PeopleSoft Delivers Global Consolidations; New Analytic Solution Enables Faster, More Accurate Reporting in Real-Time

PLEASANTON, Calif., Dec. 16, 2002--PeopleSoft, Inc. today announced the general availability of Global Consolidations, a new solution in its award-winning Enterprise Performance Management (EPM) suite. This next-generation solution goes beyond traditional transaction-based consolidation reporting by allowing corporations to consolidate and analyze financial data from multiple organizations in real-time. As a result, customers can more easily address today's changing and increasing number of regulatory and reporting requirements.

"The interdependence of global financial markets dictates that multinational companies consolidate and report their financial statements in days. Yet, most companies still require weeks to gather and interpret their data," said Barry Wilderman, senior vice president and service director of application delivery strategies, META Group, Inc. "The ability to quickly consolidate data from multiple reporting systems into a single source allows companies to be more responsive to changing reporting requirements while still focusing on strategic decision-making." .

PeopleSoft Global Consolidations creates a single reporting system that runs on any platform, dramatically reducing the time and effort required to consolidate and report company results. Consolidated statutory reporting can now be handled quickly and easily, while facilitating compliance with global and local accounting requirements. As part of PeopleSoft's Suite of EPM analytics applications, PeopleSoft Global Consolidations also integrates with business planning, budgeting and performance data. As a result, customers can have a complete financial picture for management reporting. .

"Global Consolidations is based on PeopleSoft's Enterprise Performance Management suite, under which organizations can easily link legacy systems and create an integrated view of performance information," said Mike Pugliese, a managing director for BearingPoint, Inc. (NYSE:BE), one of the world's largest business consulting and systems integration firms. "Not only can Global Consolidations help to improve close and reporting times, but it can also enhance reporting and analytics." .

"Real-time access to the right financial information is an imperative in today's business environment. This requirement is especially challenging when companies work with multiple currencies, accounting systems, and ownership structures," said Renee Lorton, senior vice president and general manager of PeopleSoft Financial Management Solutions. "PeopleSoft Global Consolidations gives managers the data they need for both and management reporting. As a result, managers can report faster and with greater confidence in their numbers." PeopleSoft Global Consolidations is available immediately. .

About PeopleSoft.

PeopleSoft (Nasdaq:PSFT) is the world's leading provider of application software for the real-time enterprise. PeopleSoft pure Internet software enables organizations to reduce costs and increase productivity by directly connecting customers, suppliers, partners and employees to business processes on-line, in real time. PeopleSoft's integrated, best-in-class applications include Customer Relationship Management, Supply Chain Management, Human Capital Management, Financial Management and Application Integration. Today more than 4,900 organizations in 140 countries run on PeopleSoft software. For more information, visit us at www.peoplesoft.com.

Note to Editors: PeopleSoft and the PeopleSoft logo are registered trademarks. All other company and product names may be trademarks of their respective owners.

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