The Springer-Miller acquisition is expected to add more than $17 million to PAR's annualized revenue and be accretive to calendar 2005 earnings. The financial terms of the transaction were not disclosed. The closing of the transaction is subject to customary closing conditions and are expected in the fourth quarter of 2004.

Based in Stowe, VT, Springer-Miller Systems, Inc. is an established, leading provider of property management systems (PMS) solutions that meet the technology needs of all types of hospitality enterprises including city-center hotels, destination spa and golf properties, timeshare properties and casino resorts worldwide, setting the pace as a pioneer in the hospitality industry. Springer-Miller Systems' SMS|Host Hospitality Management System is distinguished from other property management systems with its truly integrated design and unique approach to guest service. The SMS|Host product suite, including more than 20 seamlessly integrated, guest-centric application modules, provides hotel/resort staff with the tools they need to personalize service, exceed guest expectations, and increase revenue. Springer-Miller also provides the Spa industry a leading management application that was specifically designed to support the unique needs of the resort spa and day spa markets, a rapidly growing hospitality market.

Springer-Miller has become the premier supplier to more than 500 luxury Hotels/Resorts and the rapidly growing Resort Spa market with customers such as the Bellagio Hotel & Casino, the Hard Rock Hotel & Casino, the Mirage Hotel & Casino, Treasure Island Hotel & Casino, the Pebble Beach Company, the Augusta National Golf Club, Aspen USA, Vail/Beaver Creek Ski Resort, Intrawest Corporation, Amelia Island Plantation, Delaware North Companies, Kohler Co.'s American Club, the NY Palace, the Mirror Lake Inn, the Boca Raton Resort and Club, the Breakers, Destination Hotels & Resorts, the Wynfrey Hotel, Mandarin Oriental Hotel Group and Aramark's Lake Powell Resort & Marina to name a select few.

Under the terms of the agreement, Springer-Miller Systems, Inc. will continue to be managed by its senior management team. SMS will operate as a subsidiary of ParTech, Inc., and will be backed up by PAR's products, worldwide infrastructure and resources.

"We are very pleased to announce this pending transaction, which will enhance PAR's expansion of its hospitality technology solutions market presence in resorts, hotels, casinos, golf courses and destination spas. This addition will also support PAR's strategy to continue to find new associated markets in which to grow the Company's revenue and profitability lines," said John W. Sammon, PAR's Chairman and CEO. "Springer-Miller Systems, Inc. brings with it an excellent reputation as a "provider of choice" within the resort and hotel industries. The company meets every one of our stringent qualifications for a potential acquisition. Springer-Miller has a track record of revenue growth and profitability. It has a growth-oriented management team that wants to stay and continue to build the company. It expands our physical footprint and brand in a marketplace that is rich with opportunities for growth. Most importantly, Springer-Miller Systems, Inc. shares PAR's commitment to building long-term client relationships, based on on-time delivery, and high quality standards."

ABOUT PAR TECHNOLOGY
PAR Technology Corporation, is a leading provider of professional services and enterprise business intelligence software. PAR develops, markets and supports hardware and software products that improve the ability of hospitality business professionals to make timely, fact-based business decisions. The Company is the world's largest supplier of Point-of-Sale systems to the quick service restaurant market with over 35,000 systems installed in over 95 countries. PAR has also been a leader in providing computer based system design and engineering services to the Department of Defense and Federal Government Agencies. PAR Technology Corporation's stock is traded on the New York Stock Exchange under the symbol PTC. 

Certain Company information in this release or by its spokespersons from time to time may contain forward-looking statements. Any statements in this document that do not describe historical facts are forward-looking statements.