<PAGE>
Exhibit 99
PERITUS SOFTWARE SERVICES, INC.
For Immediate Release
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(R)
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 New
York, Boston, London, and Paris regional offices. For more information, see the
Catalyst web site at http://www.IT-catalyst.com.
This press release may contain certain forward-looking statements, which involve
risks and uncertainties. From time to time, the Company may provide oral and or
written forward-looking statements in other materials it releases to the public.
The Company does not assume any obligation to update any of the forward-looking
statements it makes.
Contact: Ronald C. Garabedian
Vice President and Treasurer
Peritus Software Services, Inc.
Phone: 508-870-0963
Fax: 508-870-0764
E-mail: [email protected]
Peritus is a registered trademark of Peritus Software Services, Inc.
