PeopleSoft Comments On Oracle's Unsolicited Tender Offer Results

PLEASANTON, Calif.--(BUSINESS WIRE)--July 3, 2003--PeopleSoft, Inc. (Nasdaq:PSFT) today commented on Oracle Corporation's (Nasdaq:ORCL) announcement that less than 11% of PeopleSoft's outstanding shares were tendered into Oracle's unsolicited tender offer.

The underwhelming response to Oracle's tender offer is consistent with the PeopleSoft Board's conclusion that Oracle's offer undervalues the company and involves unacceptable risks.

PeopleSoft yesterday announced that its preliminary license revenue, total revenue and earnings per share for the second quarter of 2003 exceeded both the company's guidance and analysts' consensus estimates.

PeopleSoft believes that it has a better plan, including the acquisition of J.D. Edwards, which provides superior value and greater certainty for stockholders.

PeopleSoft's Board unanimously recommends that stockholders reject Oracle's unsolicited offer. PeopleSoft (Nasdaq:PSFT) is a leading provider of application software for the real-time enterprise. For more information, visit us at

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