Peregrine Systems Becomes Title Sponsor of U.S. Track & Field Open at Stanford University

STANFORD, Calif., May 23, 2001 -- Peregrine Systems, Inc. (NASDAQ: PRGN), one of the world's leading software companies, today announced its title sponsorship of the U.S. Track & Field Open, scheduled for June 9 at Stanford University. The Peregrine Systems U.S. Open is the third stop on the USATF (U.S.A. Track & Field) Golden Spike Tour and will be nationally televised on CBS on June 10 at 2:00 p.m. PDT.

Marion Jones, Terrence Trammell, Shawn Crawford, other Olympians and record-holders from at least 15 countries will be vying for Grand Prix points at the Peregrine Systems U.S. Open, which is one of only two I.A.A.F. (International Amateur Athletic Foundation) Grand Prix I event in the United States.

'We are delighted to sponsor the Peregrine Systems U.S. Open,' said Thomas Smith, Peregrine senior vice president of global marketing. 'Our sponsorship not only recognizes the importance of track and field in the world sports community, but also the commitments of these athletes, many of international caliber. In addition, our sponsorship also reflects Peregrine's new brand initiative, bringing frictionless business to organizations around the world.'

Headquartered in San Diego, Peregrine is a global technology company that helps organizations achieve a state of frictionless business - in which friction points between people and technology are minimized -- with its Infrastructure Management, Employee Relationship Management and B2B Relationship Management software solutions. Peregrine's customers include 92 percent of the Fortune 500 companies. Since its IPO in 1997, Peregrine has grown from $35 million in revenue to $565 million in fiscal year 2001.

'We are thrilled that Peregrine has become the title sponsor of this world-class meet,' said Nancy Ditz, executive director of the Peregrine Systems U.S. Open. 'Our goal is to provide the best possible track & field meet for these world-class athletes, and Peregrine is the ideal partner to help us achieve that goal.'

The June 9 meet at Stanford's Cobb Track & Angell Field will include an appearance by Marion Jones, who won three gold medals and two bronze medals at the 2000 Sydney Olympics. Jones will be the featured performer in the women's 200 meters. The appearance by Jones at Stanford will be one of six major meets for the Olympian in the United States during the 2001 outdoor season. Additionally, there will be a selection of Olympic Development events to provide athletes with an opportunity to qualify for the U.S.A. National Championships or I.A.A.F. World Championships.

'Marion Jones is a great ambassador for our sport, and we are thrilled that she has chosen to support track and field in the United States by appearing in some of the best meets in the country,' said USATF CEO Craig Masback. 'To have Marion competing on her home soil with such frequency is an enormous accomplishment for the sport of track and field. Any time she steps on a track, it helps increase America's interest in track and field.'

Also competing is Trammell, who won the silver medal in the men's 110 meter high hurdles in Sydney, while Crawford captured the men's 200 meters at the 2001 World Indoor Championships. A recent addition to the field is Lithuania's Virgilijus Alekna, the Olympic gold medal winner in the discus in Sydney. Also entered in the meet are all three U.S. Olympians in the shot put: Adam Nelson, John Godina and Andy Bloom.

Tickets for the Peregrine Systems U.S. Open are $25 and $10 and are available through www.gostanford.com or by calling (800) gostanford.

Peregrine Systems U.S. Open Schedule (June 9)
2:00 p.m. - Women's Hammer
5:30 p.m. - Women's Pole Vault
5:50 p.m. - Men's Shot Put
5:55 p.m. - Women's High Jump
6:05 p.m. - Men's 110 Meter Hurdles
6:10 p.m. - Men's Long Jump
6:15 p.m. - Men's 800 Meters
6:20 p.m. - Men's Discus
6:25 p.m. - Women's 400 Meter Hurdles
6:35 p.m. - Men's 200 Meters
6:45 p.m. - Women's 200 Meters
6:55 p.m. - Men's 3,000 Meters
7:10 p.m. - Women's Mile
7:15 p.m. - Men's Pole Vault
7:20 p.m. - Men's 3,000 Meter Steeplechase
7:35 p.m. - Men's Mile

Olympic Development Events
8:00 p.m. - Men's 1,500 Meters
8:10 p.m. - Women's 1,500 Meters
8:20 p.m. - Women's 800 Meters
8:30 p.m. - Men's 800 Meters
8:40 p.m. - Women's 5,000 Meters or Women's 3,000 Meters
9:00 p.m. - Men's 5,000 Meters

About Peregrine
Founded in 1981, Peregrine has matured into one of the largest software companies worldwide. Peregrine supports companies with solutions that remove friction points in managing infrastructure assets, empowering employees and enabling collaborative electronic commerce. Peregrine's Infrastructure Management Group (IMG) provides solutions to manage the entire life cycle of an organization's assets, from IT equipment and fleets of vehicles to a company's intangible knowledge assets. Peregrine's Employee Relationship Management solutions give employees real-time tools to secure knowledge, services and resources from a portal accessed at a desktop computer or an array of mobile devices. Peregrine's E-Markets Group (EMG) takes to market a digital business offering that provides a full range of software products and managed Internet services using Peregrine's Get2ConnectSM global trading network. Peregrine EMG processes nearly 1.2 million e-Commerce transactions every business day and annually transacts $280 billion. Peregrine is headquartered in San Diego, California and has offices throughout the world. For more information on Peregrine, visit http://www.peregrine.com.

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Peregrine Systems is a registered trademark and Get2Connect is a service mark of Peregrine Systems, Inc. All other trademarks are the property of their respective owners.

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