Waters Magazine Names Pegasystems Top Provider of Business Process Management Systems in 2004

CAMBRIDGE, Mass., Dec. 21, 2004 — The editors of leading financial publication Waters magazine have named Pegasystems Inc. (NASDAQ: PEGA) the top business process management solution provider of 2004. Pegasystems' service and product offerings "soar above the competition" with simplified navigation and simulation features for evaluating new processes and applications before they go live, according to the publication's annual Waters Awards, which appeared in the magazine's December issue.

Waters cited Pegasystems' PegaRULES Process Commander platform and the SmartBPM Suite as the basis of its decision. The editors singled out several new features of Process Commander Version 4.2 as particularly significant for companies trying to streamline and automate their business processes with business rules, as opposed to more expensive and inflexible hard coding.

"The best feature of Process Commander is the Process Simulator, which lets developers simulate new business processes before they go live," the editors wrote. "Using this handy feature, they can generate a variety of 'what if' scenarios and examine their effects on service levels, costs and potential errors. Kiss those days of flip-the-switch-and-pray goodbye."

PegaRULES Process Commander is a Java and XML-based enterprise platform that enables companies to respond to changing market conditions by creating new applications and automated processes in days, not months. Its built-in, browser-based development environment enables business managers to modify and create processes without complex and time-consuming assistance from IT staff. Its built-in, tightly-integrated rules engine replaces the need for hard-coded applications.

"Much of our effort over the last few years has been to bridge the gap between back-end resources and the front end, where business takes place," said Pegasystems' CEO Alan Trefler. "This recognition from Waters, which highlights our simulation and ease of use, shows how far we've come toward that goal."

About Waters

Since its launch in 1993, Waters magazine has covered the issues that financial IT professionals face in the global capital markets arena. With a circulation of 10,000 readers worldwide, Waters delivers in-depth coverage on trading technology, compliance, infrastructure, outsourcing and more. Waters also examines fundamental issues like talent retention, compensation and project management. For more information, please visit www.watersonline.com.

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
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Ilena Ryan
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Joanna Richardson
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Jon Brigden
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Pegasystems Inc.
One Rogers St.
Cambridge, MA 02142
Phone +1 617-374-9600
Fax +1 617-374-9620