Leading Bank Will Deploy Industry Leading HCM Solutions Across 70 Branches

Beirut, Lebanon - December 13, 2004 - PeopleSoft (Nasdaq: PSFT) and Byblos Bank S.A.L. today announced that they have signed an agreement to deploy the PeopleSoft Enterprise Human Capital Management (HCM) solutions across its branches in Lebanon and affiliated offices around the world.  The deployment of PeopleSoft HCM is one of Byblos Bank's key initiatives to upgrade its technology infrastructure and empower is human resources function with an advanced and flexible solution.  

Byblos will deploy PeopleSoft Enterprise HCM to enable its bank managers to instantly assign assessments or training and manage resource allocation, online, in real time across 70 branches within Lebanon. In addition, the solution will enable HR managers to align tactical personnel activities to the company's strategic goals, and focus on value-added HR functions such as performance management and training.

Executives at the bank expressed confidence that the solution will enable the bank to reduce costs, streamline operations, and empower bank managers, by providing them with unique workforce performance management functionality and self-service tools.

"Byblos Bank is currently expanding our business, and we needed a solution that can help managers and employees adapt to that change," said Liliane Nohra, human resources manager, Byblos Bank. "PeopleSoft's Enterprise HCM will play a key role in helping us drive departmental results by aligning employee goals with organizational objectives, and automating processes throughout the company."

"PeopleSoft's software will support our modernization and development program, providing us with a proven human resource management and payroll application which will be available throughout the organization," added Nohra.

Byblos Bank conducted an exhaustive evaluation of solutions from a range of international vendors, before opting for PeopleSoft Enterprise HCM solutions. Key factors that led to the Bank's decision to select PeopleSoft included PeopleSoft's experience in the banking sector and PeopleSoft Enterprise HCM's comprehensive human resources functionality.

"Banks throughout the Middle East are dealing with the changes brought about by deregulation, expansion of the financial services sector, and increasing competition.  This sector requires flexible technology platforms to help them manage that change," said Jeffrey Read, managing director and vice president, EMEA Sales Distribution Group, PeopleSoft.

"PeopleSoft Enterprise has developed a leadership position by providing solutions for the banks that enable them to focus upon core business issues," concluded Read.

PeopleSoft's HCM solutions currently support the human resource needs of 75 million employees in 167 countries. PeopleSoft HCM is currently in use at more than half of the Fortune 100 and six of the 10 largest global organizations, making it the worldwide standard for Human Capital Management.

The combination of PeopleSoft Enterprise, PeopleSoft Enterprise One and PeopleSoft World products are the most comprehensive set of HCM solutions from a single vendor in the world. PeopleSoft HCM solutions enable companies around the world to streamline their HR processes, deploy those processes throughout the organization, and align the workforce to organizational goals and objectives.

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About Byblos Bank
Established in Byblos-Lebanon in 1950, Byblos Bank Group is a leading universal financial institution focused on domestic and selective regional markets while striving to offer world-class service to its customers. Byblos Bank's total assets stood at LBP 9,069 billion as at end of 2003, ranking among the top 3 banks in Lebanon with an extensive network of 70 branches spread around the country. Members of the Group include Byblos Bank Europe s.a. (Belgium),  ADIR (Adonis Insurance and Reinsurance Company s.a.l.), Partnership Byblos Bank and Assurances Banque Populaire, and Byblos Bank Africa ltd. 

About PeopleSoft
PeopleSoft (Nasdaq: PSFT) is the world's second largest provider of enterprise application software with 12,750 customers in more than 25 industries and 150 countries. For more information, visit us at www.peoplesoft.com.

© Press Release 2004