Pegasystems Announces Management Changes

CAMBRIDGE, Mass. — Jan. 4, 2005 — Pegasystems Inc. (NASDAQ: PEGA) today announced the resignation of Henry Ancona as President, Chief Operating Officer, and Director of the company, effective immediately. Mr. Trefler, the Chairman and Chief Executive Officer, will assume the responsibilities of the management positions vacated by Mr. Ancona.


Mr. Ancona commented, "I am stepping down knowing the company has assembled a strong, capable management team to drive the business forward. I wish the company all the best."


Mr. Trefler commented, "Over the past two and half years, Henry has made significant contributions to improving our operations. We thank him for his efforts and wish him well in his future endeavors."


Pegasystems expects to announce 2004 annual revenue, profit before tax, and cash flow from operations within the lower part or slightly below the previously announced guidance ranges. The previously announced guidance was 2004 revenues in the range of $95 to $103 million, 2004 profit before tax in the range of $11 to $17 million, and 2004 cash flow from operations in the range of $7 to $11 million.


Finally, Mr. Trefler noted that "Customer license signings in the fourth quarter of 2004 were among the strongest in the company's history."

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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Pegasystems Inc.
One Rogers St.
Cambridge, MA 02142
U.S.A.
Phone +1 617-374-9600
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