Way Cleared for PeopleSoft Acquisition of J.D. Edwards

PLEASANTON, Calif. & DENVER--(BUSINESS WIRE)--PeopleSoft, Inc. (Nasdaq:PSFT) and J.D. Edwards & Company (Nasdaq:JDEC) today announced that, in connection with PeopleSoft's exchange offer to acquire all of the outstanding shares of J.D. Edwards, the companies have received early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. PeopleSoft's exchange offer for J.D. Edwards will expire at 12:00 midnight EDT, Thursday, July 17, 2003 at which time PeopleSoft expects to complete the acquisition.

"The Department of Justice's decision to grant early termination is great news," said PeopleSoft President and CEO Craig Conway. "This is a very important milestone and clears the way for the J.D Edwards acquisition to be completed."

"Together, PeopleSoft and J.D. Edwards will set a new standard in serving the needs of enterprise application software customers," said J.D. Edwards Chairman, President and CEO Bob Dutkowsky. "The combined company will offer both mid-sized and large enterprise customers access to the broadest, most open suite of integrated enterprise software applications in the industry."

PeopleSoft (Nasdaq:PSFT) is a leading provider of application software for the real-time enterprise. For more information, visit us at www.peoplesoft.com.

J.D. Edwards (Nasdaq:JDEC) makes customers stronger, enabling them to solve their most important business challenges. The company offers collaborative enterprise software as well as consulting, education and support services. For more information: www.jdedwards.com.

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