Golden Gate Capital to buy SCT’s Process Manufacturing Software Division

Investors Name Jim Schaper CEO, Retain Existing Management Team and Employees

SAN FRANCISCO, CA (April 11, 2002) – Golden Gate Capital announced today the signing of a definitive agreement with SCT Corporation (Nasdaq: SCTC) to acquire the process manufacturing software business of SCT. Golden Gate Capital, which has appointed Jim Schaper, a 25-year software industry veteran, to be the CEO of the newly independent company, will retain the existing management team and division staff. Joining Golden Gate Capital on this deal was Parallax Capital Partners, a private investment firm. The consummation of the transaction is subject to customary closing conditions and required approvals.

“Our investment will provide the capital necessary to strengthen the company’s balance sheet and to further enhance the technology and functionality of its software products, which are currently used by more than 200 of the leading process manufacturing companies,” said David Dominik, a managing director of Golden Gate Capital. “In addition, strong senior leadership and committed investors will enable the company to augment its product offerings, better service its customers and extend its technology leadership within the process manufacturing software market.”

The company will continue to build upon its integrated suite of software solutions that address the unique needs of the process manufacturing industry, including supply chain management, supply chain execution and other ERP applications such as forecasting, inventory management, procurement, formula and process management, and customer order management.

“The process manufacturing and consumer packaged goods target markets, comprised of more than 8,000 manufacturers, are under-served by traditional ERP vendors who designed their products for discrete manufacturing,” said Mr. Schaper, the newly named CEO. “Manufacturing spans the continuum from discrete to pure process — ‘discrete’ companies assemble and fabricate, whereas ‘process’ companies mix, blend, chemically react and disassemble. Without our solution set, process manufacturers would have to spend enormous amounts of time, money and energy to adapt their ERP and supply chain systems to suit their specific business needs.”

Mr. Schaper was previously the president and CEO of Dun & Bradstreet Software and was most recently the chairman and CEO of Primis, a financial services company, which was sold to LandAmerica Financial Services Corp. (NYSE: LFG). Mr. Schaper has also held senior management positions with Banyan Systems and Medaphis Corporation (now Per-se Technologies). Mr. Schaper, who first worked with Golden Gate Capital’s managing directors in 1996 while at Dun & Bradstreet, has subsequently advised the partners on several buyout opportunities.

“Parallax and Golden Gate are committed to dedicating the appropriate financial and strategic resources necessary to grow the business and better serve customers,” said James Hale, managing partner of Parallax Capital. “We expect to gain market share in all sectors of the process manufacturing software business, including food, beverage, pharmaceuticals, chemicals and CPG.”

Customers of the company’s “iProcess” business solution are leading manufacturers, including Godiva, Horizon Organic, Valvoline, Bristol-Myers Squibb/Mead Johnson, Coca Cola Fountain USA, Eastman Kodak, Miller Brewing Company, Molson, GlaxoSmithKline, The Kroger Company and Safeway.

About Golden Gate Capital

Golden Gate Capital 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, including leveraged buyouts, and recapitalizations, corporate divestitures and spin-offs, build-ups and venture-stage investing. 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.