Progress Software Corporation Appoints Christopher Larsen Senior Vice President of Global Field Operations

Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, today announced the appointment of Christopher Larsen as the company’s Senior Vice President, Global Field Operations. His appointment in this new executive role is part of Progress' goal to provide a single integrated and customer-focused, enterprise-level sales, services, and support organization globally. Reporting to Rick Reidy, president and chief executive officer, Larsen will be responsible for all company-wide sales, pre-sales, alliance, technical support and consulting services.

Rick Reidy said: "My goals are to make our business even more successful and enhance our growth and profitability. Chris’ appointment demonstrates my commitment to executing our ambitious growth plans. Chris brings an outstanding track record of developing, implementing and executing sales and service growth strategies. With extensive experience in the software market, he understands how to take an organization to the next level. He brings that experience to Progress’ global field organization.”

Chris Larsen noted: "Progress has earned an enviable reputation around the world for delivering advanced software infrastructure products and services to enable and manage mission-critical business applications. In addition, the company has an extensive customer base and an experienced team, which I’m very excited to become a part of. As the company continues its rapid evolution, Progress is well-positioned for continued success. I am looking forward to growing our market share significantly and increasing customer value by enabling their ability to be more operationally responsive.”

Until recently, Larsen was President and Chief Operating Officer of Allegro Development, a provider of energy trading risk management software. Prior to this role, he was EVP of Global Field Operations at TIBCO Software.

Before TIBCO Software, Larsen held executive leadership positions with DecisionOne, VerticalNet and SAP, where he worked over eight years in nearly every senior sales leadership position culminating in his appointment to President of SAP America in 1999.

About Progress Software Corporation

Progress Software Corporation (NASDAQ: PRGS) is a global software company that enables enterprises to be operationally responsive to changing conditions and customer interactions as they occur – to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class infrastructure software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment – all supporting on-premises and SaaS/Cloud deployments. Progress maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress can be reached at www.progress.com or +1-781-280-4000.

Safe Harbor Statement

Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which include statements regarding the company’s business outlook, involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including but not limited to the following: the receipt and shipment of new orders; the timely release of enhancements to the company's products; the growth rates of certain market segments; the positioning of the company's products in those market segments; variations in the demand for professional services and technical support; pricing pressures and the competitive environment in the software industry; the weakness in the U.S. and international economies, which could result in fewer sales of our products and may otherwise harm our business; business and consumer use of the Internet; the company’s ability to attract, incent and retain highly skilled managerial, technical and marketing personnel and the success of those personnel in implementing the company’s business plans; the company’s ability to complete and integrate acquisitions; the company’s ability to realize the expected benefits and anticipated synergies from acquired businesses; the company's ability to penetrate international markets and manage its international operations; and changes in exchange rates. The company undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the company's business, please refer to the company's filings with the Securities and Exchange Commission.

Progress is a registered trademark of Progress Software Corporation or one of its affiliates or subsidiaries in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.

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