Business Objects Files Registration Statement for Existing Employee Stock Program

Business Wire, June 23, 2005

SAN JOSE, Calif. & PARIS -- Business Objects (Nasdaq:BOBJ)(Euronext Paris ISIN code FR0004026250 - BOB) has filed a registration statement to register 2.5 million shares reserved for issuance to the Business Objects Employee Benefit Sub-Plan Trust (the "Trust") under one of the company's existing employee stock plans. The authorization granted to the company's board of directors to issue and reserve the shares to the Trust was approved by the company's shareholders at their meeting on June 10, 2004. This registration statement is intended to provide the company's eligible(1) subsidiaries with the ability to grant restricted stock and performance shares to eligible employees, in lieu of or in addition to, stock options. This registration statement will not increase either the total number of shares outstanding or the number of shares in the employee stock program at the time of registration.

Because of the operation of French law, the company will distribute the shares to the Trust. The Trust will then make the awards to eligible employees. As a result, the company is required to use the Form S-3 registration statement instead of the Form S-8 registration statement typically used for employee benefit arrangements.

As of January 1, 2005, International Financial Reporting Standards rules regarding expensing of options became effective. Similar rules will be effective under United States generally accepted accounting principles for the company as of January 1, 2006. Business Objects has amended its equity compensation plan in order to provide greater flexibility, which we believe is consistent with current industry trends. The goal of Business Objects' equity compensation plans is to assist it in attracting, retaining, and motivating the best available personnel for the success and growth of its business.

The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This press release does not constitute or form part of an offer to sell or solicitation of an offer to purchase or subscribe for securities in France. The shares may not and will not be offered or sold to the public in France except to qualified investors (investisseurs qualifies) and/or to limited group of investors (cercle restreint d'investisseurs qualifies) in each case, acting per their own account, all as defined in, and in accordance with, Articles L.411-1 and L.411-2 of the French Monetary and Financial Code (Code Monetaire et Financier) and Decree No. 98-880 dated October 1, 1998.

About Business Objects

Business Objects is the world's leading business intelligence (BI) software company. With over 30,000 customers worldwide, including over 80 percent of the Fortune 500, Business Objects helps organizations gain better insight into their business, improve decision making, and optimize enterprise performance. The company's business intelligence platform, BusinessObjects XI, offers the BI industry's most complete and trusted platform for reporting, query and analysis, performance management, and data integration. BusinessObjects XI includes Crystal Reports(R), the industry standard for enterprise reporting. Business Objects has also built the industry's strongest and most diverse partner community, and also offers consulting and education services to help customers effectively deploy their business intelligence projects.

Business Objects has headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.

Forward-Looking Statements

This document contains forward-looking statements that involve risks and uncertainties concerning the company, including statements regarding the company's eligible subsidiaries' ability to grant restricted stock and performance shares to their eligible employees, current industry trends related to equity compensation programs, and the impact of restricted stock and performance shares on the consolidated financial statements of the company under US GAAP and IFRS. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the company's inability to fulfill current and future legal, accounting and other requirements related to the grant of restricted stock and performance shares, as well as the company's inability to have the registration statement declared effective. More information about potential factors that could affect Business Objects is included in Business Objects' Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, and its Form S-3 Registration Statements dated June 23, 2005, each of which is on file with the Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. Business Objects is not obligated to update these forward-looking statements to reflect events or circumstances after the date of this document.