REDWOOD SHORES, Calif., Oracle Corporation is extending the previously announced subsequent offering period of its tender offer for all outstanding shares of PeopleSoft, Inc. to 8 p.m. New York City time on Thursday, January 6, 2005.

The subsequent offering period for the transportation and enterprise software provider was previously set to expire at 8 p.m. New York City time on January 4, 2005.

Including those shares tendered in the initial offering period, PeopleSoft stockholders have now tendered approximately 357,684,588 million shares or approximately 89.4 percent of PeopleSoft’s outstanding stock.

Oracle has accepted for payment all shares tendered in the offer.

If at least 90 percent of the outstanding shares of PeopleSoft have been tendered before the expiration of the subsequent offering period, Oracle will carry out an expedited second-step merger, as permitted by Delaware law.

The extension of the subsequent offering period will permit all stockholders who have not yet tendered to obtain the $26.50 per share offer price for their shares prior to consummation of the second-step merger.

During the subsequent offering period, Oracle’s acquisition subsidiary Pepper Acquisition Corp. will accept for payment and promptly pay for PeopleSoft shares as they are tendered. Stockholders who tender shares during such period will be paid the same $26.50 per share cash consideration paid during the initial offering period. Shares tendered during the subsequent offering period may not be withdrawn.

Pepper Acquisition Corp. may further extend the subsequent offering period.