MONROVIA, CA. (June 21, 2001) - ParaSoft, leading provider of error-prevention and error-detection software tools, proudly announced today that CEO Dr. Adam Kolawa received the 2001 Los Angeles Ernst & Young Entrepreneur Of The Year (EOY) award in the software category. Award recipients were honored at a banquet held on June 19 at the Beverly Hilton Hotel. The EOY award recognizes business leaders who have demonstrated outstanding success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.

As ParaSoft Chairman and CEO, Dr. Kolawa’s vision for the company has always been to cultivate an environment in which employees are free to be creative and innovative. Kolawa attests much of his success to the company’s ability to foresee market trends and stay ahead of the curve by providing products that anticipate customer needs.

"I am very honored to receive the Entrepreneur Of The Year award," said Kolawa. "I share this with the great team of people I work with at ParaSoft. It is extremely rewarding to come to work every day with people who get equally as excited as I do when we break new ground with the development of a new product or technology."

Privately funded, ParaSoft is a software development company that provides uniquely innovative products and services that help companies' increase efficiency and reduce development related costs. ParaSoft customers span across industries, and include Fortune 500 companies such as Lockheed Martin, Hewlett-Packard, Goldman Sachs, Motorola and Intel. The company offers technically sophisticated tools to automate several programming practices that are often considered to be time-consuming, expensive and monotonous. While many technology companies face downward turns, ParaSoft has continued to remain profitable. In fact, ParaSoft has doubled in both employee and revenue size each of the past three years.

"The Entrepreneur Of The Year program honors Los Angeles’ most outstanding business leaders," said Kelly Tien, Ernst & Young Partner and Director of the EOY program in Los Angeles. "The vision, passion and determination these entrepreneurs demonstrate is an inspiration to us all."

Dr. Kolawa will join other regional winners to participate in Ernst & Young’s National Entrepreneur Of The Year program. Finalists and winners of the national award will be announced in Palm Springs on November 17, 2001.

About the Entrepreneur Of The Year Program
The Entrepreneur Of The Year program is founded and produced by professional services firm Ernst & Young. The program is co-sponsored nationally by USA Today, CNN, The Nasdaq Stock Market and the Kauffman Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation. Local sponsors include Bowne; Cap Gemini Ernst & Young; Capital Resources; Paul, Hastings, Janofsky & Walker; Riordan & McKinzie; Silicon Valley Bank; Scudder Kemper Investments; Strategic Coach; Wedbush Morgan Securities; Scherzer & Company and The Los Angeles Business Journal.

About ParaSoft
ParaSoft is a pioneer of software error prevention and error detection tools that help companies to improve productivity and profitability by helping them to eliminate flaws in software applications. The company’s patented technologies offer companies a competitive advantage by reducing costly and lengthy debugging practices. ParaSoft's headquarters is located at 2031 S. Myrtle Ave., Monrovia, CA 91016. Telephone (888) 305-0041. Fax (626) 305-3036. Email to: info@parasoft.com . URL: . info@parasoft.com. URL: