PeopleSoft and Sallie Mae Expand Strategic Alliance in Higher Education; Hosted Solutions to Allow Colleges and Universities to Better Manage IT Costs

Business Wire, Jan 2, 2001

Business Editors/Hi-Tech Writers

PLEASANTON, Calif.--(BUSINESS WIRE)

Jan. 2, 2001-Global eBusiness leaders PeopleSoft Inc. (Nasdaq:PSFT) and Sallie Mae Solutions today announced an agreement to deliver PeopleSofts eBusiness solutions to the higher education market through an Application Service Provider (ASP) channel.

Together the companies will provide the higher education community with an ASP offering that enables customers to better manage escalating technology costs.

"Our alliance with PeopleSoft represents an extraordinarily powerful commitment to providing higher education customers with the best technology solutions available," said Tom Green, president, Sallie Mae Solutions. "The ASP approach makes advanced technology available to institutions who, until now, were unable to acquire these capabilities."

Under this agreement, PeopleSoft and Sallie Mae will combine PeopleSofts pure internet eBusiness applications with Sallie Maes premier ASP offerings to present an exceptional product to their joint customers.

The PeopleSoft applications, specifically designed for the needs of the Higher Education market, include Student Administration, Advancement, Grants Management, Enterprise Performance Management, Human Resources Management, Financial Management, and eProcurement.

"The PeopleSoft-Sallie Mae partnership marks the true emergence of ASP in the higher education market," said Liz Dietz, vice president and general manager of PeopleSoft Higher Education. "More and more, the business of higher education is being conducted over the internet, and PeopleSoft and Sallie Mae are thrilled to be able to meet the growing demands of the industry through this agreement."

PeopleSoft and Sallie Mae have partnered for the past five years to bring leading student administrative software solutions to higher education through joint application development efforts and joint marketing and sales initiatives.

About PeopleSoft

PeopleSoft for Higher Education provides powerful eBusiness applications and advanced analytical tools specifically designed for the changing needs of colleges and universities. With more than 530 higher education customers, the PeopleSoft commitment to partnering with colleges and universities has made it the leading enterprise software vendor in the industry.

PeopleSoft is a world leader in providing eBusiness applications that enable people - customers, employees, and suppliers - to power the internet. PeopleSoft's pure internet Customer Relationship Management, Supply Chain Management, and Enterprise Management solutions provide the industry's most open and flexible e-commerce platform.

PeopleSoft employs more than 7,900 people worldwide, including 2,400 eBusiness consultants. More than 4,600 organizations in 107 countries run on PeopleSoft eBusiness applications. For more information visit us at www.peoplesoft.com.

About Sallie Mae

Sallie Mae, founded 27 years ago, provides funds for educational loans, primarily federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). The company currently owns and manages in excess of $66 billion in student loans and provides parents, students and educators with comprehensive information on the financial aid process.

Through its specialized subsidiaries and divisions, Sallie Mae also provides an array of consumer credit loans, including those for lifelong learning and K-12 education, and business and technical outsourcing services for colleges and universities nationwide.

USA Education Inc. and its subsidiaries other than the Student Loan Marketing Association are not sponsored by or agencies of the United States. More information about Sallie Mae is available at http://www.salliemae.com.