CNA Streamlines Treasury Operations With PeopleSoft Treasury Management; PeopleSoft And XRT-CERG Joint Solution Provide Banking Efficiencies.

Business Editors/High-tech Writers

PLEASANTON, Calif.--(BUSINESS WIRE)--June 30, 2000

PeopleSoft Inc. (Nasdaq:PSFT) today announced that CNA, one of the leading insurance organizations in the United States, has successfully implemented the PeopleSoft Treasury Cash Management solution.

Included in the implementation is a joint solution from PeopleSoft and XRT-CERG that provides CNA with single-platform, multi-bank connection capabilities.

Since going live in April 2000, the PeopleSoft Treasury Cash Management solution has dramatically streamlined CNA's cash management processes, and offers employees and customers more timely access to mission critical information. The deployment is the largest implementation ever for the solution.

"CNA selected the PeopleSoft Treasury Management solution for its functionality and synergy with our other PeopleSoft products," said Pam Dempsey, vice president and treasurer of CNA. "The full PeopleSoft Treasury Management solution will assist CNA in its strategy of being the leading expert in managing the risks of businesses."

As part of an arrangement between PeopleSoft and XRT-CERG, a worldwide leader in cash management, treasury management and electronic banking software, PeopleSoft has integrated XRT-CERG's electronic banking tools with PeopleSoft's Treasury Management solution to provide customers with a seamless, multi-bank connection on a single platform.

"XRT-CERG has provided the essential Banking Relationship Management (BRM) tools for CNA," said Jean-Pierre Roumilhac, President and CEO of XRT-CERG S.A. "Our unique ability to connect to banks, format and transmit payments, capture collection information, and secure inbound and outbound financial flows in a way that is fully integrated with PeopleSoft's ERP suite enables the client to maximize working capital."

With Deloitte Consulting managing the implementation team and implementation services from PeopleSoft Consulting, CNA gained efficiencies in cash accounting, continuous cash positioning capability, real-time information updates and customer queries. These improvements have reduced processing errors and manual account transaction reconciliations by more than 80 percent.

"CNA has made an excellent choice for advancing their corporate strategy by using Treasury Management and other current PeopleSoft products," said Mark Stapleton, director of treasury product strategy at PeopleSoft. "This successful CNA implementation is yet another example of PeopleSoft providing the broadest range of eBusiness solutions that companies need to thrive in today's rapidly changing business world."

About PeopleSoft

PeopleSoft is a worldwide leader in eBusiness applications and consulting. Our solutions include Customer Relationship Management, eCommerce and Supply Chain Management, Human Resource Management, Financial Management, Professional Services Automation, and Learning Solutions for a variety of industries. PeopleSoft supplies eBusiness internet applications, consulting and education for large and medium-size enterprises that desire business solutions that are flexible, rapidly deployed, and provide a lower cost of ownership in today's internet economy. With more than 4,000 customers and 7,000 employees, including 2,600 eBusiness consultants, and products installed in more than 90 countries, PeopleSoft helps its customers to achieve the highest value from eBusiness solutions." More information is available about PeopleSoft at www.PeopleSoft.com.

PeopleSoft and the PeopleSoft logo are registered trademarks. All other company and product names may be trademarks of their respective owners. Copyright (c) 2000 PeopleSoft, Inc. All rights reserved.

About CNA

CNA is a leading insurance organization offering a broad range of insurance products and insurance-related services. Since 1897, CNA has built on a foundation of financial strength, stability and commitment to customers and business partners. Visit CNA at www.cna.com. CNA is a registered service mark, trade name and domain name of CNA Financial Corporation.

About Deloitte Consulting

Deloitte Consulting is one of the world's leading e-Business consulting firms, providing services to transform your entire enterprise -- your strategy, processes, information technology, and people. Deloitte Consulting is a part of Deloitte Touche Tohmatsu, one of the world's leading professional services firms, delivering world-class assurance and advisory, tax, and consulting services. More than 90,000 people in over 130 countries serve nearly one-fifth of the world's largest companies as well as large national enterprises, public institutions, and successful fast-growing companies. Our internationally experienced professionals deliver seamless, consistent services wherever our clients operate. Further information on Deloitte Consulting is available at www.dc.com.

About XRT-CERG

XRT-CERG S.A. develops, markets, and supports electronic banking, cash, treasury and risk management software solutions for mid-size to large corporations, and banks worldwide. Its software solutions are based on the Microsoft Windows/NT platform, and include both 32-bit client server applications utilizing SQL databases, as well as streamlined solutions for smaller organizations. The company has approximately 11,000 customers in 51 countries. More information on XRT-CERG is available at www.xrtcerg.com.