---

Exhibit 99.1

CONTACT:

Borland Software Corporaiton

Aaron Feigin, 408-863-2409

aaron.feigin@borland.com

OR

The Blueshirt Group for Borland

Erica Abrams, 415-217-7722

erica@blueshirtgroup.com
Borland Reports Strong Financial Results for Second Quarter 2004Company Achieves $76.5 Million in Revenue, GAAP Earnings of $0.03 per share and Non-GAAP Earnings
of $0.08 per share

SCOTTS VALLEY, Calif.--July 22, 2004--Borland Software Corporation (Nasdaq:BORL) today announced financial results for its second quarter
of 2004.

Revenues for the second quarter of 2004 were $76.5 million, and GAAP net income for the second quarter of 2004 was $2.8 million, or $0.03 per
diluted share. This compares to revenues of $72.9 million and GAAP net income of $713,000, or $0.01 per diluted share, reported in the prior quarter
and revenues of $76.3 million and a GAAP net loss of $5.0 million, or $(0.06) per diluted share, reported in the second quarter of 2003.

Non-GAAP net income for the second quarter of 2004 was $6.5 million, or $0.08 per diluted share, which compares to Non-GAAP net income of $4.8 million,
or $0.06 per diluted share, reported in the prior quarter, and Non-GAAP net income of $3.5 million, or $0.04 per diluted share, reported in the
second quarter of 2003.

Borland generated $12.8 million in cash flow from operations and closed the second quarter of 2004 with $213.5 million in cash, cash equivalents and
short-term investments.

"While we are pleased to report strong financial performance and execution across our business in the quarter, we believe there is still much
opportunity for improvement," said Borland's president and chief executive officer, Dale L. Fuller.  "I'm proud of our continued success at converting
design wins into major, multi-product ALM engagements.  The British Telecommunications relationship announced today is a good example of our success at
strategically aligning with our customers, enabling them to capture new opportunities faster.  Our ALM strategy is playing out in many of the ways we had
envisioned and we are excited about the opportunities ahead."

"We achieved solid operating income and cash flow in the quarter as a result of our relentless focus on managing costs and increasing leverage in our
sales model," said Borland's senior vice president and chief financial officer, Kenneth R. Hahn.  "We have taken the right steps to improve our operating
model and will continue to balance those improvements with opportunities to increase revenue.  We believe our sales strategies and broader product suites
are starting to take hold in the market and we remain confident in the long-term prospects for our business."

In calculating Non-GAAP net income, Borland utilizes a financial measure of net income (loss) that excludes restructuring, amortization of intangible
assets, acquisition-related expenses, in-process research and development and the related tax effect ("Non-GAAP Net Income").  Investors are encouraged
to review the reconciliation of Non-GAAP financial measures to the most directly comparable GAAP measures as provided below.

Business Outlook

Management provided the following financial guidance:

For the quarter ending September 30, 2004, on a GAAP basis:

- The company expects revenues will be in the range of $75 - $78 million.
- Forecast earnings per share should be in the range of $0.00 to $0.02

For the quarter ending September 30, 2004, on a non-GAAP basis:

- Forecast earnings per share should be in the range of $0.05 to $0.07.

The following table shows our Non-GAAP anticipated results for the quarter ending September 30, 2004 reconciled to the GAAP anticipated results.
Our Non-GAAP anticipated results exclude amortization of intangible assets and acquisition-related expenses.



|                                                                                 | Estimated per Share  
|-------------------------------------------------------------------------------- | ---------------------
|                                                                                 |                      
|                                                                                 | Low                  
|                                                                                 |                      
|                                                                                 | (unaudited)          
|                                                                                 |                      
|GAAP net income                                                                  | $                0.00
|                                                                                 |                      
|Aggregate amortization of intangible assets and acquisition-related expenses (1) | 0.05                 
|                                                                                 |                      
|                                                                                 |                      
|Non-GAAP net income                                                              | $                0.05
|                                                                                 |                      
|                                                                                 |                      
|                                                                                 |                      



(1) Includes $0.04 for amortization of intangible assets and $0.01 for acquisition-related expenses.



Earnings Conference Call Information

Borland Software Corporation second quarter 2004 teleconference and simultaneous Webcast is scheduled to begin at 2:30 p.m. PT, on
Thursday, July 22, 2004.  To access the live Webcast, please visit http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BORL&script=2100
or the main page of the investor relations section of Borland's web site at least
30 minutes prior to the scheduled time to download any necessary audio or plug-in software.  A replay will be available approximately two hours after the
conference call ends and will be available through midnight August 5, 2004.  The replay number is (800) 405-2236 or (303) 590-3000, with passcode 11002376.  Separately, the archived Webcast will be available on our website.

