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Peritus Merges with Rocket Software

Peritus Software Services, Inc. today announces that it has completed the merger with Rocket Acquisiton Company, Inc.

WESTBOROUGH, Mass., June 29 2001 /PR/Newswire/--Peritus Software Services, Inc. announced today that it has completed its merger with Rocket Acquisition Company, Inc. pursuant to the Agreement and Plan of Merger dated as of April 18, 2001 among Peritus, Rocket Acquisition Company and Rocket Software, Inc. Peritus had previously announced on April 18, 2001 that it had entered into the Agreement and Plan of Merger. Peritus is a provider of solutions for software maintenance technology and services. Rocket Acquisition Company is an indirect subsidiary of Rocket Software.

Pursuant to the Agreement and Plan of Merger, Peritus stockholders other than Rocket Acquisition Company and Rocket Software are entitled to be paid $19 per share in cash in exchange for their Peritus shares. The exchange agent for Peritus will mail notices to the Peritus stockholders regarding the completion of the merger and including instructions for the stockholders to obtain payment of the merger consideration to which they are entitled. No interest or dividends will accrue or be payable on the merger consideration. Accordingly, the Peritus stockholders should respond promptly to the notice from Peritus' exchange agent.

About Peritus®

Founded in 1991, Peritus Software Services, Inc. offers products and services that enable organizations to improve the productivity, effectiveness and quality of the software evolution process. The Peritus Software Asset Maintenance (SAM) offerings enable organisations to transform the maintenance process into an efficient, cost-effective discipline that boosts productivity and performance. Peritus is now headquartered in Natick, MA. Peritus is a registered trademark of Peritus Software Services, Inc.

About Rocket

Founded in 1990, Rocket Software, Inc. is a software engineering organisation providing enterprise class software products and services. Rocket is headquartered in Natick, MA.

Peritus Software Services, Inc. announces it has retained The Catalyst Group

Westborough, MA. - October 16, 2000 - Peritus Software Services, Inc. (OTC: PTUS.OB), a provider of solutions for software maintenance technology and services, today announced that the Company has retained The Catalyst Group, LLC to render financial advisory and investment banking services in connection with exploring strategic alternatives including the potential sale of the Company.

About Peritus®

Founded in 1991, Peritus Software Services, Inc. offers products and services that enable organizations to improve the productivity, effectiveness and quality of the software evolution process. The Peritus Software Asset Maintenance (SAM) offerings enable organizations to transform the maintenance process into an efficient, cost-effective discipline that boosts productivity and performance. Peritus is headquartered in Westborough, MA.

For more information, see the Peritus web site at http://www.peritus.com.

About The Catalyst Group

The Catalyst Group provides international strategic investment banking and corporate development services to Information Technology, Internet, Telecommunications, and e-Business companies. Catalyst operates from its Boston, London, Düsseldorf and Paris regional offices.

For more information, see the Catalyst web site at http://www.it-catalyst.com.