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1845 Walnut Street, Suite 1100, Philadelphia, PA 19103
ph: 215-732-6067   fax: 215-732-8060
email mdonovan@donovansearles.com

PeopleSoft, Inc., Duffield and Codd named in Securities Class Action filed on behalf of PeopleSoft Stock Purchasers by Donovan Searles, LLC

Philadelphia, May 3, 1999 - A class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of purchasers of PeopleSoft, Inc. (NASDAQ - PSFT) common stock from February 4, 1997 through January 28, 1999, inclusive (the Class Period).

The Complaint alleges that, during the Class Period, PeopleSoft and certain of its officers and directors (collectively, the Defendants) violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, by among other things, issuing materially false and misleading statements to the investing public regarding PeopleSoft’s financial results for 1996 through 1998.

Plaintiff is represented by the law firm of Donovan Searles, LLC and others. The members of Donovan Searles, LLC have significant experience in litigating class actions on behalf of investors and shareholders.

If you are a member of the class described above, you may move the court to serve as lead plaintiff within 60 days of January 29, 1999. If you wish to discuss this action or any other securities we are investigating, or have any questions concerning your rights, please contact Michael D. Donovan at Donovan Searles, LLC, 1845 Walnut Street, Suite 1100, Philadelphia, PA 19103; phone: (800) 619-1677 or (215) 732-6067; e-mail: mdonovan@donovansearles.com, or by clicking here.

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