Non-GAAP Financial Measures

Borland provides all information required in accordance with generally accepted accounting principles (GAAP), but it believes that evaluating its
ongoing operating results may be difficult to understand if limited to reviewing only GAAP financial measures. Internally, Borland uses calculations of
Non-GAAP net income and net income per share, each of which excludes restructuring, amortization of intangible assets, acquisition-related expenses,
in-process research and development, and the related tax effect, to evaluate its ongoing operations and to allocate resources within the organization.

Borland's management does not itself, nor does it suggest that investors should, consider such Non-GAAP financial measures in isolation from, or as a
substitute for, financial information prepared in accordance with GAAP. Borland presents such Non-GAAP financial measures in reporting its financial
results to provide investors with an additional tool to evaluate Borland's operating results in a manner that focuses on what management believes to be
Borland's ongoing business operations. Management believes that the inclusion of this Non-GAAP net income calculation provides consistency and
comparability with past reports of financial results and historically provided comparability to similar companies in Borland's industry. Investors
should note, however, that the Non-GAAP financial measures used by Borland may not be the same Non-GAAP financial measures as, and may not be calculated
in the same manner as, that of other companies. Borland's management believes it is useful for the company and investors to review both GAAP information
that includes the expenses, charges, gains, and losses mentioned below and the Non-GAAP measures of net income and net income per share that exclude such
charges to have a better understanding of the overall performance of Borland's business and its ability to perform in subsequent periods. Whenever Borland
uses such a Non-GAAP financial measure, it provides a reconciliation of Non-GAAP financial measures to the most closely applicable GAAP financial measure.
Investors are encouraged to review the related GAAP financial measures and the reconciliation of these Non-GAAP financial measures to their most directly
comparable GAAP financial measure.

Borland excludes restructuring charges, including (i) employee severance and other termination benefits, (ii) lease termination costs and other expenses
associated with exiting a facility, and (iii) other costs associated with terminating contracts, from its Non-GAAP net income and net income per share
calculations. Expenses related to restructuring have, in some cases, had a significant cash impact and effect on net income as measured in accordance with
GAAP. However, Borland's management believes such restructuring charges are periodic costs incurred to realign its operating expenses with its anticipated
future revenues and, consequently, does not consider these restructuring costs as a normal component of its expenses related to ongoing operations. As a
result, Borland's management believes it is useful for itself and investors to review both GAAP information that includes such charges and Non-GAAP measures
of net income that exclude these charges to have a better understanding of the overall performance of Borland's ongoing business operations and its
performance in the periods presented.

In accordance with GAAP, Borland regularly amortizes the remaining value of certain intangible assets over various periods. However, these amortization
expenses result in no ongoing cash expenditures and otherwise have no material impact on Borland's ongoing business operations. Similarly, from time to
time, Borland undertakes strategic acquisitions and investments. The expenses related to such acquisitions and investments may or may not result in a
significant cash impact or effect on net income as measured in accordance with GAAP, but their impact is not directly related to Borland's ongoing business
activities in such periods. Consequently, Borland excludes the amortization of intangible assets, acquisition-related expenses and in-process research and
development expenses from its Non-GAAP financial measures. Borland believes that examination of both GAAP information that includes such charges and
Non-GAAP financial measures that exclude such expenses provides management with a comparative measure between product lines when allocating available
resources. Borland believes that if it did not provide such Non-GAAP financial information, investors would not have all the necessary data to analyze
Borland's ongoing operations.

About Borland

Borland Software Corporation (Nasdaq:BORL) is a world leader in platform independent software development and deployment solutions that are designed
to accelerate the entire application development lifecycle. By connecting managers, testers, designers, developers, and implementers in real time, Borland
enables enterprises worldwide to define and sustain their competitive advantage. For more information, visit: http://www.borland.com or the Borland
Developer Network at http://bdn.borland.com.

All Borland brand and product names are trademarks or registered trademarks of Borland Software Corporation in the United States and other countries.
All other marks are the property of their respective owners.

Safe Harbor Statement

This press release contains forward-looking statements including statements regarding Borland's strategic focus, near-term and long-term outlook,
anticipated financial performance in the coming quarter, and the anticipated benefit to British Telecommunications from using Borland solutions.  Such
forward-looking statements are based on current expectations that involve a number of uncertainties and risks that may cause actual events or results to
differ materially. Factors that could cause actual events or results to differ materially include, but are not limited to: our ability to sell
multi-product solutions for the application development lifecycle; our ability to integrate new members of our executive management and sales management
teams; the changing nature of the markets in which we operate, namely the maturing of certain target markets and the uncertainty regarding the growth in
other target markets; the effect of some of our competitors making products that compete with our products available to their customers for no or a very
low fee;  market acceptance of new or enhanced products or services developed, marketed or sold by us; and general industry trends, general economic
factors and capital market conditions. These and other risks may be detailed from time to time in Borland's periodic reports filed with the Securities
and Exchange Commission, including, but not limited to, Borland's 2003 Annual Report on Form 10-K, its quarterly reports on Form 10-Q, and other SEC
filings, copies of which may be obtained from http://www.sec.gov/. Borland is under no obligation to (and expressly disclaims any such obligation to)
update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new
information, future events or otherwise.

