Henry Ancona Elected to Pegasystems' Board of Directors

CAMBRIDGE, Mass, Dec. 16, 2002 — Pegasystems Inc. (NASDAQ: PEGA), a leader in rules-driven business process management (BPM), today announced that Henry Ancona, president and chief operating officer, has been elected to its Board of Directors. Ancona, a seasoned technology executive, has over 20 years of experience in successfully building mission-critical software, creating scalable businesses and marketing enterprise software for technology organizations. Ancona joined Pegasystems in July 2002 as president and chief operating officer.


"Henry is a very welcome addition to our Board and we look forward to his active involvement," said Alan Trefler, chairman and CEO, Pegasystems. "Henry's depth of vision and strength in execution will position Pegasystems to become the rules-driven BPM software provider of choice."


"My vision for Pegasystems is to fundamentally change the way business does business," said Henry Ancona, president and COO, Pegasystems. "Our rules-driven BPM software allows business users to change their business practices and processes at their desktops, which helps enables enterprises to be very responsive to changing market conditions."


Prior to joining Pegasystems, Ancona most recently served as chairman, president and chief executive officer of a security and telecommunications software company. He is a member of the Board of Directors of Sentillion Inc., a healthcare software company, and OneSource Information Services Inc. (NASDAQ: ONES), a provider of Web-based business information. Ancona holds a B.S. and M.S. in electrical engineering from the Massachusetts Institute of Technology and an MBA from Harvard Business School.


Forward-Looking Statements


Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan" and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include volatility of our quarterly operating results, difficulty in predicting the completion of product implementations and consequently the timing of our license revenue recognition, our ability to develop new products and evolve existing ones, the impact on our business of the ongoing consolidation in the financial services market, historically our core market, our ability to attract and retain key employees, reliance on certain key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2002 and other recent filings on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved.

About Pegasystems

Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.

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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.

 

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