Pegasystems Announces "PegaVISION 2003": User Conference to Showcase "Smart" Business Process Management; Conference Marks Pegasystems' 20th Anniversary

CAMBRIDGE, Mass., May 16, 2003 — Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, smart business process management (BPM) software, today announced that PegaVISION 2003, its customer and partner conference, opens Sunday evening, May 18th in Boston. The event, showcasing the latest trends in BPM and business rules, marks the company's 20th anniversary of providing such solutions to many of the world's leading companies in financial services, healthcare and insurance.


Featured speakers at PegaVISION 2003 include industry analysts from such firms as AMR Research, Celent Communications, Forrester Research, Gartner, and META Group; and event sponsors include Bearing Point, Cognizant, IBM, and Sun Microsystems, among others. The conference and exhibition will be held at the Boston Marriott Copley Place from May 18th–20th, and more than 400 Pegasystems customers and partners from both North America and Europe are scheduled to participate.


"We have a clear and distinct vision that the power of rules-based BPM, what we call 'simply smart BPM,' can create a more agile enterprise — that it can give business users a strategic advantage by automating work, helping to increase productivity and ROI, and ultimately helping to make the organization more nimble and competitive," said Henry Ancona, Pegasystems' president and COO. "Our goal is to share that vision with our customers, partners and prospects, and together learn and benefit from the latest trends and developments in rules and BPM."


In 1983, Pegasystems established itself as a pioneer in rules technology, and since then has developed particular expertise in delivering rules-based BPM solutions to a wide variety of customers around the world. Pegasystems has a proven record of success in wholesale banking, retail check processing, credit card processing and automated processing for the healthcare and insurance industries, delivering solutions that help such blue-chip customers as AOL Time Warner, Bank of America, Bank of New York, BarclayCard, Citibank, EDS/Inland Revenue, The Federal Reserve Bank, and over one-fifth of the national Blue Cross Blue Shield network.


Pegasystems' applications have helped organizations to not only increase efficiencies and streamline processes, but also to increase agility and flexibility — all while helping to deliver significant returns on investment. Pegasystems estimates that, since the company's inception, its applications have resolved over one billion pieces of work. More than 50,000 wire transfer investigations are handled by the company's applications every day around the world. According to the company's estimates, approximately 55 billion checks are stored in its all-items databases, while more than $19 trillion in payments are stored in its transaction databases.


"We started the company with the belief that rules and rules engines could change the enterprise — transforming the way users implement and update key business processes and, fundamentally, changing the way that business does business," said Alan Trefler, Pegasystems' founder, chairman, and CEO. "We spent 10 years sharpening our skills as a tech boutique, working with and learning from some of the most forward-looking companies in the world, while at the same time building an infrastructure that would allow us to scale effectively.


"Thanks to that rich experience," Trefler continued, "we believe we are positioned today to capitalize on the enormous demand for genuinely intelligent business process management — mission-critical solutions that not only receive, route, and report on work, but that actually resolve it. This is only possible when a sophisticated rules engine comprises the essence — the 'DNA' — of the automation and workflow processes."


Pegasystems' annualized revenues today approach $100 million, with the company having successfully grown revenue each and every year since it was founded, even throughout challenging economic cycles. Most recently, Pegasystems reported revenues of $25.6 million for the quarter ended March 31, 2003, an increase of 6% from the first quarter of 2002, and achieved earnings per diluted share of $0.19 for the quarter — nearly double the $.10 per share for the first quarter of 2002.


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 impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on 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 10Q for the quarter ended March 31, 2003 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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Pegasystems Inc.
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