Telelogic Announces Hart-Scott-Rodino Clearance in the Acquisition of Continuus

Telelogic Announces Hart-Scott-Rodino Clearance in the Acquisition of Continuus MALMÖ, Sweden, November 22, 2000 - Telelogic AB (Stockholm Stock Exchange: TLOG), the world-leading supplier of solutions for real-time software development and requirements management, announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with Telelogic AB's proposed acquisition of Continuus Software Corporation (NASDAQ: CNSW) expired on November 20, 2000. As has been previously disclosed, on October 25, 2000, Continuus and Telelogic AB announced the signing of a definitive merger agreement pursuant to which a wholly-owned subsidiary of Telelogic agreed to purchase, subject to the satisfaction of certain conditions, all of the outstanding shares of Continuus common stock for $3.46 per share in cash through a front-end tender offer and back-end merger. The expiration or early termination of the HSR waiting period was a condition to completion of the tender offer. The tender offer for Continuus continues as planned. Telelogic's tender offer is scheduled to expire at 12:00 midnight EST on Tuesday, November 28, 2000, unless extended. If more than 50% of the Continuus shareholders have tendered their shares, the deal is expected to close during the first quarter of 2001. With acceptance from more than 90% of the Continuus shareholders, the transaction is expected to close in December this year. Telelogic's financial advisor, Lehman Brothers, has committed financing for the acquisition. The financing will involve an issue of primary shares for the whole or part of the acquisition at a future date. However, it is unlikely any shares will be issued in the near term and issuance will depend on market conditions. The dilution is expected to be approximately 5%, as previously communicated. About Telelogic Telelogic is established in thirteen countries under its own name, and a further 20 countries through distributors. It leads the market in development environments for advanced software, especially in real-time applications. By offering high quality graphical development tools and related services, Telelogic makes the development of software more rapid, less labor intensive, and more reliable. The company has a global client base, including all the top 10 communication suppliers such as Alcatel, Cisco, Ericsson, Fujitsu, Hewlett-Packard, Lucent, Motorola, NEC, Nokia, Nortel Networks and Siemens, as well as a number of leading suppliers within automotive and aerospace. The software market is moving towards more visual programming methods, and Telelogic leads in the production of the next generation of development tools, in this area. Telelogic is well prepared to deliver rapid and complete solutions for the complex challenges faced by the real-time industry. For more information about Telelogic, please visit www.telelogic.com. Acquisition information More information about Telelogic and Continuus can be found at www.telelogic.com. Contacts: Anders Lidbeck Catharina Sundelin President & CEO Director of Information & Investor Relations Telelogic AB Telelogic AB Phone: +46 40-17 47 00 Phone: +46 40-17 47 30 Fax: +46 40-17 47 47 Fax: +46 40-17 47 47 E-mail: anders.lidbeck@telelogic.com E-mail: catharina.sundelin@telelogic.com This announcement is not an offer to purchase nor a solicitation of an offer to sell shares. Telelogic has filed a tender offer statement with the sec and Continuus has filed a solicitation/recommendation statement with respect to the offer. Investors and security holders of both Telelogic and Continuus are urged to read each of the tender offer statement and the solicitation/ recommendation statement referenced in this press release because they contain important information about the transaction. Investors and security holders may obtain a free copy of the tender offer statement and the solicitation/recommendation statement and other documents filed by Telelogic and Continuus with the sec at the sec's web site at www.sec.gov. The tender offer statement and the solicitation/recommendation statement and these other documents may also be obtained free from Continuus or by contacting D.F. King & co., the information agent. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/11/22/20001122BIT01300/bit0001.doc http://www.bit.se/bitonline/2000/11/22/20001122BIT01300/bit0002.pdf http://www.bit.se/bitonline/2000/11/22/20001122BIT01300/bit0003.fcm