Oracle Completes Acquisition Of Siebel

[rjames]

REDWOOD SHORES, Calif., 31-JAN-2006 Oracle Corporation announced today the completion of its acquisition of Siebel Systems, Inc.

"Oracle is now the undisputed leader in Customer Relationship Management software," said Oracle CEO Larry Ellison. "Oracle's focus on modern, standards-based applications and middleware is moving us into a leadership position in applications and on-demand services. Siebel accelerates that move."

"Siebel's expertise with industry-specific customer-facing applications combined with rich analytics will not only serve as the centerpiece of our CRM strategy for Oracle Fusion Applications, but can also be used to extend our current customers investments today," said Oracle President Charles Phillips.

Former Siebel stockholders electing to receive Oracle common stock will receive a combination of stock and cash because the stock portion of the consideration was oversubscribed. The pro rata allocation of cash and stock payable to the electing holders will be announced following receipt of the final election results, which are expected to be available on or about February 2, 2006. Former Siebel stockholders not electing to receive Oracle common stock will receive $10.66 per share in cash. Oracle intends to repurchase shares in the marketplace equal to the amount issued effectively making it a cash transaction.

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