Private Placement Completed

October 14, 2003 (QHR – TSX-Venture) Mr. Al Hildebrandt, President and CEO of the Company, is pleased to advise that the private placement previously announced on August 26, 2003 in the amount of Cdn. $252,000 is successfully completed. The Private Placement is restricted from trading for a period of one year.

The investors included nine employees, seventeen close friends and business associates with the balance of the placement received from two directors of the Company.

The placement was oversubscribed and demonstrates the growing confidence in the products and business model of QHR by those closest to the Company. QHR is on track to achieve its objectives for the current fiscal year. Corporate value on behalf of the shareholders has grown dramatically in 2003, improving business opportunities and access to capital as a result.

QHR services more than forty-five client organizations with over 85,000 employees across North America. The primary design concept of Quadrant HR focuses on the effective administration of employee information in complex organizations such as healthcare facilities. The premise is that all HR data should be processed only once and then available to administrate all elements of HR, payroll and staff scheduling. Quadrant HR is designed to store, process and utilize accurate employee information, from a single HR database, especially in complex payroll, multi-position HR environments.

For a more complete corporate profile of the Company, management encourages interested parties to visit the Company’s website, www.QHRsoftware.com.

On behalf of the Board of Directors
Al Hildebrandt President & Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.