RETK Retek (MM)

Oracle Affirms Its Commitment To Retek Customers Oracle Combination Provides Superior Strategic Fit For Customers REDWOOD SHORES, Calif., March 9 /PRNewswire-FirstCall/ -- Following Oracle Corporation's (NASDAQ:ORCL) announcement yesterday of a $9 per share offer for Retek Inc. (NASDAQ:RETK), Oracle President Charles Phillips said in an "Open Letter to Retek Customers" delivered today that the combination of Oracle and Retek will provide deeper and broader solutions for the companies' shared customer base. (Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO ) "There can be little debate that an Oracle combination is far more compelling for Retek customers," Phillips said. "Together we bring the growing resources and expertise required by the evolving retail market. Because there is no overlap between Oracle and Retek products, Retek customers will experience far more continuity with an Oracle combination. We have a clear product roadmap and a well thought through integration plan." Oracle and Retek's relationship began in 1986. Retek's products have been engineered and optimized for the Oracle platform, using Oracle's development tools and industry leading database. Now, more than 80 percent of Retek customers run Retek products on Oracle technology. Oracle and Retek's application strategies continue to be aligned with strong commitments to Java and open standards. In the letter, Phillips said Oracle was committed to working with Retek to better serve the companies' combined customer base with improved technology, service and R&D investment. A copy of the letter is included below. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE SOLICITATION AND THE OFFER TO BUY RETEK'S COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS THAT ORACLE CORPORATION INTENDS TO FILE ON MARCH 9, 2005. STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. STOCKHOLDERS WILL BE ABLE TO OBTAIN THE OFFER TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE TENDER OFFER FREE AT THE SEC'S WEBSITE AT WWW.SEC.GOV OR FROM ORACLE CORPORATION. Open Letter to Retek Customers and Partners March 9, 2005 Retek Customers and Partners: Yesterday, Oracle announced a tender offer for all of the outstanding shares of Retek. Having been engaged in due diligence with Retek since October 2004, we firmly believe our combination represents the best outcome for you, the customer. I have personally spent time with Retek's management team and customers and am convinced the combination of Retek and Oracle will significantly advance our strategy to better serve retailers of all sizes in all geographies. We understand how quickly your industry is moving, driven by consolidation and competition, and amid the host of changes underway, we remain firmly committed to the retail industry. Oracle and Retek's relationship began in 1986. Retek's products have been engineered and optimized for the Oracle platform, using Oracle's development tools and industry-leading database. Now, approximately 80% of Retek customers run their solutions on Oracle technology. Moreover, both companies' applications strategies are aligned, with strong commitments to Java and open standards. The combination of Retek and Oracle will produce a number of benefits to you: -- First, there is no product overlap between Retek and Oracle. We intend to increase the investment in the Retek solutions to accelerate the value of these products to your company. -- Second, you will have a clear product roadmap on Oracle-Retek technology with a shared vision for the future. -- Third, Oracle will continue to support relationships with Retek's existing partners to accelerate time to value for our mutual customers. However, these benefits do not capture the full value of an Oracle and Retek combination. The increased scale in R&D and the first truly integrated application/infrastructure platform in retail will accelerate innovation in your industry, while reducing cost and complexity. As always, our primary goal is 100% customer satisfaction. We are dedicated to maintaining and increasing the quality of innovation, support and service you have come to expect from Oracle and Retek without interruption. We look forward to strengthening our relationship with you. Sincerely, Charles Phillips President THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE SOLICITATION AND THE OFFER TO BUY RETEK'S COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS THAT ORACLE CORPORATION INTENDS TO FILE ON MARCH 9, 2005. STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. STOCKHOLDERS WILL BE ABLE TO OBTAIN THE OFFER TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE TENDER OFFER FREE AT THE SEC'S WEBSITE AT WWW.SEC.GOV OR FROM ORACLE CORPORATION. http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO http://photoarchive.ap.org/ DATASOURCE: Oracle Corporation CONTACT: Jenny Gelhausen, Director, Investor Relations, +1-650-506-8057, or Jeff Lettes, Vice President, Corporate Communications, +1-650-506-9564, both of Oracle Web site: http://www.oracle.com/

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