SANTA CLARA, Calif., December 20, 2004 – Hyperion (NASDAQ: HYSL), the global leader in Business Performance Management software, today announced that Group Health Cooperative, the second largest consumer-governed health care organization in the United States, has purchased Hyperion Essbase, Hyperion Planning and Hyperion Analyzer to create and distribute management reports and to implement a budgeting solution.

Hyperion’s software will pull data from Group Health Cooperative’s Lawson ERP system. The solution will be used by between 800 and 1,000 managers, analysts and executives in a number of functional areas, including finance, human resources, delivery system management, IT, marketing and sales. Initial steps of the implementation will focus on the creation and distribution of management reports, including detailed expense and revenue reporting. Following that roll out, Group Health will begin building templates and forms for the planning process for the 2006 budget cycle.

“Hyperion’s Business Intelligence software will allow us to deploy graphical, interactive analysis applications for the delivery of custom reports while Hyperion Planning will enable us to centrally manage the planning process,” said Tiffany Hudson, manager of business systems and reporting at Group Health Cooperative.

“In today’s economy, it’s becoming more important for healthcare organizations to gain a better understanding of profitability by line of business so that they can better manage expenses and optimize their resources,” said John O’Rourke, senior director of product marketing at Hyperion. “Group Health’s choice of Hyperion’s Business Performance Management solution will provide them with a platform to support both their short term reporting needs and longer term planning and analysis requirements.”

Founded in 1947, Group Health is a consumer-governed, nonprofit health care system that coordinates care and coverage. Group Health encompasses medical and specialty centers, hospitals, a nationally recognized research center, and a charitable foundation.

About Hyperion

Hyperion is the global leader in Business Performance Management software. More than 9,000 customers – including 91 of the Fortune 100 – rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable applications with the leading Business Intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the company’s innovative and specialized solutions and services.

Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,500 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Santa Clara, California, Hyperion generated annual revenues of $622 million for the 12 months that ended June 30, 2004. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit www. hyperion.com , www.hyperion.com/contactus or call 800 286 8000 (U.S. only).

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Safe Harbor Statement

Statements in this press release other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the potential success of anticipated product features, the anticipated product offerings and the potential market opportunities for business performance management software. Such statements constitute anticipated outcomes and do not assure results. Actual results may differ materially from those anticipated by the forward-looking statements due to a variety of factors, including, but not limited to the company's ability to retain and attract key employees, the successful and timely development of new products, the impact of competitive products and pricing, customer demand, and technological shifts. For a more detailed discussion of factors that could affect the company's performance and cause actual results to differ materially from those anticipated in the forward-looking statements, interested parties should review the company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on September 13, 2004 and the report on Form 10-Q filed on November 9, 2004. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

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Barbara Maigret
Hyperion
408 588-8729
barbara_maigret@hyperion.com