(TABLES TO FOLLOW)

###

---



BORLAND SOFTWARE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, unaudited)







|                                                  |  | June 30, 2004              |  | December 31, 2003       
|------------------------------------------------- |  | -------------------------- |  | ------------------------
|                                                  |  |                            |  |                         
|ASSETS                                            |  |                            |  |                         
|Cash, cash equivalents and short-term investments |  | $                213,494   |  | $              202,646  
|Accounts receivable, net                          |  | 45,414                     |  | 54,989                  
|Property and equipment, net                       |  | 17,950                     |  | 20,377                  
|Goodwill and acquired intangibles                 |  | 202,316                    |  | 210,055                 
|Other assets                                      |  | 22,373                     |  | 23,722                  
|                                                  |  |                            |  |                         
|Total assets                                      |  | $                501,547   |  | $              511,789  
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|LIABILITIES AND STOCKHOLDERS' EQUITY              |  |                            |  |                         
|Deferred revenues                                 |  | $                   50,382 |  | $                 48,330
|Other current liabilities                         |  | 72,975                     |  | 82,733                  
|                                                  |  |                            |  |                         
|Total current liabilities                         |  | 123,357                    |  | 131,065                 
|                                                  |  |                            |  |                         
|Other long-term liabilities                       |  | 12,876                     |  | 12,856                  
|                                                  |  |                            |  |                         
|Stockholders' equity                              |  | 365,314                    |  | 367,868                 
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|Total liabilities and stockholders' equity        |  | $                 501,547  |  | $             511,789   
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         
|                                                  |  |                            |  |                         

---









BORLAND SOFTWARE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data, unaudited)





|                                                                                            |  | Three Months Ended      |  | Six Months Ended     
|------------------------------------------------------------------------------------------- |  | ----------------------- |  | ---------------------
|                                                                                            |  |                         |  |                      
|                                                                                            |  | June 30, 2004           |  | June 30, 2003        
|                                                                                            |  |                         |  |                      
|Revenues                                                                                    |  |                         |  |                      
|Licenses                                                                                    |  | $                54,134 |  | $              56,622
|Services                                                                                    |  | 22,392                  |  | 19,648               
|                                                                                            |  |                         |  |                      
|Total revenues                                                                              |  | 76,526                  |  | 76,270               
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Cost of revenues                                                                            |  |                         |  |                      
|Licenses and other                                                                          |  | 1,643                   |  | 3,012                
|Services                                                                                    |  | 5,801                   |  | 7,324                
|Amortization of acquired intangibles                                                        |  | 2,375                   |  | 4,752                
|                                                                                            |  |                         |  |                      
|Total cost of revenues                                                                      |  | 9,819                   |  | 15,088               
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Gross profit                                                                                |  | 66,707                  |  | 61,182               
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Operating expenses                                                                          |  |                         |  |                      
|Research and development                                                                    |  | 17,195                  |  | 17,702               
|Selling, general and administrative                                                         |  | 42,219                  |  | 44,395               
|Restructuring, amortization of other
     intangibles and acquisition-related
     expenses |  | 1,214                   |  | 3,758                
|                                                                                            |  |                         |  |                      
|Total operating expenses                                                                    |  | 60,628                  |  | 65,855               
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Operating income (loss)                                                                     |  | 6,079                   |  | (4,673)              
|                                                                                            |  |                         |  |                      
|Interest and other income (expense)                                                         |  | (245)                   |  | 889                  
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Income (loss) before taxes                                                                  |  | 5,834                   |  | (3,784)              
|                                                                                            |  |                         |  |                      
|Provision for income taxes                                                                  |  | 2,988                   |  | 1,185                
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Net income (loss)                                                                           |  | $                 2,846 |  | $             (4,969)
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|                                                                                            |  |                         |  |                      
|Net income (loss) per share -- Basic                                                        |  | $          0.04         |  | $        (0.06)      
|                                                                                            |  |                         |  |                      
|Net income (loss) per share -- Diluted                                                      |  | $          0.03         |  | $        (0.06)      
|                                                                                            |  |                         |  |                      
|Shares used in computing basic net income (loss) per share                                  |  | 80,381                  |  | 80,547               
|Shares used in computing diluted net income (loss) per share                                |  | 81,798                  |  | 80,547               
|                                                                                            |  |                         |  |                      

