Pegasystems Appoints Henry Ancona President and Chief Operating Officer

CAMBRIDGE, Mass., Jul. 29, 2002 — Pegasystems Inc. (NASDAQ:PEGA), a leader in rules-driven, business process automation software, today announced it has appointed Henry Ancona, 58, as president and chief operating officer of the Company, effective July 30, 2002. He will succeed Rick Jones, who will transition to the role of vice chairman, as announced in April 2002.


Ancona brings more than 25 years of experience in software and services businesses. Most recently, he served as chairman and CEO of Evidian, a leading vendor of security and telecommunications management software. During his four-year tenure at Evidian, Ancona grew the firm into a stand-alone, global business. Prior to joining Evidian, Ancona held senior executive positions at technology companies including Polaroid and Digital Equipment Corporation. At Polaroid, he was executive vice president, responsible for the Commercial Imaging and Electronic Imaging businesses. At Digital, he led the company's cross-industry application businesses, where he drove the growth of an integrated enterprise office software suite from inception to more than 5 million users.


"Henry brings a demonstrated track record in marketing enterprise level systems, building mission-critical software, and effectively creating businesses that scale," said Alan Trefler, founder and CEO, Pegasystems. "Henry's experience, discipline, and sophistication are ideally suited to the opportunities and challenges of growing Pegasystems' business."


Continued Trefler, "Under Rick Jones' leadership, we have built a solid financial and operational foundation, implemented initiatives to help improve customer satisfaction, and reinforced a culture of personal accountability. We remain committed to maintaining the high standards that Rick has brought to the organization and look forward to his continued, active involvement as vice chairman."


"I am delighted to have the opportunity to join Pegasystems at such an exciting stage in its growth," said Henry Ancona. "Its core Applications business has a 19-year history of technical strength, matched by a world-class customer base. This is complemented by the emerging PegaRULES business, which has begun to receive accolades from industry analysts, partners, and early adopters. I am excited to help lead Pegasystems to the next level of growth and profitability."


Commented Rick Jones, current vice chairman of Pegasystems, "We were determined to select an executive with proven global experience and outstanding leadership abilities. We have found these, and other remarkable qualities with Henry Ancona. As I complete the transition of my duties to Henry this summer, I remain committed to continuing to work with the Pegasystems management team and the Board of Directors in my role as vice chairman. This new role will enable me to attend to family priorities in Florida, while maintaining an active involvement with Pegasystems."


Ancona holds a B.S. and M.S. in electrical engineering from the Massachusetts Institute of Technology and an MBA from Harvard Business School. 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.


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 June 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.


Notes: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.

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.

All trademarks are the property of their respective owners.

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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