Peregrine/Remedy Merger Waiting Period Ended

Peregrine Systems Inc. and Remedy Corporation announced that the Department of Justice and the Federal Trade Commission have granted early termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, as amended, for Peregrine's planned acquisition of Remedy. Early termination of the HSR waiting period ends the U.S. government's antitrust review of the transaction.

Peregrine and Remedy announced a definitive agreement on June 11, 2001 under which Peregrine agreed to acquire Remedy for a combination of cash and shares of Peregrine stock. The acquisition is expected to close in the third calendar quarter, subject to the approval of Remedy's stockholders at a special meeting expected to be held in late August, foreign regulatory review and compliance with other closing conditions contained in the definitive merger agreement.

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