Bernstein Litowitz Berger &Grossmann LLP Files Class Action Against Indus International, Inc.

Business Editors &Legal Writers

NEW YORK--(BUSINESS WIRE)--Feb. 4, 2000

The following is an announcement by the law firm of Bernstein Litowitz Berger &Grossmann LLP:

Pursuant to 15 U.S.C. 78u-4(a)(3)(A)(I), Bernstein Litowitz Berger &Grossmann LLP (&uot;BLB&&uot;) hereby gives notice that on February 3, 2000, it filed a class action lawsuit against Indus International, Inc. (&uot;Indus&uot; or the &uot;Company&uot;), and certain of its former officers and directors, in the United States District Court for the Northern District of California.

The class includes all purchasers of Indus common stock (NASDAQ:IINT) from October 29, 1999, through January 27, 2000, inclusive (the &uot;Class&uot;). Excluded from the Class are defendants, officers and directors of the corporate defendant, and predecessors, successors, assigns or affiliates of any such excluded party.

The Complaint alleges that, during the Class Period, Indus issued materially false and misleading financial statements for its quarter ended September 30, 1999, and included these false and misleading statements in various press releases and filings with the Securities and Exchange Commission. Plaintiff further alleges that these false statements, which overstated the Company's quarterly net income by at least $3.1 million, or approximately 89%, caused the price of Indus common stock to be artificially inflated, trading as high as $13 per share. On the final day of the Class Period, the Company announced that it would restate its previously disseminated third quarter 1999 financial results based upon an overstatement of its revenues and net income, reducing revenues from $50.9 million to $45.9 million, and net income from $3.5 million to $0.4 million. Following this announcement, the price of Indus common stock closed at $7.625 per share, reflecting a decline of 42% from its Class Period high, and 23% below the prior day's closing price.

Plaintiff is represented by the law firm of Bernstein Litowitz Berger &Grossmann LLP (&uot;BLB&&uot;), which maintains offices in New York and California.

If you are a member of the Class described above, you have several options with respect to your participation in this Action.

First, you may choose to do nothing, in which case, if the Court certifies the Class described above, you should still be able to participate in the Action as a member of the Class, and share in any recovery obtained in the Action on behalf of the Class.

Second, you may apply, through any counsel of your choice, to serve as Lead Plaintiff on behalf of the Class. The Lead Plaintiff is responsible for overseeing the prosecution of the Action and ensuring that the interests of the Class are protected. The Lead Plaintiff's duties include, among other things: (i) selecting and retaining counsel to represent the Class; (ii) meeting and consulting with counsel to supervise the conduct of the litigation; and (iii) appearing at depositions and/or at trial, as necessary and ordered by the Court.

Third, you may apply to be appointed Lead Plaintiff through BLB&, by contacting the individuals set forth below. BLB& specializes in prosecuting class actions nationwide on behalf of public pension funds and other institutional or significant individual investors. The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts, and has recently served as co-lead counsel for the Class in In re Cendant Corporation Litigation, which resulted in a settlement in excess of $3 billion in cash.

If you wish to apply to be Lead Plaintiff in this Action, a motion must be filed on your behalf with the Court no later than April 3, 2000. To learn more about this Action, the claims asserted in this case, and your rights in connection therewith, you may contact Robert S. Gans or Blair A. Nicholas of Bernstein Litowitz at 800-380-8496 or 212-554-1400, or by E-mail: [e-mail].