Australian Finance Group Standardizes on Siebel eFinance 7, MidMarket Edition.

Business Editors/High-Tech Writers

SAN MATEO, Calif.--(BUSINESS WIRE)--May 29, 2002

Leading Financial Wholesaler to Increase Sales Using Tailored

Functionality of Siebel eFinance 7, MidMarket Edition

Siebel Systems, Inc. (Nasdaq:SEBL), the world's leading provider of eBusiness applications software, today announced that Australia's largest independent third-party wholesale distributor, Australian Finance Group (AFG), has selected Siebel eBusiness Applications for its customer relationship management solution. Using Siebel eFinance 7, MidMarket Edition -- a comprehensive suite of eBusiness applications designed specifically for medium-size businesses in the financial services sector -- AFG expects to increase sales two- to three-fold.

AFG is the largest independently owned third-party wholesaler of mortgages in Australia, processing more than 4,000 residential loans per month worth in excess of AUD$900 (US$485) million. Using Siebel eFinance 7, MidMarket Edition, AFG will enable 100 AFG staff and more than 1,500 external residential home loan facilitators around Australia to seamlessly offer and administer multiple financial service product lines, such as mortgages, home and contents insurance, and life insurance, during a single customer meeting, through a centrally replicated information system.

AFG members will have a single, integrated view of its rapidly expanding customer base to track current and future sales opportunities, cross-sell and up-sell existing customers, and to administer commissions associated with more than 500 financial services products from 30 institutions. Siebel eBusiness Applications give AFG a single customer relationship management (CRM) system to replace multiple information collection sites around the country.

"Using Siebel eFinance 7, brokers who use AFG's services and typically generate their own leads can help customers compare loans that are most suitable to them," said Malcolm Watkins, Executive Director Marketing and Technology, AFG. "Once the customer has decided on a mortgage, the broker has the opportunity to offer additional services such as home and contents insurance, life insurance, and even financial planning services during the same meeting. All of these services can be immediately captured in the CRM system for fulfillment."

Siebel eFinance 7, MidMarket Edition also allows the complex commission structure associated with multiple loans, mortgages, and insurance products to be accurately tracked from start to finish through a central system.

AFG is undertaking the largest technology initiative since the company's inception in 1995 by replacing nearly all of its legacy systems. AFG will seamlessly integrate Siebel eBusiness Applications with several back end systems, including an Oracle database and Oracle Financials, and will incorporate components of AFG's current Web site functionality.

"We require an industry-specific solution for the financial services sector that only Siebel Systems can provide," said Watkins. "Siebel Systems' ongoing commitment to software development for financial services was a key differentiator -- other vendors would have had to start from scratch."

About Siebel Systems

Siebel Systems, Inc. is the world's leading provider of eBusiness applications software. Siebel Systems provides an integrated family of eBusiness applications software, enabling multichannel sales, marketing, and customer service systems to be deployed over the Web, in call centers, in the field, through reseller channels, and across retail and dealer networks. Siebel Systems' sales and service facilities are located in more than 32 countries. For more information, please visit Siebel Systems' Web site at www.siebel.com.

About AFG

Independently owned AFG is the largest third party (wholesale) distributor of mortgages in Australia. In the past 12 months, AFG processed real estate loans totaling $8.1 billion. AFG's 1800 independent member base is made up of mortgage brokers, accountants, financial planners and real estate agents. The company's revenue is principally derived from the 30 lending institutions with which it works.

Except for the historical information contained herein, this press release contains forward-looking statements that involve risk or uncertainties. Future operating results of Siebel Systems may differ from the results discussed or forecasted in the forward-looking statements due to factors that include, but are not limited to, risks associated with customer relations, such as the availability of Siebel Systems' products and services, customer implementation of products and services, relationships with customers, third-party vendors and systems integrators, concentration of revenues in a relatively small number of customers, existence of errors or defects in products, ability to successfully manage growth, significant current and expected additional competition and the need to continue to expand product distribution and services offerings. Further information on potential factors that could affect the financial results of Siebel Systems are included in Siebel Systems' Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Siebel Systems assumes no obligation to update the information in this press release.

Note to Editors: Siebel is a trademark of Siebel Systems, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.