VERITAS Aligns Product Groups to Better Serve Customer Needs; Three Product Groups Established to Drive Innovation and Technology Leadership in Key Markets

Business Wire, Sept 20, 2004

MOUNTAIN VIEW, Calif. -- VERITAS Software Corporation (Nasdaq:VRTS) today announced the formation of three product groups to enable the company to accelerate its growth, align its product strategy with customer requirements, and drive its vision for utility computing. The new organization will align the company's engineering, product management and product marketing functions into three integrated product organizations - Application and Service Management, Data Protection, and Storage and Server Management. The company's sales and services organizations remain unchanged.

Chief Technology Officer and Application and Service Management Group

Mark Bregman has been appointed as the Chief Technology Officer of VERITAS Software to drive the company's technical and market strategy to further extend its vision for Utility Computing. Additionally, as Chief Technology Officer, Bregman will be responsible for cross-product integration, advanced product development, merger and acquisition strategy, and the company's engineering development centers in Pune, India and Beijing, China. Bregman will also be the Acting Manager of the company's Application and Service Management group, with responsibility for the company's CommandCentral(TM) Service and Application Performance Management products. Bregman joined VERITAS as Executive Vice President in charge of Product Operations in 2002. Bregman was a 16-year veteran of IBM where he held senior management positions in IBM research and IBM Japan.

Data Protection Group

Jeremy Burton has been promoted to Executive Vice President of the company's Data Protection group, with responsibility for VERITAS NetBackup(TM) software, Backup Exec(TM) software, VERITAS Storage Replicator, Desktop and Laptop option and KVault e-mail archiving software products. Burton has served as the company's Senior Vice President and Chief Marketing Officer since 2002. Prior to joining VERITAS, Burton was Senior Vice President of Product and Services Marketing at Oracle Corporation.

Storage and Server Management Group

Kris Hagerman has been appointed Executive Vice President of the company's Storage and Server Management group, with responsibility for the VERITAS Storage Foundation(TM) suite, Volume Replicator, Clustering solutions, OpForce(TM), CommandCentral Storage, CommandCentral Availability, MicroMeasure(TM) and UpScale(TM) products. Hagerman was most recently Executive Vice President of Strategic Operations, and has led VERITAS Strategic Operations since joining the company in 2001, driving strategic alliances, business development, and mergers and acquisitions. Before joining VERITAS, Hagerman served as Founder and Chief Executive Officer at Affinia and BigBook, Inc.

Worldwide Marketing

Rene Bonvanie has been promoted to Senior Vice President of Worldwide Marketing. Bonvanie, a 22-year marketing veteran, will lead the company's worldwide marketing and corporate communications activities. Bonvanie was previously Vice President of Corporate Marketing for VERITAS since joining the company in 2003. Prior to VERITAS, he served as Vice President of Product Marketing at Oracle Corporation.

"I am very excited about these organizational changes as it will accelerate the natural evolution of the company to better align our product strategy to our customers' requirements," said Gary Bloom, chairman, president and CEO of VERITAS Software. "This strategic alignment will allow us to be more effective, more energized and more competitively spirited as we drive our revenue growth and utility computing vision."

About VERITAS Software

VERITAS Software, one of the 10 largest software companies in the world, is a leading provider of software to enable utility computing. In a utility computing model, IT resources are aligned with business needs, and business applications are delivered with optimal performance and availability on top of shared computing infrastructure, minimizing hardware and labor costs. With 2003 revenues of $1.75 billion, VERITAS delivers products for data protection, storage & server management, high availability and application performance management that are used by 99 percent of the Fortune 500. More information about VERITAS Software can be found at www.veritas.com.

This press release includes estimates and forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including forward-looking statements regarding the company's ability to more effectively pursue market opportunities, strengthen its competitive focus and accelerate its growth, which could cause the actual results we achieve to differ materially from such forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the risk that we will not gain market acceptance of our products and services, the risk that we will not be able to maintain the quality of our end-user customer and partnering relationships, and the risk that we will not manage our business effectively, that could cause the actual results we achieve to differ materially from such forward-looking statements. For more information regarding potential risks, see the "Factors that May Affect Future Results" section of our most recent report on Form 10-K and Form 10-Q on file with the SEC. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.