News at iHerve.com

"Oracle's database and e-Business applications have become the software standard for the Internet," said Oracle CEO, Larry Ellison. "All 10 of the world's biggest web sites use Oracle. 93% of the public dot com companies use Oracle. Now the leading companies in traditional industries - Chevron, Ford, General Motors, Carrefour and Sears - are choosing Oracle to move them to the Internet. The faster the Internet grows - the faster we grow."

"Nine months ago, we set out to save one billion dollars annually by using our own Internet e-Business applications," said Oracle CFO, Jeff Henley. "That billion dollar savings translates to a 10 point improvement in our margin. This quarter's operating margin improved 11.8 points - from 19.6% to 31.4% percent - compared to Q3 last year. So we are reaching our financial goals faster and saving even more than planned. Better still, there are a lot more Internet efficiencies to come as we complete the transformation of Oracle into a global e-Business. We are only halfway through an 18 month process."

14-Mar-2000

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Last Revised: March 24, 2000.