Citrix Board Appoints Chairman, Additional Director; Two Directors to Retire, Board Also Approves Stock Buyback

Business Wire, Jan 31, 2002

Business Editors/Technology Writers

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 31, 2002

The board of directors for Citrix Systems, Inc. (Nasdaq:CTXS), a global leader in virtual workplace software and services, today announced that Stephen M. Dow has been appointed chairman of the board and will assume the responsibilities of chairman after the company's annual meeting in May, 2002. In addition, the board announced that Ken Lonchar, executive vice president and chief financial officer of VERITAS Software Corporation (Nasdaq:VRTS), has been appointed as a director. The board also announced that Roger W. Roberts, chairman of the board, and Robert N. Goldman, director, will not seek re-election to the board when their terms expire in May, 2002. Both will continue to serve in their respective positions until their terms end.

Also, the board authorized the company to repurchase up to an additional $200 million of Citrix common stock. Citrix said it plans to buy shares on the open market from time to time, depending on market conditions.

"Roger and Bob have made many contributions to Citrix over the years," said Mark Templeton, president and chief executive officer for Citrix. "We'll miss their leadership, their talents and the passion they have for the company, but, at the same time, we're excited to welcome Ken Lonchar to the board. We look forward to benefiting from his wealth of experience, his skill as an executive leader and the additional perspectives that he can bring. And, it's great to have Steve as chairman. He's been a great leader on the board and knows the company extremely well."

Dow, 46, has served as a director since 1989. Since 1983, he has served as a general partner of Sevin Rosen Funds, a venture capital firm. Dow also serves as a director of several privately held companies.

Lonchar, 43, has served as chief financial officer of VERITAS Software since 1995, and as executive vice president since January, 1999. At VERITAS Software, he is responsible for the management and compliance of the company's corporate accounting, financial reporting, strategic planning, tax and investor relations functions.

"I'm excited to be part of the Citrix board," said Lonchar. "The company has a compelling vision and is uniquely well positioned from an industry, technology and financial standpoint."

Roberts, 57, has served as chairman since May 2000 and as a director since 1990. He held key management positions for over 11 years while helping Citrix grow from a raw technology startup to a leading software firm.

"It's a tough personal decision to retire from a company I care about so much," said Roberts. "But the management team and board are stronger and more experienced than they've ever been, and I remain extremely positive about this great company and its potential."

Goldman, 52, has served as director since 1995 and has served on the audit and finance committees. He has played a major role on the board since before Citrix went public in 1995. He is currently chairman of eXcelon Corporation (Nasdaq:EXLN) and a director of Parametric Technology Corp. (Nasdaq:PMTC).

About Citrix

Citrix Systems, Inc. is a global leader in application serving and portal software and services that provide personalized access to any application or information source - whether Windows(R), UNIX(R) or Web-based - through any device, over any connection. Companies worldwide use Citrix technologies to integrate applications, content and business processes into a pervasive digital environment - a virtual workplace - offering seamless connectivity and a consistent user experience across the Internet, intranets, extranets, WANs, LANs and wireless networks. Citrix solutions drive cost efficiency, productivity and enhanced e-business opportunities by enabling companies to leverage existing IT resources and extend personalized information access to employees, partners, customers and suppliers.

Citrix products offer rapid, cost-effective deployment and include MetaFrame(R) application serving software, NFuse(TM) application portal software, XPS(TM) portal software, application management products, and Citrix Independent Computing Architecture (ICA(R)), a core application serving technology. The company markets its application serving products through a reseller channel and sells its portal software products directly to customers to provide the level of customization they need. Citrix is traded on the Nasdaq Stock Market(SM) under the symbol CTXS, and is part of the Standard and Poor's 500 Index. Citrix is headquartered in Fort Lauderdale, Florida. For more information, please visit the Citrix Web site at http://www.citrix.com.

For Citrix Investors

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future financial performance, management's plans and objectives for future operations, product plans and performance, management's assessment of market factors, as well as statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, risks associated with the following: the success of the company's MetaFrame and portal software product line and the acceptance of the company's ICA protocol; the company's ability to develop and commercialize new products and services; the company's success in expanding into new vertical or geographic markets; the company's ability to transition to an electronic licensing model; the company's ability to expand its core business in large enterprise accounts; the size, timing and recognition of revenue from significant orders; increased competition, including potential competition from Microsoft and other companies; the results of the company's iBusiness and other new licensing programs; the proportion of revenues derived from distributors, OEMs and other channels; changes in the company's pricing policies or those of its competitors, including Microsoft; the costs of developing, acquiring, or integrating new technologies or enhancements to existing products; the risks associated with third party licensing arrangements; the company's ability to successfully integrate and manage merged or acquired companies; the company's reliance upon its strategic relationships with Microsoft and other strategic partners; management of growth; the possibility of undetected software errors; dependence on proprietary technology; changes in prevailing accounting policies; as well as risks of downturns in economic conditions generally, and in the software industry specifically, and other risks detailed in the company's filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.