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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact:
David Bosserman Dianne Rabbitt
Best Software, Inc. Baron, McDonald & Wells
703-709-5200, ext. 3286 770-492-0373
e-mail: david_bosserman@bestsoftware.com e-mail: drabbitt@bmwpr.com
BEST SOFTWARE, INC. ANNOUNCES SHARE REPURCHASE PROGRAM FOR STOCK PLANS
RESTON, Va (December 1, 1997) -- Best Software, Inc. (Nasdaq: BEST), a leading
provider of asset, human resource and payroll management software for middle
market businesses, today announced that its Board of Directors has approved the
repurchase of up to an aggregate of 200,000 shares of its common stock to fund
the requirements of its stock plans. "We believe, that based on current market
prices, our stock is undervalued and that it is in the best interest of our
shareholders for us to acquire shares in the open market for our stock plan
needs rather than incur dilution", said Tim Davenport, President and CEO. The
Company may, from time to time, acquire shares in open market transactions at
prevailing market prices or in negotiated transactions off the market. None of
the proceeds of the Company's recently completed initial public offering will
be used to repurchase shares under this program.
ABOUT BEST SOFTWARE
Best Software, Inc., with offices in Reston, Va., St. Petersburg, Fla., and
Ontario, Canada, is a leading provider of asset, human resource and payroll
management software solutions for middle market businesses. Its cost-effective
solutions complement core accounting systems and are scaleable, supporting
Microsoft operating systems including Windows 95 and Windows NT.
For more information, contact Best Software, Inc. at 11413 Isaac Newton Square,
Reston, VA 22090, call 800/368-2405, or visit http://www.bestsoftware.com.
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