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IBM Technologies Provide Critical e-Business Platform for Callidus Software's Industry-Leading Suite of Pay-For-Performance Applications

Bracknell, Berkshire, April 12, 2002 - Callidus Software, the trusted provider of Enterprise Incentive Management (EIM) solutions for enterprise customers, today announced an agreement with IBM to deliver comprehensive enterprise incentive management solutions to global 1000 financial services companies. Through this agreement, Callidus Software's industry-leading applications will be combined with IBM's service capabilities, hardware, and middleware to deliver competitive, cost-effective and scalable enterprise incentive management solutions to the financial services market.



Financial institutions around the globe are struggling to improve the effectiveness of their distribution models. As more products are being distributed through more channels, the need for cooperation across those channels, product groups, and business units has become a critical success factor. The combined IBM and Callidus Software incentive management solutions help enable financial institutions to align sales behavior across all channels with corporate goals. With the IBM and Callidus incentive management solution, financial institutions can coordinate and incent the distribution of products and services across multiple channels to market.



Under the terms of the agreement, the two companies will jointly market and sell Callidus Software's TrueComp and TrueChannel applications as part of IBM's CRM solution in Financial Services -- running on IBM's eServer pSeries hardware platform on AIX, DB2 Universal Database.



"IBM's relationship with Callidus Software provides financial institutions with an effective way to deploy more products and more efficiency through more channels by broadly aligning the entire organization through effective pay-for-performance incentives," said Mark Greene, general manager of global banking for IBM. "EIM applications represent a powerful new enterprise-wide tool to enhance both top-line revenue and bottom-line profitability for financial institutions, by motivating improved sales performance and capturing greater mind-share of their distribution partners. Callidus Software's leading EIM applications combined with IBM's middleware, consulting and integration services provides a robust, flexible and scalable solution to the market."



"IBM consistently develops innovative technologies that power key businesses initiatives across the enterprise, technologies that our customers trust and depend upon," said Reed Taussig, president and chief executive officer, Callidus Software. "By enabling financial institutions to provide appropriate incentives for changing environments, our joint offering delivers a consistent management device that broadly aligns the organization towards executing its strategic objectives and driving profit. Callidus currently works with some of the world's leading financial institutions such as Chase Bank, Credit Suisse Group, and Morgan Stanley Dean Witter and our relationship with IBM will further our leadership position in the financial services market."



About Callidus Software Inc.

Callidus Software http://www.CallidusSoftware.com, the leading provider of enterprise incentive management (EIM) solutions, boosts business results through effective pay-for-performance programs. Callidus Software’s EIM software automates incentive programs inside and outside the company. TrueComp automates modeling, administration, reporting and analysis of variable compensation tied directly to sales results ranging from sales commissions to payments to dealers, distributors, and retailers. TrueChannel similarly automates trade channel promotions programs, which are paid incentives to distribution partners. Callidus Software’s EIM software provides precision, trust and understanding to successfully reward revenue-boosting behavior and optimize profitability drivers, thus improving business performance.



Callidus Software, founded in 1996, is privately backed by Crescendo Ventures, Crosspoint Venture Partners, Invesco Private Capital, ONSET Ventures, Goldman Sachs Group and Transamerica Technology Finance. Customers/Partners include Airborne Express, Inc., The Alexander Group, Credit Suisse Group, DIRECTV, Dun & Bradstreet, Electronic Data Systems Corporation, Juniper Networks, Inc., PricewaterhouseCoopers, Accenture LTD., AOL Time Warner Corporation, Pennzoil-Quaker State Company, Sun Microsystems, Telstra, Towers Perrin and Veritas, Inc.





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Callidus Software, TrueComp, and the Callidus Software logo are registered trademarks and TrueComp Manager, TrueComp Modeler, TrueComp Viewer, TrueChannel, TruePerformance, TrueIntegration, and TrueService are trademarks of Callidus Software, Inc. in the United States and other countries. All other brand or product names are trademarks or registered trademarks of their respective companies or organizations.





Contact:


Callidus Software Ltd,
David Blume,
+44 (0) 1344 666029,
dblume@callidussoftware.com



Wendy Marshall,
PR Consultant,
+44 (0) 20 8560 1437,
wm@wendym.demon.co.uk

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