PEREGRINE SYSTEMS INC
424B3, 1998-01-29
PREPACKAGED SOFTWARE
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                                                  FILED PURSUANT TO RULE 424(B)3
                                       REGISTRATION STATEMENT FILE NO. 333-39891
 
PROSPECTUS SUPPLEMENT DATED JANUARY 29, 1998
(To Prospectus dated November 21, 1997)
 
                            ------------------------
 
                                     [LOGO]
 
                        1,301,419 Shares of Common Stock
 
                            ------------------------
 
    This Prospectus Supplement, together with the Prospectus, is to be used by
certain holders of the above-referenced securities or by their nominees,
transferees, pledgees, donees or successors in connection with the offer and
sale of the above-referenced securities. Unless otherwise specified herein,
capitalized terms shall have the meanings ascribed to them in the Prospectus.
 
    The section entitled "Management" beginning on page 35 of the Prospectus is
hereby amended to reflect the following additions and changes:
 
           On January 20, 1997, Alan H. Hunt resigned as President, Chief
       Executive Officer a director of the Company. Stephen Gardner was
       promoted to Executive Vice President from his position as the
       Company's Vice President, Strategic Acquisitions, and assumed the
       role of acting Chief Executive Officer. In addition, Douglas F.
       Garn resigned as Vice President, North American Sales. Douglas S.
       Powanda, was promoted to Vice President, Worldwide Sales from his
       position as the Company's Vice President, International Sales, and
       Frederic B. Luddy was appointed Vice President, North American
       Research and Development, and Chief Technology Officer. See Mr.
       Luddy's biographical description below.
 
           FREDERIC B. LUDDY has served as the Company's Vice President,
       North American Research and Development, and Chief Technology
       Officer since January 1998. Mr. Luddy has been with the Company
       since April 1990 serving as Chief Architect for SERVICECENTER from
       October 1995 until January 1998 and as a Product Author prior to
       that time.
 
    The section entitled "Principal and Selling Stockholders" beginning on page
47 of the Prospectus is hereby amended to reflect the following additions and
changes:
 
       The number of shares of Common Stock beneficially owned by the
       Company's current executive officers and directors as a group
       (taking into consideration the resignations of Messrs. Hunt and
       Garn and the appointment of Mr. Luddy described above) is
       11,140,576 shares or approximately 66.3% of the outstanding shares
       of the Company as of September 30, 1997. Such share figure
       includes 710,022 shares of Common Stock issuable upon exercise of
       outstanding stock options which were exercisable or became
       exercisable within 60 days of September 30, 1997.


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