PeopleSoft Announces Preliminary First Quarter Earnings Results


    PLEASANTON, Calif.--(BUSINESS WIRE)--April 3, 2003--PeopleSoft
Inc. (Nasdaq:PSFT) today announced preliminary financial results for
the quarter ended March 31, 2003. Based on preliminary information,
total revenues for the quarter are expected to be $450-$455 million.
Total revenues consist of license revenue of $80-$85 million and
services revenue of $370-$375 million. Earnings per share are expected
to be $0.11-$0.12.
    "Obviously the environment for capital spending worsened in Q1
with added concerns about the war and its impact on the already
weakened economy. The result was delays in corporate purchasing
worldwide," said Craig A. Conway, PeopleSoft president and CEO. "While
we look forward to a return to normal spending, we expect our strong
services performance combined with focused expense management will
allow us to continue to report solid bottom line results."
    PeopleSoft will announce its final first quarter financial results
on April 22, 2003, at which time additional commentary will be
provided.

    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
5,000 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.

    Statements made in this press release that state the Company's or
management's intentions, beliefs, expectations, or predictions for the
future are forward-looking statements. Readers are cautioned that
these statements are only predictions and may differ materially from
actual future events or results. The specific forward-looking
statements relate to such matters as the Company's competitive
position and its market acceptance of existing products and services,
and its projected financial performance. Such forward-looking
statements are subject to a number of risks, assumptions and
uncertainties that could cause the Company's actual results to differ
materially from those projected in such forward-looking statements.
These risks, assumptions and uncertainties include: economic and
political conditions in the U.S. and abroad; the ability to complete
and deliver products and services within currently estimated time
frames and budgets; the ability to control costs; the ability to
achieve revenues from products and services that are under
development; competitive and pricing pressures; and other risks
referenced from time to time in the Company's filings with the
Securities and Exchange Commission. Please refer to the Company's
current annual report to shareholders on Form 10-K for more
information on the risk factors that could cause actual results to
differ.


    CONTACT: PeopleSoft Inc.
             Lori Varlas, 877/528-7413 (Investor Relations)
             lori_varlas@peoplesoft.com
             Kara Wilson, 925/694-4046 (Corporate Communications)
             925/408-2249 (cell)
             kara_wilson@peoplesoft.com