Exhibit 99.1

John Stewart	Claire Rowberry
Progress Software Corporation	Lewis PR
(781) 280-4101	(617) 226-8841
jstewart@progress.com	progress@lewispr.com

PROGRESS SOFTWARE REPORTS SECOND QUARTER RESULTS

Enterprise Infrastructure Revenue up 29%, DataDirect Revenue Up 18%

June 19, 2007 — Progress Software Corporation (NASDAQ: PRGS), a provider of leading application infrastructure software to develop, deploy, integrate and manage business applications, today announced results for its second quarter ended May 31, 2007. Revenue for the quarter was $120 million, up 9 percent (5 percent at constant currency) from $110 million in the second quarter of fiscal 2006. Software license revenue increased 8 percent (4 percent at constant currency) to $44.6 million from $41.4 million in the same quarter last year.

On a generally accepted accounting principles (GAAP) basis, operating income increased 3 percent to $11.3 million from $11.0 million in the second quarter of fiscal 2006. Net income increased 9 percent to $8.4 million from $7.7 million in the same quarter last year. Diluted earnings per share increased 6 percent to 19 cents from 18 cents in the second quarter of fiscal 2006.

On a non-GAAP basis, operating income increased 20 percent to $25.3 million from $21.1 million in the same quarter last year. Non-GAAP net income increased 21 percent to $17.8 million from $14.7 million in the same quarter last year and non-GAAP diluted earnings per share increased 21 percent to 41 cents per share from 34 cents in the second quarter of fiscal 2006.

The GAAP and non-GAAP results in the second quarter of fiscal 2007 include an after-tax charge of $1.6 million (4 cents per share) resulting from a write-down associated with a portion of the implementation of a new ERP system. The non-GAAP results in the second quarter of fiscal 2007 exclude after-tax charges of $6.0 million for stock-based compensation (including cash payments to compensation committee members of the board of the directors for reimbursement of cancelled stock options as more fully described in the most recent proxy statement), $2.9 million for amortization of acquired intangibles and $0.5 million for professional services fees associated with the investigation and shareholder derivative lawsuits related to the company’s historical stock option grant practices. The non-GAAP results in the second quarter of fiscal 2006 exclude after-tax charges of $4.1 million for stock-based compensation, $2.7 million for amortization of acquired intangibles and $0.2 million for certain acquisition-related expenses.

The company’s cash and short-term investments at the end of the quarter totaled $271 million. The company purchased 10,000 shares at a cost of $0.3 million in the second quarter of fiscal 2007. The company’s existing repurchase authorization, under which approximately 9.3 million shares remain available for repurchase, expires on September 30, 2007.

With respect to the ERP implementation, the company currently plans to implement the necessary functionality by extending its existing Progress^® OpenEdge^® based applications, together with a new OpenEdge based financial system for which the implementation is proceeding as planned. The write-off was necessitated by the conclusion that it was not advisable to proceed further with the implementation of an application which was not based on OpenEdge.

“We achieved nine percent growth in revenue for the second quarter, with a 21 percent increase in non-GAAP earnings per share. All major divisions performed extremely well and the outlook for the balance of the fiscal year is solid,” stated Joseph Alsop, co-founder and chief executive officer of Progress Software. “We are pleased to see continuing signs of success as we pursue our strategy of achieving growth in our OpenEdge business while looking to our newer high-growth product lines to accelerate our growth as they become a larger portion of our license revenue.”

Quarterly Highlights

Progress Software and QAD Inc. jointly announced the expansion of their longstanding alliance to allow QAD to globally license and distribute a wider range of application infrastructure products from Progress Software, including Progress Sonic ESB^® (Enterprise Service Bus), Progress Actional^® for SOA management, the Progress EasyAsk^® Natural Language and Query product, and other best-in-class technologies. www.progress.com/QAD

Progress Software and Dow Jones & Company (NYSE: DJ) announced a global agreement to provide the Dow Jones Elementized News Feed via the Progress Apama Algorithmic Trading Platform. The agreement will allow financial institutions to instantly and continuously analyze, evaluate and respond to complex market events and news within the Progress Apama platform. www.progress.com/dowjones

DataDirect Technologies launched DataDirect XML Converters™, a new product which enables bi-directional programmatic access to virtually any non-xml file including EDI, flat files, and other legacy formats (www.progress.com/converters). The division also added new security features to its DataDirect Connect® line of ODBC, JDBC, ADO.NET data access products and released version 3.0 of the DataDirect XQuery® product, with full update capability.

