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Pegasystems’ New Credit Card Management Applications Make ‘One-and-Done’ Processing a Reality

PegaCARD Customer Process Manager and PegaCARD Smart Dispute Cut Costs And Improve Customer Relations with Rule-driven Business Process Management

CAMBRIDGE, Mass., Sept. 21, 2004 – Pegasystems Inc. (NASDAQ: PEGA), a leading provider of smart, rules-based business process management (BPM) software, today announced the release of PegaCARD Customer Process Manager™ and PegaCARD Smart Dispute™, card management applications that cut overhead costs and improve customer satisfaction by eliminating long waits to resolve simple procedures such as a lost card or charge dispute.

Customer Process Manager and Smart Dispute are the only card management applications that completely automate customer-facing processes from the point of contact through to resolution. Traditional card management applications address the needs of the customer service representative (CSR) and the back office separately. CSRs don’t have the resources they need to fulfill service requests, and back-office staff re-enter customer data into their own systems. This two-tiered system is expensive for the card issuer and frustrating for the customer, who may be forced to wait several weeks to get their issue resolved. By linking CSRs with the back-end systems through Smart Dispute and Customer Process Manager, companies can resolve issues while the customer is on the phone rather than issuing a reference number to a case that will be resolved later.

Pegasystems customers such as US Bank have achieved one-and-done processing of their inbound dispute calls by non-specialist front-line agents, according to Gailen Veurink, SVP of Retail Payment Solutions at US Bank. With assets in excess of $189 billion, US Bank is the eighth largest financial services company in the United States. Veurink will be speaking on a panel moderated by Pegasystems at the ABA/Forward Financial Bank Card Conference in Orlando on September 21st, about how US Bank has achieved significant gains in customer satisfaction and productivity.

PegaCARD Customer Process Manager provides a unique intent-driven approach to customer service to help optimise customer interactions, automatically queuing business processes based on an organization's policies, as well as anticipated customer requests. PegaCARD Smart Dispute is Pegasystems’ industry-leading solution for automation of the dispute and chargeback process, helping credit and debit card companies minimise unnecessary write-offs. The application provides issuers with best-practice processes and rules to ensure compliance with complex association dispute rules and regulations.

Build for change with new automation and international capabilities
PegaCARD Customer Process Manager and PegaCARD Smart Dispute are built on Pegasystems’ industry leading Java-based smart BPM platform, PegaRULES Process Commander. They inherit the platform’s unprecedented openness, scalability, ease of management and the ability to ‘build for change,’ – allowing business users to make changes to critical business processes and procedures from their desktops. In addition, both applications add several key new features.

Among Customer Process Manager’s new features are:
· an interface that supports intent-driven processing;
· integrated cross- and up-sell functions;
· workflow templates that guide CSRs through processes and eliminate routine tasks.

Among Smart Dispute’s new features are:
· multi-currency capabilities for international card issuers;
· multi-association capabilities for Visa, MasterCard and third-party issuers;
· a subscription service for automatically updating Visa and MasterCard regulations twice a year.

“Card management that depends on old-school technology is too manual and inefficient to support growth. Even when companies attract new users, the cost of serving them is prohibitive and the waits that customers endure contribute to churn,” said Henry Ancona, Pegasystems’ president and COO. “By releasing Smart Dispute and Customer Process Manager on the PegaRULES Process Commander platform, we’re offering card issuers the tools to sweep away the old way of managing customer relationships, without sweeping away the investment they’ve made in technology systems.”

Pricing and availability
Pegasystems will demonstrate Smart Dispute and Customer Process Manager at the ABA/Forward Financial Bank Card Conference in Orlando, which runs from September 19 to 21. PegaCARD Smart Dispute is available today; PegaCARD Customer Process Manager will be available shortly. Additional information, including pricing, is available from Pegasystems.

About Pegasystems
Pegasystems Inc. (NASDAQ: PEGA) provides rules-based, smart business process management (BPM) software to large organizations, helping to deliver significant ROI and providing them with the flexibility and agility to respond to changing business needs. The company offers applications for the financial services, healthcare, insurance and government markets, as well as a cross-industry BPM application. Pegasystems is headquartered in Cambridge, Mass., and has regional offices in North America, Europe and the Pacific Rim. For more information, visit

For information, contact:

Jeremy Payne
Pegasystems Europe
+44 118 965 1641

Alex Crawshaw
Pirate Communications
+44 (0)20 7760 7050

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Forward-Looking Statements
Certain statements contained in this press release may be construed as “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 including, without limitation, our financial guidance with respect to 2004 revenue, profit before tax, tax rate, earnings per share and cash from operating activities. The words “believe,” “expect,” “hope,” “anticipate,” “plan” and similar expressions, among others, identify forward-looking statements, which speak only as of the date the statement was made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include volatility of our quarterly operating results, difficulty in predicting the completion of product implementations and consequently the timing of our license revenue recognition, the timing of term software license renewals, customer acceptance of our new PegaRULES Process Commander technology, our ability to develop new products and evolve existing ones, the impact on our business of the ongoing consolidation in the financial services market, historically our core market, our ability to attract and retain key employees, reliance on certain key third-party relationships, and other risks and uncertainties. Further information regarding these and other factors, which could cause the Company’s actual results to differ materially from any forward-looking statements contained in this press release, is contained in the Company’s most recent report on form 10-K and other recent filings on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent the Company’s views as of September 21, 2004. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved. Although subsequent events may cause the Company’s view to change, the Company does not undertake and specifically disclaims any obligation to publicly update or revise these forward-looking statements, whether as the result of new information, future events or otherwise. The statements should therefore not be relied upon as representing the Company’s view as of any date subsequent to the date of this release.

NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.

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