Park City Group Substantially Strengthens Balance Sheet; Reduced Interest Expense to Have Dramatic Impact on Earnings

PARK CITY, Utah--April 28, 2006--Park City Group, Inc. (OTCBB: PKCY) today announced that Riverview Financial, a holding company wholly owned by Park City Group's Chairman and Chief Executive Officer Randall Fields has voluntarily converted $3.2 million of subordinated debt.

The action reduces Park City Group debt from $7.4 million at the beginning of fiscal year 2004 to $2.3 million currently. Further, the move substantially reduces the company's annual interest charges from $1.5 million in fiscal 2004 to under $300,000 by 2007. After conversion, Park City Group will have approximately 351 million shares outstanding, including the 66.2 million conversion shares.

Randy Fields, President and CEO said, "This is a transforming event for Park City Group. Converting the subordinated debt reduces our shareholders deficit by 57%, and combined with other actions will ultimately reduce our annual interest expense by 83%, compared to 2004. In conjunction with Cameron Associates, our recently appointed investor relations counsel, we've been visiting with a number of institutional investors. After speaking with many of these investors, we believe our current earnings momentum coupled with this transaction makes Park City Group a significantly more attractive investment. The Company earned $1.8 million on $4.8 million of revenue in the first six months of this year and this reduction in debt will have a meaningful impact on net income going forward as well. We are a much stronger company as a result.."

About Park City Group

Park City Group, Inc. develops and markets patented computer software that helps its retail customers to increase their sales while reducing their inventory and labor costs: the two largest, controllable expenses in the retail industry. The technology has its genesis in the operations of Mrs. Fields Cookies, co-founded by Randy Fields, CEO of Park City Group, Inc. Industry leading customers such as The Home Depot, Victoria's Secret, The Limited, Anheuser Busch Entertainment and Tesco Lotus benefit from our software. For more about Park City Group (OTCBB:PKCY) visit our website at www.parkcitygroup.com.

Forward-Looking Statements:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's anticipated financial results for its third quarter and fiscal year ending June 30, 2006. These forward-looking statements are based on the Company's expectations and are subject to risks and uncertainties that cannot be predicted or quantified and are beyond the Company's control. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. These risks and uncertainties include economic and market conditions, audit-related costs and findings and legal proceedings and their effects on the Company's expected financial results. Other factors that could cause actual results to differ materially from expectations are described in the Company's reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.