Progress Software announced the availability of the Progress Actional 7.0 SOA management platform that comprises a trio of best-in-class products addressing the diversity of management needs in service-oriented architecture (SOA) environments. www.progress.com/actional7

Progress Software announced the availability of Progress Sonic ESB 7.5, the latest version of the worldwide best-selling enterprise service bus (ESB) that enables the integration and flexible re-use of business applications within a service-oriented architecture (SOA). www.progress.com/sonicesb75

Progress Software announced that, according to research from Nielsen//NetRatings, retailers using EasyAsk achieved the highest online conversion rates among all users of commercially available e-commerce search and navigation technologies during nine of the 12 months in 2006. www.progress.com/neilson

Significant New Customer and Partner Wins, New Technology Adoptions and Major Deployments

Significant new partners and customers adopting technology from Progress Software, or deploying solutions using Progress technology, include: Active Health Management, Alberta Motor Association, Allied World Assurance Company, Arbonne International, Assurant Solutions, ATB Financial, Baptist Health System, BIDS Holdings, Boston Communications Group, BSN Medical, Cablecom, Canadian Institute for Health Information, Canberra, Carrier Call, Cedars Sinai Health System, Challenger Financial Service, Chevron Pipe Line Company, Consorcio Ejecutivo De Administracion, Corbin Capital Partners, Corporation Service Company, Debenhams, DI-Nikko Engineering, Diamond Management & Technology Consultants, Drivesol Global Steering, E. Hoffmann-La Roche, EDB Teamco IT Drift, Eiffel Comercio Automotivo, Eircom, Endurance Reinsurance, Famastil Ferramentas, Fiberweb, First Data Deutschland, Georgia Farm Bureau Mutual Insurance, GetConnected, Griffin Wheel Company, Hama GmbH & Co., HanseNet Telekommunikation, InterNAP Network Services, Itavox Veiculos, ITSC, Juriscoop Progreso Solidari, Kansai Electric Power, Kyowa Wellness, Law School Admission Council, Localiza Rent-A-Car, Markwest, Melco PBL Gaming, Multilog, National Interstate Insurance, Nordisk Mobiltelefon Svergie, North Pacific Bank, OnResolve, Orrick, Herrington & Sutcliff, Pandurata Alimentos, Piedmont Natural Gas Company, Plymouth & South West Cooperative, Redman Equipment, Saison Information System, Saxo Bank, SimpleTech, Sistema Unico de Autofinanciamiento, SNA Chile, Sonnox, Spectra Energy, Staveley Communications,

Steag Ketek IT, Torex Retail Workforce Management Solutions, Travel Alberta Canada and Western Asset Management.

Significant existing partners and customers adopting technology from different Progress Software product lines, or making substantial additional deployments of Progress technology, include: AServint, Avicola La Guasima, British Broadcasting Corporation, Chocolates Garoto, Computers Unlimited, Coasul, Daimler Chrysler Bank, Damartex UK, Deutsche Telekom, GCZ Nederland, Generali France, Hastings Entertainment, Hemopa, HP AppIQ, IBM Ascential, Ingersoll-Rand, ISA, Marketworks, Maryland Transit Administration, Matrikon, McQuay International, Measurement Canada, Micros-Fidelio, Municipio de Merida Yucatan, Norfolk Southern, Olivenca, Pacific Motors Company, Pepsi Bottling Group, QBE Management, ReedHycalog, Rocom Networks, Sanofi-aventis DK, SG Automatisering, Smurfit Kappa South West, Sodexho, SoftBank, Stadtverwaltung Basel Stadt, State Street Bank & Trust Company, Stryker Trauma, Sveriges Televison, T-Systems Enterprise Services and Taiyo Yuden-Vista.

Business Outlook

The company is providing the following guidance for the fiscal year ending November 30, 2007:

— Revenue is expected to be in the range of $475 million to $485 million.

— GAAP diluted earnings per share are expected to be in the range of $1.06 to $1.09.

— On a non-GAAP basis, diluted earnings per share are expected to be in the range of $1.72 to $1.75.

