Press Release

QL2 Software to Voluntarily Restructure Debt Under Chapter 11

No interruption to business operations

SEATTLE — January 12, 2010 — QL2 Software, Inc., today announced that it is voluntarily restructuring its debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in Seattle. The company will continue all business operations during the restructuring without interruption. To supplement its cash availability if needed, the company is negotiating an agreement to secure post-filing a line of credit.

"During the past year, we have made significant progress internally to transition QL2 into an enterprise-class data access platform company that pursues innovation and effective ways of serving our customers," said Russ Aldrich, CEO of QL2. "This restructuring focuses on non-business related debt that arose out of admitted malfeasance by prior management, not on our operations. This step will take pressure off of our business and allow us to continue to build toward our vision of being the leading on-demand platform for product, price, and market data. We will continue to work with our customers and partners during and after this restructuring."

The company filed yesterday for court approval of various, customary first-day motions, including: maintaining employee payroll and health benefits and the fulfillment of certain pre-filing obligations. The company anticipates its first-day motions will be approved in the next few days.

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