MONTREAL, Canada, April 28, 2004 – AD OPT Technologies Inc. (“AD OPT”) (TSX: AOP) a leading developer and vendor of advanced workforce management solutions, today announced first quarter 2004 financial results for the three-month period ended March 31, 2004.

Revenue for the first quarter was $5.4 million, an increase of 11% from $4.9 million in the first quarter of fiscal 2003. Net loss for the first quarter was $1.0 million, or $0.10 per share, compared to a net loss of $0.3 million, or $0.03 per share in the same period of the prior year. The year-over-year increase in net loss was primarily due to a $0.9 million one-time severance payment made to a departing officer of the Company. 

“Results for the first quarter are in-line with management’s expectations as they reflect traditional seasonality in certain of our vertical markets. We look forward to continuing our track record of profitable year-over-year growth in 2004,” said Mark E. Burton, President and CEO at AD OPT. “This year will be a pivotal time in AD OPT’s history, as we drive to accelerate our organic growth and acquisition initiatives.”

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter of 2004 was negative $1.1 million, compared to positive EBITDA of $0.1 million in the first quarter of fiscal 2003. The decrease in EBITDA was primarily due to the aforementioned one-time severance costs of $0.9 million and a $0.6 million negative impact on U.S. dollar denominated revenue due to the lower U.S./ Canadian dollar exchange rate in the first quarter of 2004 compared to same period in the prior year. 

Revenue backlog at March 31, 2004 was $19.6 million compared to $18.5 million at December 31, 2003. Revenue backlog provides a certain degree of revenue visibility for fiscal 2004.

AD OPT continues to maintain a solid financial base from which to execute its growth strategy. As at March 31, 2004, the Company had $22.7 million in cash and short-term securities, and no debt.

Corporate Highlights

On February 10, 2004, AD OPT announced the appointment of Mr. Mark E. Burton as President and CEO, effective February 24, 2004. Mr. Burton is an accomplished business leader with considerable experience involving technology companies. As former President and CEO of Digital Processing Systems Inc. (DPS), a TSX-listed manufacturer of computer hardware and software products, Mr. Burton led DPS to strong revenue growth and a substantial increase in profitability and was able to build significant shareholder value.

On January 14, 2004, AD OPT announced that its wholly-owned subsidiary, Total Care Technologies of Kelowna, British Columbia, licensed its ESP (Environment for Scheduling Personnel) and eXpert workforce scheduling software for approximately 2,000 personnel at Mount Sinai Hospital based in Toronto, Ontario.

Also during the quarter, select healthcare and manufacturing clients purchased 1150 additional software licenses. These expansions included: 700 Total Care healthcare licenses; 300 ShiftLogic licenses to a leading international automobile manufacturer; and 150 ShiftLogic licenses to an international food manufacturer for optimizing the allocation of the workforce at its new plant.

Dividend Declared

The Board of Directors of AD OPT Technologies Inc. today declared a quarterly dividend of $0.02. The dividend is payable May 25, 2004 to holders of common shares of record on May 11, 2004.

Subsequent Announcements

Subsequent to quarter-end, AD OPT announced that Cargolux Airlines International S.A. (“Cargolux”), based in Luxembourg, licensed the Altitude Pairing system to build cost-effective and efficient flight crew pairings. Cargolux is Europe’s largest all-cargo airline.  This contract represents AD OPT’s first sale in the airline cargo industry outside North America.   AD OPT has also previously sold Altitude scheduling products to FEDEX and UPS, demonstrating AD OPT’s significant presence in this market.

Also subsequent to quarter-end, AD OPT announced that a leading North American airline has selected Altitude DReAM (Daily Reserve Award Module) to manage their daily reserve awards. Developed in direct response to a strategic operations requirement identified by a client, Altitude DReAM is a daily reserve-planning module used in ‘Day of Operations’ to assign open flying time to reserve crews, while taking crew preferences into consideration.

Notice of Conference Call Webcast

AD OPT will be hosting a conference call to discuss the Company’s first quarter 2004 financial results on Wednesday April 28, 2004, at 8:30 a.m. EST. A live audio webcast of the call will be available at www.ad-opt.comand www.financialdisclosure.ca.  Webcast attendees are welcome to listen to the conference in real-time or on-demand at your convenience.

A replay of the call can also be heard by dialling 1-800-408-3053or 416-695-5800and entering the reference code 1526146. The taped call is available until May 5, 2004.

About AD OPT

AD OPT (TSX: AOP) is a leading provider of advanced workforce planning, scheduling and management solutions. AD OPT’s best-in-class applications enable organizations to quantify labour costs, enhance planning capabilities, and improve employee quality of life.  Headquartered in Montreal with offices in British Columbia, Canada and Queensland, Australia, the Company’s industry-specific solutions operate in more than 400 facilities worldwide. For more information, visit us at www.ad-opt.com.