MENLO PARK, Calif., -- July 24, 1996 -- Versant Object Technology Corporation (NASDAQ: VSNT) announced that it has completed its initial public offering of 2,070,000 shares of its common stock at a price of $8.00 per share. Of the total, 1,897,635 shares were offered by the company and 172,365 were offered by selling stockholders. The company has also granted the underwriters an option to purchase up to an additional 310,500 of common stock to cover over-allotments, if any. Cowen & Company led the underwriting group with Volpe, Welty & Co. and SoundView Financial Group, Inc. serving as co-managers.

The company will receive approximately $14.1 million in net proceeds from the offering ($15.9 million if the underwriters' over-allotment option is exercised in full). The Company plans to use the net proceeds from the offering for general corporate purposes, including working capital.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus relating to the offering may be obtained from:

Cowen & Company
345 California Street, Suite 2600, San Francisco, CA 94014

Volpe, Welty & Co.
One Maritime Plaza, 11th Floor, San Francisco, CA 94111

SoundView Financial Group
22 Gatehouse Road, P.O. Box 110236, Stamford, CT 06911-0236

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