<PAGE> 1
COMPARISON OF STOCKHOLDER RETURN
Set forth below are line graphs comparing the annual percentage change in
the cumulative total return on the Company's Common Stock with the cumulative
total return of the Standard & Poor's 500 Index and a composite index comprised
of the Standard & Poor's (S&P) Software and Service Index and the S&P Computer
Index (i) for the period commencing on September 30, 1991 and ending on
September 30, 1996, and (ii) for the period commencing on September 30, 1985 and
ending on September 30, 1996.
STOCKHOLDER RETURNS 1991-1996(2)
<TABLE>
<CAPTION>
MEASUREMENT PERIOD TRIAD SYSTEMS COMBINED
(FISCAL YEAR COVERED) CORPORATION S&P 500 INDEX INDEX(1)
<S> <C> <C> <C>
1991 100 100 100
1992 167.86 111.05 103.11
1993 150.00 125.49 109.40
1994 132.14 130.11 137.56
1995 164.29 168.82 199.61
1996 153.57 203.14 275.55
</TABLE>
13