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National Australia Bank Implements ON Technology Solution to Manage Mission-Critical Servers, Desktops and Laptops Across 20 Locations Globally

Corporate and Institutional Banking Division Leverages ON Technology Solution to Provide Reliability, Flexibility and Speed for Vital Currency Trading Applications

WALTHAM, MA (July 24, 2003) - ON Technology (NASDAQ:ONTC), a leading provider of enterprise infrastructure management solutions, today announced that the Corporate & Institutional Banking (CIB) division of National Australia Bank Limited has expanded its use of ON Technology's management solution throughout CIB's 20 global locations, including locations in Australia, London, and New York City. The bank recently placed a repeat order for add-on licenses of ON's management solution during ON Technology's second quarter.

National Australia Bank (the National), ranked as one of the world’s top 50 financial services companies by revenue according to Fortune Magazine, is using the ON Technology solution to manage all Windows clients and servers across CIB’s global operations. ON Technology worked with Australian-based reseller, MS Integration, to establish the ON Technology management infrastructure across CIB’s network environment worldwide.

CIB has achieved large-scale global deployment of Microsoft Windows® XP, with further deployment scheduled this year. Windows NT 4.0, 2000, and XP workstations, as well as Windows Terminal Servers (WTS), Web Servers and Application Servers, are all deployed by the ON Technology infrastructure. CIB looked to ON Technology’s product suite to provide a reliable solution with the robustness to support CIB’s growing needs. The ON solution was instrumental in CIB’s earlier move from UNIX to NT 4.0 and its recent migration to XP.

Paul Hopson, Head of Infrastructure, CIB, National Australia Bank said, “Using ON Technology’s management solution has allowed us to remotely manage all our laptops and desktops including critical dealing room (currency trading) applications. We chose the ON solution as it provides us with the reliability and flexibility that are paramount when dealing with such critical applications. The basic nature of the banking environment means that both reliability and speed is vital in achieving high levels of service. ON’s management suite allows us to manage our continually changing environment in a controlled and timely manner.”

Sam Hansen, Project Manager, MS Integration said, “We are delighted to announce the implementation of ON Technology’s advanced solution within the National. We want to introduce our clients to quality products that save both time and money. We are working across our locations to implement the ON solution as part of CIB’s standardization of systems.”

“ON Technology is working closely with our long-time partner, MS Integration, and with the National to ensure the bank has a robust and reliable solution to manage its currency trading applications,” said Phil Neray, Vice-President of Marketing, ON Technology. “Our open and scalable solution gives the National consistency and flexibility as it expands within international financial markets.”

About National Australia Bank Group
The National Australia Bank Group is an international financial services group, providing a comprehensive and integrated range of financial products and services. Globally, as at 30 September 2002, the National Australia Bank Group had total asset of A$377 billion and ranked as one of the world’s top 50 financial services companies by revenue as listed in the July 2002 edition of Fortune Magazine. Corporate & Institutional Banking is the global business unit within the National, responsible for managing relationships with large corporations, financial institutions, supranationals and government bodies. The key areas of activity for Corporate & Institutional Banking are Financial Institutions, Corporate Banking, Specialized Finance, Markets Division and Custodian Services.

About MS Integration
MS Integration has a wealth of experience with designing and implementing enterprise scale solutions for the management of the desktop services environment. The addition of ON Technology's suite of products to our portfolio has enabled us to deliver scalable solutions to the Server space as well as enabling seamless migrations to Windows environment. For more information, visit the MS Integration web site at www.ms-integration.com

About ON Technology Corporation
ON Technology empowers IT organizations and service providers to manage the full lifecycle of their computing systems over large-scale corporate networks. Our solutions are used to rapidly and reliably deploy critical applications, operating systems, and content to desktops, mobile PCs, handhelds, servers, retail point-of-sale (POS) terminals and banking workstations. Our customers leverage our solutions to significantly reduce IT costs, improve availability and reliability of business-critical applications, and enhance both IT and end-user productivity. ON’s management solution has been chosen by more than 1,000 enterprises worldwide to manage in excess of 1.2 million networked computer systems. For more information visit ON Technology’s Web site at www.on.com or call 800-767-6638.

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ON Technology, ON Command, and ON Command CCM are registered trademarks, and the ON logo and ON iCommand are trademarks of ON Technology Corporation. Microsoft and Windows are either registered trademarks or trademarks of Microsoft Corporation in the United States and other countries. All other brand names and trademarks are properties of their respective owners.

The statements in this press release that relate to ON Technology’s future plans, events and performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, including the current weakness in the global economy, demand for the Company’s products and services, performance of the Company’s direct and indirect distribution channels, competitive pressures, market acceptance of the Company’s new products and technologies, and the risk factors detailed from time to time in ON Technology’s periodic reports filed with the Securities and Exchange Commission, including without limitation the Company’s Quarterly Report on Form 10-Q for the third quarter of 2003 filed in November 2003. Actual results and performance may differ materially due to these and other factors. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. ON Technology undertakes no obligation to release publicly any updates or revisions to any forward-looking statements contained in this press release that may reflect events or circumstances occurring after the date of this press release.


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