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[July 25, 2003]

Hyperion To Acquire Brio Software

Hyperion has signed a definitive agreement to acquire Brio Software. By adding Brio’s easy-to-use query and reporting capabilities to the Hyperion platform, the acquisition will extend Hyperion’s leadership as a worldwide provider of Business performance management software.

Under the terms of the agreement, Brio shareholders will receive a combination of 0.109 of a share of Hyperion common stock and $0.363 for each share of Brio common stock. Brio shareholders will own approximately 10.5 percent of Hyperion after the completion of the transaction. The transaction has been approved by the boards of directors of both companies and is subject to customary closing conditions, including the approval of Brio’s stockholders and regulatory approvals. It is expected to close in the fourth calendar quarter.

“The planned acquisition of Brio will advance our strategy of being the essential resource for companies committed to breakthrough performance everywhere,” said Jeff Rodek, chairman and CEO of Hyperion. “With Brio, we will gain one of the most innovative and pioneering companies in business intelligence, and our customers will gain integrated query, reporting and analysis tools that are renowned for their ease-of-use, quick deployment, scalability and remarkable power.”

“Brio has been a technology partner since 1996,” said Rodek. “We have seen first-hand the steady progress they have made with their products. With Brio, we will be able to deliver a complete solution for Business Performance Management that unites strategic and day-to-day decision making to achieve performance accountability across all business functions and at all levels from the boardroom to the front lines. We believe this transaction will be a significant win for stockholders, customers, partners, and employees as we advance the power and reach of our Business Performance Management solutions into every department -- and to tens of thousands of users -- throughout the enterprise.”

“Brio and Hyperion share a passion for helping customers achieve breakthrough business performance,” said Craig Brennan, president and CEO of Brio. “This combination creates the greatest on-going value for Brio customers, by ensuring continued enhancement, support, and, ultimately, integration of Brio’s products into the industry’s leading Business Performance Management platform. We are thrilled at the prospect of becoming part of the Hyperion team and expect that our shared vision will benefit both existing and new customers.”

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