Epicor Comments on the Termination of Elliott Associates’ Tender Offer

IRVINE, Calif.--(BUSINESS WIRE)--Epicor Software Corporation (NASDAQ:EPIC), a leading provider of enterprise business software solutions for the midmarket and divisions of Global 1000 companies, today issued the following statement in response to Elliott Associates L.P.’s announcement that it has terminated its previously announced tender offer for all outstanding shares of common stock of Epicor.

“Epicor remains committed to building stockholder value through the execution of its business plan, product strategy and roadmap. We believe that our strong slate of existing and new ERP and Retail products and services, including the release of Epicor 9 which is expected to become generally available during the fourth quarter, provide excellent near and long term opportunities to gain market share, while also providing the latest upgrade and migration path for our more than 20,000 customers worldwide. With retention rates consistently in the 94% range, these customers provide excellent high margin recurring maintenance revenues for Epicor that are expected to approach or exceed $200 million for fiscal year 2008. We believe the company is in an excellent position to drive revenue growth and solid cash flows and we look forward to delivering sustained growth and value creation for our stockholders.”

Wilson Sonsini Goodrich & Rosati is acting as legal advisor and UBS Investment Bank is acting as financial advisor to Epicor.

About Epicor Software Corporation

Epicor is a global leader dedicated to providing integrated enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM) and professional services automation (PSA) software solutions to the midmarket and divisions of Global 1000 companies. Founded in 1984, Epicor serves over 20,000 customers in more than 140 countries, providing solutions in over 30 languages. Employing innovative service-oriented architecture (SOA) and Web services technology, Epicor delivers end-to-end, industry-specific solutions for manufacturing, distribution, retail, hospitality and services that enable companies to drive increased efficiency, improve performance and build competitive advantage. Epicor solutions provide the scalability and flexibility to meet today's business challenges, while empowering enterprises for even greater success tomorrow. Epicor offers a comprehensive range of services with its solutions, providing a single point of accountability to promote rapid return on investment and low total cost of ownership. Epicor’s worldwide headquarters are located in Irvine, California with offices and affiliates around the world. For more information, visit www.epicor.com.

Epicor is a registered trademark of Epicor Software Corporation. Other trademarks referenced are the property of their respective owners. The product and service offerings depicted in this document are produced by Epicor Software Corporation.

Forward-Looking Statements

This press release contains certain statements which constitute forward-looking statements. These forward-looking statements include statements regarding Epicor’s stand-alone plan, strategic plan, robust product road map, product strategy, the timing and success of Epicor 9 and other product enhancements for existing customers, retention rates, maintenance revenues, future cash flows, revenue growth, market share and other statements that are not historical fact. These forward-looking statements are based on currently available competitive, financial and economic data together with management’s views and assumptions regarding future events and business performance as of the time the statements are made and are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements.

Such risks and uncertainties include but are not limited to the disruptions in Epicor’s business as a result of the offer, conditions in the worldwide economy and financial markets, changes in the demand for enterprise resource planning products, particularly in light of competitive offerings; the timely availability and market acceptance of new products and upgrades, including Epicor 9 and other product enhancements; the impact of competitive products and pricing; the discovery of undetected software errors; changes in the financial condition of Epicor’s major commercial customers and Epicor’s future ability to continue to develop and expand its product and service offerings to address emerging business demand and technological trends; Epicor’s ability to realize the market opportunities expected from the NSB acquisition; Epicor’s ability to continue to support NSB’s customers and add functionality to NSB’s products; and other factors discussed in Epicor’s annual report on Form 10K for the year ended December 31, 2007 and quarterly report of Form 10Q for the quarter ended September 30, 2008. As a result of these factors the business or prospects expected by the Company as part of this announcement may not occur. Epicor undertakes no obligation to revise or update publicly any forward-looking statements.