PeopleSoft Announces 2004 Annual Meeting Date; Nominates Four Directors for Re-Election.

Business Editors/High-Tech Writers

PLEASANTON, Calif.--(BUSINESS WIRE)--Jan. 30, 2004

PeopleSoft, Inc. (Nasdaq:PSFT) today announced that the Company will hold its Annual Meeting of Stockholders on March 25, 2004. Stockholders of record as of the close of business on February 10, 2004 will be eligible to vote at the meeting.

PeopleSoft President and Chief Executive Officer Craig Conway said, "The PeopleSoft Board unanimously voted to hold its annual meeting on March 25th so that we could put Oracle's apparent efforts to interfere with our business behind us as soon as possible. We firmly believe that Oracle is trying to deny PeopleSoft stockholders the real value of this company. PeopleSoft has fought through three quarters of what we believe is Oracle's attempt to disrupt our business and has delivered solid financial results. Think about the additional value we can create once our stockholders reject Oracle and our sales force is unfettered.

"We believe that there is a substantial likelihood that Oracle's bid will be blocked by antitrust authorities and we look forward to their prompt decision. At the same time, we believe it is important to give PeopleSoft stockholders an opportunity to bring Oracle's efforts to disrupt our business to an end by voting in favor of the Board's nominees and rejecting Oracle's nominees," Conway added.

PeopleSoft's Board also announced that four existing directors have been nominated to serve as Class II Directors until the 2006 Annual Meeting. They are: A. George "Skip" Battle, Craig A. Conway, Frank J. Fanzilli, Jr., and Cyril J. Yansouni. Biographies of the director nominees are below.

A. George "Skip" Battle, 60, became a director of PeopleSoft in December 1995. Mr. Battle has served on the Board of Directors of Ask Jeeves, Inc. a publicly-traded internet search engine company, since December 2000, currently serving as Executive Chairman. He served as its Chief Executive Officer from December 2000 through December 2003. He is currently a Senior Fellow at the Aspen Institute, an international research firm. From 1968 until his retirement in June 1995, Mr. Battle served in various roles of increasing responsibility with Andersen Consulting. At the time of his retirement, Mr. Battle was Managing Partner of Market Development and was serving as a member of Andersen Consulting's Executive Committee, Global Management Council and Partner Income Committee. Mr. Battle holds a B.A. degree in economics with highest distinction from Dartmouth College and an M.B.A. degree from the Stanford Business School where he held McCarthy and University Fellowships. Mr. Battle is also the Chairman of the Board of Directors of Fair Isaac Corporation and a director of Barra, Inc., and a director of the following mutual funds: Masters' Select Equity, Masters' Select Value, Masters' Select Smaller Companies and Masters' Select International.