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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 www.sand.com 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 www.sand.com
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
Media: 
Robert Thompson 
Sand Technology  
pr@sand.com 
+(1) 401/862-3538
Investor Relations: 
de Jong & Associates  
sndt@dejong.org 
+(1) 760/943-9065

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