Sand Technology Inc.

SAND Announces Year-End and Fourth Quarter Results - Annual Revenue up 128% Over Last Year

Montreal (ots) - SAND™ Technology Inc. (NASDAQ: SNDT) today reported revenues for the twelve months to July 31, 2003 of $31,682,536 up 128% from the same period last year and earnings of $0.74 per share compared to a loss last year of ($1.12) per share on sales of $13,922,077. For the quarter ended July 31, 2003, revenues amounted to $7,150,999 up 222% from sales of $2,221,891 in the fourth quarter of last year and earnings of $0.78 per share compared to a loss of ($0.48) for the same quarter last year. All figures are in Canadian dollars and include revenues and expenses from the ClarityBlue subsidiary before its disposal at the end of the fourth quarter. The recognized gain from the sale of ClarityBlue, which amounts to $11,757,280, takes into account the value of the net assets disposed as well as the related disposal costs. "Revenue growth related to software product sales was an important contributor to the growth for the year," notes Arthur Ritchie, President and Chief Executive Officer of SAND. "Setting aside the gain associated with the sale of ClarityBlue, operating results substantially improves on a year over year basis resulting in a reduction of our loss from operations by 88%. In addition the company consolidated our relationship with strategic solutions providers and added significant new reference customers over the year. This, in combination with the enhanced product functionality in a new 3.1 release of the SAND Analytic Server will have significant impact on our business going forward." Continued Ritchie, "We are cautiously optimistic that the market for enterprise software, which has been soft the last two years, is turning the corner and that organizations will look to information productivity vendors such as SAND to help them deliver new levels of efficiency and competitiveness in 2004 and beyond." A conference call hosted by Mr. Ritchie will be held on Monday, November 17, 2003 at 4:00 p.m. (eastern standard time) to discuss SAND's financial results. Investors and other interested parties may participate in the conference call by dialling (416) 695-9747. For those who cannot participate in the live call, a replay of the conference will be available at after 7:00 p.m. on the day of the conference and run for one month. Listening to the replay of the call requires Windows Media Player and appropriate hardware. About SAND Technology™ SAND Technology empowers organizations worldwide with a better understanding of their business through a better understanding of their business data. SAND Analytic Server-based solutions include CRM analytics, web analytics, and other specialized "Business Intelligence" applications for government and security, healthcare, customer relationship (CRM) analytics, supply chain management, inventory and production optimization, financial analysis, and strategic planning. SAND has offices in the United States, Canada, the United Kingdom and Central Europe, and is traded on NASDAQ under the symbol SNDT. For more information, visit All Rights Reserved. SAND Technology, Nucleus, Nucleus Server, N: VECTOR, Nucleus Exploration Warehouse, Nucleus Exploration Mart, Nucleus Exploration Data Warehouse, Nucleus Octopus, SAND Online and MPSO are registered trademarks of SAND Technology Inc. and Nucleus Virtual Database (VDB), Nucleus Powered! , Nucleus E!, Nucleus Adviser, SAND Analytic Server, SAND Analytic Warehouse, and Analytics @ the Speed of Business are trademarks of SAND Technology Inc. Other trademarks are the property of their respective owners. Certain statements contained in this press release are "forward- looking statements" within the meaning of the United States Private Securities Reform Act of 1995 and are intended to be subject to the safe harbour protection provided by this Act. Such forward-looking statements are based on reasonable assumptions and current expectations, but involve known and unknown risks and uncertainties. Some assumptions may not materialize and unanticipated events may occur which could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Competitive pressures, availability and cost competitiveness of competing products, timing of significant orders, management of potential growth, risks of new business areas, international expansion, decreased demand for computer software and services due to weakening economic conditions and market acceptance of the SAND Nucleus Product Suite are important factors which could cause actual results to differ materially from those projected. More information about factors that potentially could affect SAND's financial results is included in SAND's current Annual Report and in SAND's reports to the Securities and Exchange Commission. SAND TECHNOLOGY INC. Consolidated Statement of Operations For the Years Ended July 31, 2003 and 2002 IN CANADIAN DOLLARS FOR THE YEARS ENDED JULY 31 2003 2002 Net Sales $ 31,682,536 $ 13,922,077 Cost of Sales and Product Support $ (12,510,215) $ (6,473,974) Research and Development Costs $ (3,310,709) $ (4,887,581) Amortization of capital assets and acquired technology $ (1,076,825) $ (1,504,987) Selling, general and administrative expenses $ (16,581,789) $ (16,033,249) (Loss) from operations $ (1,797,002) $ (14,977,714) Other Income (including gain on sale of subsidiary) $ 11,772,219 $ 165,713 (Loss) before income tax $ 9,975,217 $ (14,812,001) Income taxes $ (182,136) - Net Income (Loss) earnings $ 9,793,081 $ (14,812,001) Earnings (Loss) per share $ 0.74 $ (1.12) Weighted average number of shares outstanding 13,189,124 13,186,194 ots Originaltext: Sand Technology Im Internet recherchierbar: Media: Robert Thompson Sand Technology +(1) 401/862-3538 Investor Relations: de Jong & Associates +(1) 760/943-9065

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