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Andrew Smith

Object Marketing

Tel: (020) 8762 9292


…License Revenues Increase 11%, Earnings Per Share Nearly Double
Over Same Period Last Year…

SUNNYVALE, Calif., January 23, 2003 – Hyperion (Nasdaq: HYSL), the global leader in business performance management software, today announced financial results for its second quarter of fiscal 2003 ended December 31, 2002.

Total revenues for the quarter increased six percent to $126.0 million, compared to $118.9 million for the same quarter a year ago. Software license revenue increased 11 percent to $51.1 million, compared to $46.2 million for the same period a year ago. Maintenance and services revenue increased three percent to $74.9 million, compared to $72.7 million for the same period a year ago.

The company reported net income of $7.6 million or $0.21 per diluted share for the quarter, compared to net income of $3.7 million or $0.11 per diluted share for the second quarter of fiscal 2002.

Hyperion continued to strengthen its balance sheet during the quarter, increasing cash and repurchasing debt. The company had $302.2 million in cash and short-term investments, net of $50.0 million of long-term debt, at December 31, 2002, compared to $210.1 million in cash and short-term investments, net of $90.9 million of long-term debt, at December 31, 2001. Cash flow from operations for the quarter was $14.5 million.

“We are very pleased to deliver strong license revenue growth and overall improved financial performance,” said Jeff Rodek, Hyperion’s chairman and chief executive officer. “Both new and existing customers are responding well to our business performance management offerings. In addition, we continue to make year-over-year progress on our four key financial metrics. License revenue as a percentage of total revenue increased to approximately 41 percent in the December 2002 quarter. License revenue booked through our indirect channel grew to 27 percent of total license revenue, up from 24 percent last year and edging toward our target of 33 percent. We significantly improved our profitability, both on a quarter-over-quarter basis and for the fiscal year to date, having more than tripled our operating margins to ten percent for the combined first two quarters of fiscal 2003. Days sales outstanding were 62 days at December 31, 2002, well below our target range of 75 to 85.

“Major companies throughout the world are selecting our business performance management solutions to obtain incredible insight into their financial and operational performance, anytime, anywhere,” continued Mr. Rodek. “Our mission is to define and lead the business performance management category with our suite-based applications and our integrating platform. Clearly, our strong financial results attest to our continued momentum as the business performance management market leader.”

Other Recent Developments

Significant company developments include:

Major customer wins at Allmerica Financial, Booz Allen Hamilton, Fifth Third Bank, Gillette Company, Gulf States Paper Corporation, HCA, Metsäliitto Corporation, Nissan North America, Pearson, Thyssen Krupp, TRW, and Verizon.

New releases of Hyperion Planning and Hyperion Financial Management, with enhanced usability, interoperability, functionality, and scalability.

About Hyperion

Hyperion, the global leader in business performance management software, creates solutions that help companies measure performance and drive profitability. Hyperion's Business Performance Management Suite of packaged and tailored applications and its open, integrating business intelligence platform, Hyperion Essbase XTD, enable companies to set goals, model and plan performance, monitor and report key results, analyze underlying business drivers and anticipate future performance of core business activities. Hyperion products are used by more than 6,000 customers around the world to enable financial, organizational, customer relationship, supply chain and channel performance management. Hyperion has a network of more than 330 partners to provide innovative and specialized business performance management solutions and services. Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $492 million in fiscal 2002. The company employs more than 2,200 people in 20 countries and is represented in 16 additional countries through distributor relationships. Hyperion is traded under the Nasdaq symbol HYSL.

For more information, please visit


or call 01784 228015.

Safe Harbor Statement

Statements in this press release other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the company's expected increase in selling opportunities, future financial performance and results of operations. Such statements constitute anticipated outcomes and do not assure results. Actual results may differ materially from those anticipated by the forward-looking statements due to a variety of factors including, but not limited to, changes in general economic conditions, competition and uncertain market acceptance of new products. For a more detailed discussion of factors that could affect the company's performance and cause actual results to differ materially from those anticipated in the forward-looking statements, interested parties should review the company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K filed on September 25, 2002, and the Quarterly Report o!
n Form 10-Q filed on November 12, 2002. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

Hyperion, Hyperion Planning, Hyperion Financial Management, Hyperion Business Performance Management Suite, and Essbase XTD are registered trademarks and Hyperion Solutions is a trademark of Hyperion Solutions Corporation. All other trademarks and company names mentioned are the property of their respective owners.

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