FOR IMMEDIATE RELEASE
For More Information, Contact:
Cheryl Slomann QAD Investor Relations 805 566 5139 investor@qad.com		Rob Whetstone PondelWilkinson MS&L 323 866 6060 investor@pondel.com

Carpinteria, Calif.—April 24, 2003—QAD Inc. (NASDAQ:QADI) today announced the final results of its "Modified Dutch Auction" tender offer, which was completed at 5:00 p.m., Eastern Time, on Monday, April 21, 2003. QAD commenced the tender offer to purchase up to 2.6 million shares of its common stock (subject to its rights under the securities laws to purchase additional shares representing up to 2% of its outstanding common stock) at a price between $4.75 per share and $5.25 per share, net to the seller in cash, without interest, on March 21, 2003.

Based on a final count by the depositary for the tender offer, QAD accepted for payment 2.6 million shares and exercised its right to accept for payment an additional 0.3 million shares for a total of approximately 2.9 million shares, representing approximately 8.5% of outstanding shares, at a purchase price of $5.00 per share. QAD anticipates the maximum aggregate cost, including fees and expenses associated with the tender offer, to be approximately $15 million. Payment for the shares accepted for purchase, and return of shares not accepted for purchase, will be made promptly by the depositary. The company is financing the purchase of its securities in the tender offer from available cash.

As a result of completing the tender offer, QAD has approximately 31.6 million shares of common stock outstanding.

The dealer manager for the tender offer was SG Cowen Securities Corporation. The information agent was Morrow & Co., Inc.

QAD delivers value through collaborative commerce for manufacturers, empowering enterprises to integrate diverse business processes and increase profitability. By enabling global manufacturers to efficiently manage resources within and beyond the enterprise, QAD solutions can improve customer delivery performance and reduce inventory costs. Manufacturers of automotive, consumer products, electronics, food and beverage, industrial and medical products use QAD applications at approximately 5,200 licensed sites in more than 80 countries and in as many as 26 languages. For more information about QAD, telephone +1 805 684 6614, or visit the QAD Web site at: www.qad.com. To receive any of QAD's press releases via facsimile, contact +1 800 356 0747, or outside the U.S. contact +1 213 253 5647.

"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.