Golden Gate Capital acquires Supply Chain Enablement Division from Peregrine Systems, Inc.

SAN FRANCISCO, CA (June 27, 2002) – Golden Gate Capital announced today it has closed on the acquisition of the Supply Chain Enablement (SCE) division of Peregrine Systems Inc. The newly formed private company will retain the existing management team and staff, with Dave Williams, a 19-year software industry veteran and the current General Manager, continuing to lead the company as President and CEO. Joining Golden Gate Capital in the transaction are Cerberus Capital Management and Parallax Capital Partners.

The SCE division, which consists of the former Harbinger Corp. and certain assets and intellectual property rights from Peregrine’s acquisition of Extricity, Inc., provides data transformation software (EDI and XML) and business process integration solutions to over 20,000 customers globally, including delivering access to approximately 90% of the Fortune 500. The division also hosts the global trading community, Get2ConnectSM, which serves more than 40,000 companies and enables over 1.3 million e-Commerce transactions daily.

David Dominik, a Managing Director of Golden Gate Capital stated, “We are both excited and committed to building the company for the long-term. Our investment will provide a solid financial foundation for the business to maintain its market leading position in the EDI market while strengthening its presence in the fast growing B2B integration (B2Bi) and Business Process Management (BPM) segments. In the near term, however, we will be singularly focused on re-engaging and re-building the relationships with our customers, channel partners and vendors as a stand alone entity.”

“Our business has a solid history in the EDI/XML enablement market and is enhanced by our cutting-edge trading partner collaboration software, and our state of the art network and hosting services. It has all the components necessary to not only deliver advanced B2B solutions but to bridge the gap between legacy and emerging technologies”, stated Williams. “We are proud of this deep domain expertise, our tremendous customer base, and our unique ability to deliver an end-to-end solution to enterprises and their extended trading communities.”

About Golden Gate Capital

About the investors Golden Gate Capital (http://www.goldengatecap.com) is a San Francisco-based private equity investment firm with approximately $700 million of capital under management. Golden Gate is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. They target investments of up to $100 million in situations where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate have a long and successful history of investing with management partners across a wide range of industries and transaction types, and in particular, have been very active in the enterprise software market. For more information, visit www.goldengatecap.com.

Parallax Capital Partners

Parallax Capital Partners, LLC (http://www.parallaxcap.com) is a private investment firm that dedicates its resources to the acquisition and management of technology related businesses. Parallax focuses on companies that generate revenues of between $10 and $100 million of revenue that require capital to either expand their existing business, make strategic acquisitions, or plan for ownership succession. In the Parallax commitment to building long-term value throughout companies, Parallax has established an extensive operational infrastructure which includes an active data center, functions such as accounting and finance, worldwide sales and marketing, research and development, customer support and human resources. Together, Parallax and its partners have participated in over 200 transactions ranging in size from $5 million to over $1 billion.

Cerberus Capital Management

Cerberus Capital Management, LP is a special situations investment firm, with over $8.5 billion under management.