Pegasystems Approves New Share Repurchase Program

CAMBRIDGE,
MASS. – December 1, 2008 –
Pegasystems (NASDAQ: PEGA), the
industry leader in Business Process Management software, today announced that
its Board of Directors has authorized a new share repurchase program (the “New
Repurchase Program”).  The new program
replaces the current program which expires on December 31, 2008.  Under the New Repurchase Program, effective
December 1, 2008, an additional $15 million in repurchases of Pegasystems
common stock has been approved.  The New
Repurchase Program will expire December 31, 2009.  Through November 28, 2008, the Company had
repurchased 2,112,422 shares under the current repurchase program, for an
average price of $11.82 per share.

At
the Company’s discretion, the purchases will be made from time to time on the
open market or in privately negotiated transactions.  Shares may be repurchased in such amounts as
market conditions warrant, subject to regulatory and other considerations.

 The
Company has established a pre-arranged stock repurchase plan, intended to
comply with the requirements of Rule 10b5-1 under the Securities Exchange Act
of 1934, as amended, and of Rule 10b-18 of the Exchange Act (the “10b5-1
Plan”).  Shares that are repurchased
under the 10b5-1 Plan will be repurchased under the New Repurchase Program.

Any actual repurchases under the New Repurchase
Program will be disclosed in the Company’s annual reports on Form 10-K and
quarterly reports on Form 10-Q filed with the Securities and Exchange
Commission for the quarterly periods ending between December 31, 2008 and
December 31, 2009.

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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Media Contacts

Lisa Pintchman Rogers
VP, Corporate Communications
[email protected]
+1 617-866-6022

North America:
Sean Audet
Director, Corporate Communications
[email protected]
+1 617-528-5230

Ilena Ryan
Sr. Manager, Public Relations
[email protected]
+1 617-866-6722

Europe:
Joanna Richardson
Director, Corporate Communications
[email protected]
+44 (0) 118 9651 660

Jon Brigden
PR & Communications Manager
[email protected]
+44 (0) 118 9398 584

Pegasystems Inc.
One Rogers St.
Cambridge, MA 02142
U.S.A.
Phone +1 617-374-9600
Fax +1 617-374-9620