panda Software (http://www.pandasoftware.com) is the first company to allow truly automatic daily signature updates, as well as centralized administration of antivirus protection, both of which have revolutionized the antivirus industry. Panda Software is known for its user-friendly policies, including free telephone support for corporate customers, expanded competitive renewal programs and free disinfection services. All of its products feature exclusive SmartCleanTM and TrueDailyTM technologies and are endorsed by major industry watchdogs including ICSA Labs and Checkmark. # # # Lifeboat and Programmer's Paradise are registered trademarks of Programmer's Paradise, Inc. All other company and product names mentioned may be trademarks of the respective companies with which they are associated. FOR MORE INFORMATION: Alan Wallace VP, Corporate Communications US Dan Jamieson Vice President, General Manager Lifeboat Distribution Services (732) 389-8950 x7209 [email protected]