— The non-GAAP projections exclude after-tax charges of approximately $16 million (36 cents per share) for stock-based compensation, approximately $11 million (24 cents per share) for amortization of acquired intangibles and an estimate of approximately $4 million (6 cents per share) for professional services fees associated with the investigation and shareholder derivative lawsuits related to the company’s historical stock option grant practices.

The company is providing the following guidance for the third fiscal quarter ending August 31, 2007:

— Revenue is expected to be in the range of $118 million to $120 million.

— GAAP diluted earnings per share are expected to be in the range of 27 cents to 29 cents.

— On a non-GAAP basis, diluted earnings per share are expected to be in the range of 42 cents to 44 cents.

— The non-GAAP projections exclude after-tax charges of approximately $3.2 million (7 cents per share) for stock-based compensation, approximately $3 million (7 cents per share) for amortization of acquired intangibles and approximately $0.3 million (1 cent per share) for professional services fees associated with the stock option accounting investigation and shareholder derivative lawsuits related to the company’s historical stock option grant practices.

Legal Notice Regarding Non-GAAP Financial Information

The company provides non-GAAP operating income, net income and earnings per share as additional information for investors. These measures are not in accordance with, or an alternative to, generally accepted accounting principles in the United States (GAAP). Such measures are intended to supplement GAAP and may be different from non-GAAP measures used by other companies. The company believes that the non-GAAP results described in this release are useful for an understanding of its ongoing operations and provide additional detail and an alternative method of assessing its operating results. Management of the company uses these non-GAAP results to compare the company’s performance to that of prior periods for analysis of trends and for budget and planning purposes. Compensation of the company’s management and its employees is based in part on the performance of the business based on these non-GAAP measures. A reconciliation of non-GAAP adjustments to the company’s GAAP financial results is included in the tables below.

Conference Call

Progress Software’s conference call to discuss its second quarter results will be Webcast live today at 9:00 a.m. Eastern Daylight Time on the company’s Web site, located at www.progress.com/investors. The call will also be Webcast live via Yahoo (www.yahoo.com), Motley Fool (www.fool.com), Streetevents (www.streetevents.com), TD Waterhouse (www.tdwaterhouse.com) and Fidelity.com (www.fidelity.com). An archived version of the conference call will be available for replay.

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) provides application infrastructure software for the development, deployment, integration and management of business applications. Our goal is to maximize the benefits of information technology while minimizing its complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Safe Harbor Statement

Except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including but not limited to the following: the receipt and shipment of new orders, the timely release of enhancements to the company’s products, the growth rates of certain market segments, the positioning of the company’s products in those market segments, variations in the demand for customer service and technical support, pricing pressures and the competitive environment in the software industry, business and consumer use of the Internet, and the company’s ability to penetrate international markets and manage its international operations; unanticipated consequences of the recent

restatement of the company’s financial statements; the risk that the NASDAQ Stock Market will de-list the company’s common stock; risks associated with the SEC’s formal investigation of the company’s option-grant practices; the risk that the company will face additional claims and proceedings in connection with those stock option grant practices, including additional shareholder litigation and additional proceedings by the other governmental agencies; and the financial impact of the foregoing, including potentially significant litigation defense costs and claims for indemnification and advancement of expenses by directors, officers and others. The company undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the company’s business, please refer to the company’s filings with the Securities and Exchange Commission.

Progress, Apama, DataDirect Connect, DataDirect XML Converters, DataDirect XQuery, EasyAsk, OpenEdge, Sonic ESB, and Progress OpenEdge are trademarks or registered trademarks of Progress Software Corporation or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks or service marks contained herein are the property of their respective owners.

Progress Software Corporation
GAAP Condensed Consolidated Statements of Income

	Three Months Ended
	May 31,		May 31,		Percent
(In thousands except per share data)	2007		2006		Change
Revenue:
Software licenses	$	44,555	$	41,357		8	%
Maintenance and services		75,087		68,229		10	%
Total revenue		119,642		109,586		9	%
Costs of revenue:
Cost of software licenses		1,880		1,817		3	%
Cost of maintenance and services		16,871		15,125		12	%
Amortization of purchased technology		2,493		1,993		25	%
Total costs of revenue		21,244		18,935		12	%
Gross profit		98,398		90,651		9	%
Operating expenses:
Sales and marketing		45,745		44,983		2	%
Product development		20,389		19,346		5	%
General and administrative		19,029		13,034		46	%
Amortization of other acquired intangibles		1,946		1,984		(2	)%
Acquisition-related expenses		—		297		(100	)%
Total operating expenses		87,109		79,644		9	%
Income from operations		11,289		11,007		3	%
Other income, net		1,621		518		213	%
Income before provision for income taxes		12,910		11,525		12	%
Provision for income taxes		4,519		3,807		19	%
Net income	$	8,391	$	7,718		9	%
Earnings per share:
Basic	$	0.20	$	0.19		5	%
Diluted	$	0.19	$	0.18		6	%
Weighted average shares outstanding:
Basic		41,178		41,062		0	%
Diluted		43,636		43,473		0	%

