SCOTT+SCOTT ANNOUNCES THAT IT HAS FILED LAWSUIT AGAINST VERITAS.

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COLCHESTER, Conn., Feb. 3 /PRNewswire-AsiaNet/ -- Scott + Scott, LLC, a Connecticut-based law firm, announces that it commenced a class action in the United States District Court for the Northern District of California, on behalf of purchasers of VERITAS Software Corporation (Nasdaq: VRTS) ("VERITAS" or the "Company") publicly traded securities during the period between January 24, 2001 and January 16, 2003, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court or can be obtained by calling Scott + Scott, LLC at 800/404-7770, e-mailing the firm at (scottlawscott-scott.com) or by going to its website at (http://www.scott- scott.com/news/news.htm). For more information, you can also contact attorney Neil Rothstein at nrothsteinscott-scott.com. If you wish to serve as lead plaintiff and if you bought VERITAS publicly traded securities between January 24, 2001 and January 16, 2003, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than March 24, 2003. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through Scott + Scott, LLC or through counsel of their choice, or may choose to do nothing and remain an absent class member. In order to be appointed lead plaintiff, you must meet certain legal requirements. Please be aware that Scott + Scott, LLC has filed this lawsuit at the request of Shareholders.

The complaint charges VERITAS Software Corporation and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Specifically, the complaint alleges that: (i) the Company lacked sufficient internal controls and therefore was unable to understand its true financial standing; (ii) the Company had improperly accounted its ...