Pegasystems Extends Share-Repurchase Program

CAMBRIDGE, Mass., Aug. 18, 2005 — Pegasystems Inc. (Nasdaq: PEGA), a leading provider of smart business process management (BPM) software, today announced that its Board of Directors has authorized an extension of Pegasystems' previously announced share repurchase program. The authorization extends the expiration date of the share repurchase program from September 30, 2005 to June 30, 2006. The authorization amount of $10 million remains unchanged. As of June 30, 2005 the company had repurchased 409,121 shares at an average price of $5.75 for a total of approximately $2.4 million, leaving approximately $7.6 million available.


At the company's discretion, the purchases will be made from time to time on the open market or in privately negotiated transactions. Under the program, shares may be repurchased in such amounts as market conditions warrant, subject to regulatory and other considerations. The repurchase program will continue to be funded using the company's working capital. As of June 30, 2005, Pegasystems had cash and short-term investments available of approximately $109.8 million.

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

North America:
Sean Audet
Director, Corporate Communications
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+1 617-528-5230

Ilena Ryan
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+1 617-866-6722

Europe:
Joanna Richardson
Director, Corporate Communications
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+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