---



BORLAND SOFTWARE CORPORATION

NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data, unaudited)





|                                                                                            |  | Three Months Ended |  | Six Months Ended  
|------------------------------------------------------------------------------------------- |  | ------------------ |  | ------------------
|                                                                                            |  |                    |  |                   
|                                                                                            |  | June 30, 2004      |  | June 30, 2003     
|                                                                                            |  |                    |  |                   
|Revenues                                                                                    |  |                    |  |                   
|Licenses                                                                                    |  | $           54,134 |  | $           56,622
|Services                                                                                    |  | 22,392             |  | 19,648            
|                                                                                            |  |                    |  |                   
|Total revenues                                                                              |  | 76,526             |  | 76,270            
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Cost of revenues                                                                            |  |                    |  |                   
|Licenses and other                                                                          |  | 1,643              |  | 3,012             
|Services                                                                                    |  | 5,801              |  | 7,324             
|Amortization of acquired intangibles                                                        |  | --                 |  | --                
|                                                                                            |  |                    |  |                   
|Total cost of revenues                                                                      |  | 7,444              |  | 10,336            
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Gross profit                                                                                |  | 69,082             |  | 65,934            
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Operating expenses                                                                          |  |                    |  |                   
|Research and development                                                                    |  | 17,195             |  | 15,457            
|Selling, general and administrative                                                         |  | 42,219             |  | 46,640            
|Restructuring, amortization of other 
    intangibles and acquisition-related
     expenses |  | --                 |  | --                
|                                                                                            |  |                    |  |                   
|Total operating expenses                                                                    |  | 59,414             |  | 62,097            
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Operating income                                                                            |  | 9,668              |  | 3,837             
|                                                                                            |  |                    |  |                   
|Interest and other income (expense)                                                         |  | (245)              |  | 889               
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Income before taxes                                                                         |  | 9,423              |  | 4,726             
|                                                                                            |  |                    |  |                   
|Provision for income taxes (1)                                                              |  | 2,921              |  | 1,185             
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Net income                                                                                  |  | $            6,502 |  | $            3,541
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   
|Net income per share -- Basic                                                               |  | $        0.08      |  | $        0.04     
|                                                                                            |  |                    |  |                   
|Net income per share -- Diluted                                                             |  | $        0.08      |  | $        0.04     
|                                                                                            |  |                    |  |                   
|Shares used in computing basic net income per share                                         |  | 80,381             |  | 80,547            
|Shares used in computing diluted net income per share                                       |  | 81,798             |  | 82,821            
|                                                                                            |  |                    |  |                   
|                                                                                            |  |                    |  |                   



(1)     For the three and six months ended June 30, 2004, we have presented Non-GAAP income including the tax effect of the
Non-GAAP adjustments. For the three and six months ended June 30, 2003, we did not make Non-GAAP adjustments to the tax provision, as we had a negative
effective tax rate on a GAAP basis.

---

Reconciliation

In calculating Non-GAAP net income and net income per share, Borland utilizes a Non-GAAP financial measure.  Investors are encouraged to review
the reconciliation of Non-GAAP net income and net income per share to the most directly comparable GAAP measures as provided below.





|                                                      | Three Months Ended
June 30,                      |  | Six Months Ended
June 30, |  |                 
|----------------------------------------------------- | ------------------------------------------------ |  | ------------------------- |  | ----------------
|                                                      |                                                  |  |                           |  |                 
|                                                      | 2004                                             |  | 2003                      |  | 2004            
|                                                      |                                                  |  |                           |  |                 
|                                                      | (in thousands, except per share data, unaudited) | 
|GAAP net income (loss)                                | $         2,846                                  |  | $         (4,969)         |  | $         3,559 
|Restructuring                                         | (591)                                            |  | (79)                      |  | (677)           
|Amortization of intangible assets                     | 3,539                                            |  | 5,903                     |  | 7,290           
|Acquisition-related expenses                          | 641                                              |  | 2,686                     |  | 1,276           
|In-process research and development                   | --                                               |  | --                        |  | --              
|Tax effect on Non-GAAP items (1)                      | 67                                               |  | --                        |  | (166)           
|                                                      |                                                  |  |                           |  |                 
|Non-GAAP net income                                   | $         6,502                                  |  | $           3,541         |  | $       11,282  
|                                                      |                                                  |  |                           |  |                 
|Basic Non-GAAP net income per share                   | $           0.08                                 |  | $             0.04        |  | $           0.14
|Shares used in computing basic net income per share   | 80,381                                           |  | 80,547                    |  | 80,594          
|Diluted Non-GAAP net income per share                 | $           0.08                                 |  | $             0.04        |  | $           0.14
|Shares used in computing diluted net income per share | 81,798                                           |  | 82,821                    |  | 82,247          



(1)     For the three and six months ended June 30, 2004, we have presented Non-GAAP income including
the tax effect of the Non-GAAP adjustments. For the three and six months ended June 30, 2003, we did not make Non-GAAP adjustments to the tax provision,
as we had a negative effective tax rate on a GAAP basis.