Riggs Bank Deploys PegaCRM Private Banking in London, Enhancing its Customer Service

CAMBRIDGE, Mass., Nov. 6, 2001 — Pegasystems Inc. (NASDAQ: PEGA), specialists in rules-driven process automation, today announced that Riggs & Co. – International Private Banking in London (a trading name of Riggs Bank N.A. of Washington, DC), is using PegaCRM Private Banking software to deliver a high-quality, personalized service to its customers. Since its implementation of PegaCRM Private Banking, Riggs & Co. is using the software to address the needs of high net worth clients more effectively.

The implementation of PegaCRM Private Banking at Riggs & Co. is helping the bank to automate processing of manual tasks, thereby freeing staff to be client focused in order to add value and intelligence to customer interactions. By integrating PegaCRM Private Banking with its existing back-office systems and using rules to automate best practices, Riggs has given employees the tools and personalized information needed to help build stronger and more profitable client relationships. With PegaCRM Private Banking, banks are better equipped to deliver consistent, personalized customer care while helping to save money and improve the efficiency of their service operations.

Bankers since 1836 and headquartered in Washington, D.C., Riggs Bank N.A. has achieved improvements in customer service levels in the year 2000 when the company first adopted a Pegasystems solution for Europe. Riggs & Co. specializes in private banking, trust and investment management services for high net worth individuals with European operations in London and Jersey in the Channel Islands. The bank has been working with Pegasystems since 1999 to deploy its CRM strategy, primarily through the introduction of PegaCRM Private Banking. Riggs & Co. selected PegaCRM Private Banking because of its rules-based functionality, which allows them to incorporate new products and services and maintain flexibility in an evolving marketplace.

"Today, organizations differentiate themselves by improving the quality and accuracy of the customer experience. Pegasystems' rules-based architecture enables us to evolve our system to respond to changing market dynamics and capture new business opportunities," commented Mr. Wadih Hanna, managing director of Riggs & Co. in London. "Pegasystems continually supports our comprehensive CRM strategy so we are delighted to be working with them, particularly in light of our very favorable experience with the first implementation which has enabled us successfully to launch this new business in Europe."

"Pegasystems is committed to forging strong relationships with companies like Riggs who need flexibility and who want to add value to their customer service. As the demand for personalized wealth management services continues to grow, Pegasystems is ideally positioned to support companies in this type of a competitive marketplace," comments David Wells, vice president and managing director, North American and European Service, Pegasystems.

More than 40 staff members across London and Jersey are using PegaCRM Private Banking and Pegasystems is providing on-site training to staff as an additional service. In this implementation, the Pegasystems solution is running on a Microsoft NT cluster with an SQL 7 relational database.

Partnering and collaborating with Pegasystems in this project are Misys International Banking Systems (formally Midas Kapiti International), Aston Naviteam, Landsteinar, Tower Technology and Blueprint who are providing banking software, accounting and billing software, document image processing systems and the reporting tools to support the Pegasystems solution.

About Riggs Bank

Riggs National Corporation is a Washington, D.C.-based financial services holding company. Riggs & Co. is a London-based division of Riggs that combines private banking, trust and investment-management services. Riggs & Co. provides a comprehensive array of financial products in a highly personal manner to customers with extensive needs for financial services. Such services include financial planning, trust and investment management in addition to traditional banking products such as loans and deposits.

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 September 30, 2001 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and 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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