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EXHIBIT 99.1
FOR MORE INFORMATION:
INVESTORS: MEDIA:
Heidi Flannery Melinda Bateman
FiComm (for HNC) HNC Software Inc.
503.844.8888, x 111 858.799.3880
HNC SOFTWARE COMPLETES SEPARATION OF RETEK INC.
SAN DIEGO, OCTOBER 2, 2000 -- HNC Software Inc. (Nasdaq: HNCS) announced
today that it has completed the separation of Retek Inc. (Nasdaq: RETK) through
the distribution of all of its 40 million shares of Retek Inc. After the close
of market on September 29, 2000, HNC shareholders were issued 1.243 shares of
Retek Inc. common stock for each share of HNC common stock held. Cash will be
issued in lieu of fractional shares. As a result of HNC's distribution of its
shares of Retek Inc. common stock, Retek is no longer affiliated with HNC.
"Completing the separation of Retek is a significant milestone for HNC,"
said John Mutch, president and CEO of HNC Software. "We can now concentrate the
company's resources on developing the strategic direction of the core business,
leveraging our leadership in predictive analysis and decision management in the
services industries."
ABOUT HNC SOFTWARE INC.
Headquartered in San Diego, California, HNC Software Inc. is a leading
provider of predictive software solutions for service industries, including
financial, insurance and telecommunications. HNC's suite of predictive software
solutions can provide real-time insight into customer relationships based on
transaction-level data, helping companies manage their relationships with
individual customers. By accurately predicting customer behaviors, these
companies can create initiatives to mitigate risk and attrition; improve
customer service;
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develop marketing programs to enhance profitability; and detect fraudulent
customer transactions. For more information, visit HNC's Web site at www.hnc.com
or contact Melinda Bateman, HNC Software Inc., 5935 Cornerstone Court West, San
Diego, CA 92121, (858) 799-3880.
ABOUT RETEK INC.
Retek Inc. delivers high capacity, full function business infrastructure
exclusively for the changing world of retail. Retek's solutions deliver improved
decision-making capabilities and operational efficiencies by enabling supplier
network orchestration, multi-channel selling, and retail CRM. Retek solutions
are available on client platforms, through retail.com--Retek's Marketplace for
the Retail Community--and via electronic exchanges operating Retek's Retail
Server. Retek's customers include A&P, Ann Taylor, Brooks Brothers, Family
Dollar Stores, Kohl's Department Stores, Selfridges, Eckerd Corp., The Home
Shopping Network, Tesco, and Best Buy. For more information, visit Retek's Web
site at www.retek.com or call 877.362.2532. Retek can be contacted in Europe at
+44 20 7872 5795.
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