	Six Months Ended
	May 31,		May 31,		Percent
	2007		2006		Change
Revenue:
Software licenses	$	89,284	$	84,137		6	%
Maintenance and services		145,587		129,370		13	%
Total revenue		234,871		213,507		10	%
Costs of revenue:
Cost of software licenses		3,552		4,027		(12	)%
Cost of maintenance and services		33,133		29,356		13	%
Amortization of purchased technology		4,984		3,517		42	%
Total costs of revenue		41,669		36,900		13	%
Gross profit		193,202		176,607		9	%
Operating expenses:
Sales and marketing		90,390		87,627		3	%
Product development		41,184		38,273		8	%
General and administrative		34,060		26,232		30	%
Amortization of other acquired intangibles		3,926		3,367		17	%
Acquisition-related expenses		—		1,831		(100	)%
Total operating expenses		169,560		157,330		8	%
Income from operations		23,642		19,277		23	%
Other income, net		2,711		1,215		123	%
Income before provision for income taxes		26,353		20,492		29	%
Provision for income taxes		9,224		6,865		34	%
Net income	$	17,129	$	13,627		26	%
Earnings per share:
Basic	$	0.42	$	0.33		27	%
Diluted	$	0.39	$	0.31		26	%
Weighted average shares outstanding:
Basic		41,123		40,781		1	%
Diluted		43,537		43,265		1	%

Progress Software Corporation
Reconciliation of GAAP to Non-GAAP Financial Measures

	Three Months Ended May 31, 2007								Three Months Ended May 31, 2006
	As								As								Percent
(In thousands except per share data)	Reported			Adjustments		Non-GAAP			Reported			Adjustments		Non-GAAP			Change
Total revenue	$	119,642			—	$	119,642		$	109,586			—	$	109,586			9	%
Income from operations	$	11,289		$	14,008	$	25,297		$	11,007		$	10,098	$	21,105			20	%
Amortization of acquired intangibles		(4,439	)		4,439		—			(3,977	)		3,977		—
Acquisition-related expenses		—			—		—			(297	)		297		—
Stock option investigation (1)		(755	)		755		—			—			—		—
Stock-based compensation (2)		(8,814	)		8,814		—			(5,824	)		5,824		—
Operating margin percentage		9.4	%				21.1	%		10.0	%				19.3	%		10	%
Effect on provision for income taxes from above adjustments (3)	$	4,519		$	4,633	$	9,152		$	3,807		$	3,105	$	6,912			32	%
Net income	$	8,391		$	9,375	$	17,766		$	7,718		$	6,993	$	14,711			21	%
Earnings per share — diluted	$	0.19				$	0.41		$	0.18				$	0.34			21	%
Weighted average shares outstanding — diluted		43,636					43,636			43,473					43,473			0	%

	Six Months Ended May 31, 2007								Six Months Ended May 31, 2006
	As								As								Percent
	Reported			Adjustments		Non-GAAP			Reported			Adjustments		Non-GAAP			Change
Total revenue	$	234,871			—	$	234,871		$	213,507			—	$	213,507			10	%
Income from operations	$	23,642		$	25,176	$	48,818		$	19,277		$	20,481	$	39,758			23	%
Amortization of acquired intangibles		(8,910	)		8,910		—			(6,884	)		6,884		—
Acquisition-related expenses		—			—		—			(1,831	)		1,831		—
Stock option investigation (1)		(2,437	)		2,437		—			—			—		—
Stock-based compensation (2)		(13,829	)		13,829		—			(11,766	)		11,766		—
Operating margin percentage		10.1	%				20.8	%		9.0	%				18.6	%		12	%
Effect on provision for income taxes from above adjustments (3)	$	9,224		$	8,296	$	17,520		$	6,865		$	6,452	$	13,317			32	%
Net income	$	17,129		$	16,880	$	34,009		$	13,627		$	14,029	$	27,656			23	%
Earnings per share — diluted	$	0.39				$	0.78		$	0.31				$	0.64			22	%
Weighted average shares outstanding — diluted		43,537					43,537			43,265					43,265			1	%

(1)	Stock option investigation expenses are included within general and administrative expenses and primarily represent professional services fees associated with the Company’s the investigation and shareholder derivative lawsuits related to its historical stock option grant practices.
(2)	Stock-based compensation expense is included in the following GAAP operating expenses:

	Three Months Ended May 31, 2007							Three Months Ended May 31, 2006
	GAAP		Adjustments			Non-GAAP		GAAP		Adjustments			Non-GAAP
Cost of software licenses	$	43	$	(43	)	$	—		37	$	(37	)	$	—
Cost of maintenance and services		511		(511	)		—		427		(427	)		—
Sales and marketing		2,678		(2,678	)		—		2,160		(2,160	)		—
Product development		1,715		(1,715	)		—		1,335		(1,335	)		—
General and administrative		3,867		(3,867	)		—		1,865		(1,865	)		—
	$	8,814	$	(8,814	)	$	—	$	5,824	$	(5,824	)	$	—

	Six Months Ended May 31, 2007							Six Months Ended May 31, 2006
	GAAP		Adjustments			Non-GAAP		GAAP		Adjustments			Non-GAAP
Cost of software licenses	$	74	$	(74	)	$	—	$	77	$	(77	)	$	—
Cost of maintenance and services		868		(868	)		—		877		(877	)		—
Sales and marketing		4,525		(4,525	)		—		4,384		(4,384	)		—
Product development		2,867		(2,867	)		—		2,689		(2,689	)		—
General and administrative		5,496		(5,496	)		—		3,739		(3,739	)		—
	$	13,830	$	(13,830	)	$	—	$	11,766	$	(11,766	)	$	—

Amounts represent the fair value of equity awards under SFAS 123R. Stock-base compensation expense in the three and six months ended May 31, 2007 also includes the cash settlement of equity awards to former employees for options that were cancelled or expired during the suspension of the issuance of shares under the company’s option plans, reimbursements for excise taxes resulting from the exercise of below market options in fiscal 2007 and make-whole cash payments to members of the Compensation Committee for options that were cancelled.

(3)

The provision for taxes was calculated reflecting an effective rate of 34% for the three and six months ended May 31, 2007 and an effective rate of 33% and 34% for the three and six months ended May 31, 2006, respectively.

Progress Software Corporation
Condensed Consolidated Balance Sheets

	May 31,		November 30,
(In thousands)	2007		2006
Assets
Cash and short-term investments	$	270,777	$	241,315
Accounts receivable, net		84,415		82,762
Other current assets		39,887		36,062
Total current assets		395,079		360,139
Property and equipment, net		60,239		57,585
Goodwill and intangible assets, net		223,862		232,927
Other assets		18,565		19,588
Total	$	697,745	$	670,239
Liabilities and shareholders’ equity
Accounts payable and other current liabilities	$	79,597	$	93,195
Short-term deferred revenue		133,237		120,974
Total current liabilities		212,834		214,169
Long-term deferred revenue		8,565		6,355
Other liabilities		5,222		5,151
Shareholders’ equity:
Common stock and additional paid-in capital		213,631		197,748
Retained earnings		257,493		246,816
Total shareholders’ equity		471,124		444,564
Total	$	697,745	$	670,239

Condensed Consolidated Statements of Cash Flows

	Six Months Ended May 31,
(In thousands except per share data)	2007			2006
Cash flows from operations:
Net income	$	17,129		$	13,627
Depreciation, amortization and other noncash items		28,128			23,951
Other changes in operating assets and liabilities		(5,919	)		(4,992	)
Net cash flows from operations		39,338			32,586
Capital expenditures		(9,622	)		(9,161	)
Acquisitions, net of cash acquired		—			(66,438	)
Share issuances (repurchases), net		(2,170	)		(2,520	)
Other		1,916			5,777
Net change in cash and short-term investments		29,462			(39,756	)
Cash and short-term investments, beginning of period		241,315			266,420
Cash and short-term investments, end of period	$	270,777		$	226,664