Offer Update

Sopheon PLC 15 November 2001 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN EMBARGOED UNTIL 8.30 A.M. 15 November 2001 Merger by way of recommended offer by Sopheon plc ('Sopheon') for Orbital Software Holdings plc ('Orbital') Offer unconditional in all respects Further to the announcement on 13 November 2001 that Sopheon's recommended all share offer for Orbital ('the Offer'), on the terms and subject to the conditions set out or referred to in the Offer Document dated 22 October 2001, was unconditional as to acceptances, Sopheon and Orbital announce that all other conditions of the Offer have now either been satisfied or waived. Accordingly the Offer is declared unconditional in all respects. The Offer will remain open for acceptance until further notice. Settlement of consideration due to those Orbital Shareholders who have already validly accepted the Offer will be effected as soon as practicable and by no later than 29 November 2001. Settlement of the consideration due to those Orbital Shareholders who validly accept the Offer from today onwards will be effected within fourteen days of receipt of their valid acceptance. As stated in the Offer Document, Sopheon intends to procure that Orbital applies for cancellation of the listing of the Orbital Shares on the Official List and cancellation of the trading of Orbital Shares on the London Stock Exchange, such cancellation to take place following the expiry of a notice period of 20 business days commencing today. It is anticipated that such cancellation will take effect on 13 December 2001. As stated in the announcement dated 22 October 2001 and following the Offer becoming unconditional in all respects Andrew Davis has been appointed to the board of Sopheon as a non-executive director. A further announcement will be made in due course with the information required under paragraph 15 of the AIM Rules. Save as otherwise disclosed in this announcement, neither Sopheon nor any of its directors, nor, so far as Sopheon is aware, any person acting in concert with Sopheon, owns or controls any Orbital Shares or has any option to purchase or subscribe for Orbital Shares, or any derivatives referenced to Orbital Shares. Unless the context otherwise requires, the definitions contained in the Offer Document dated 22 October 2001 apply in this announcement. Enquiries Sopheon plc Orbital Software Holdings plc Barry Mence Tel. +44 (0)1483 883 000 Ian Ritchie Tel. +44 (0)131 348 3000 Arif Karimjee Brian Gray HSBC Investment Bank plc Broadview International Limited John Mellett Tel. +44 (0)20 7336 9000 Tom S. Anthofer Tel. +44 (0)20 7968 3700 Dalia Joseph Roger Manship Buchanan Communications Steve Liebmann Tel. +44 (0)20 7466 5000 The Sopheon Directors accept responsibility for the information contained in this announcement other than the information relating to the Orbital Group, the Orbital Directors, their immediate families and related trusts and persons connected with the Orbital Directors. To the best of the knowledge and belief of the Sopheon Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement, for which they accept responsibility, is in accordance with the facts and does not omit anything likely to affect the import of such information. The Orbital Directors accept responsibility for the information contained in this announcement relating to the Orbital Group, the Orbital Directors, their immediate families and related trusts and persons connected with the Orbital Directors. To the best of the knowledge and belief of the Orbital Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement, for which they accept responsibility, is in accordance with the facts and does not omit anything likely to affect the import of such information. HSBC Investment Bank, which is regulated in the United Kingdom by The Securities and Futures Authority Limited, is acting exclusively for Sopheon and no one else in relation to the Offer and will not be responsible to anyone other than Sopheon for providing the protections afforded to customers of HSBC Investment Bank, or for providing advice in relation to the Offer or in relation to the contents of this announcement or any matter referred to herein. Broadview International Limited, which is regulated in the United Kingdom by The Securities and Futures Authority Limited, is acting exclusively for Orbital and no one else in relation to the Offer and will not be responsible to anyone other than Orbital for providing the protections afforded to customers of Broadview International Limited, or for providing advice in relation to the Offer or in relation to the contents of this announcement or any matter referred to herein. This announcement does not constitute an offer or an invitation to acquire or dispose of shares or securities. Additional notice to US holders of Orbital securities: The share offer by Sopheon for Orbital is an offer for the securities of a non-US company. Such offer is subject to disclosure requirements of the United Kingdom, which are different from those of the United States. Financial statements included in the Offer Document have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of US companies. It may be difficult for US holders of Orbital Shares to enforce their rights and any claim they may have arising under the US federal securities laws, since the issuer is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. US holders of Orbital Shares may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the US securities laws. It may be difficult to compel a non-US company and its affiliates to subject themselves to a US court's judgement. The Offer is not made, directly or indirectly, in or into, or by use of the mails or any means or instrumentality (including, without limitation, telex, facsimile transmission, telephone and internet) of interstate or foreign commerce of, or any facilities of a national securities exchange of, Canada, Australia, the Republic of Ireland or Japan and the Offer is not be capable of acceptance by any such use, means, instrumentality or facilities or from within Canada, Australia, the Republic of Ireland or Japan. Accordingly, copies of this announcement are not being, and must not be, mailed or otherwise forwarded, distributed or sent in or into or from Canada, Australia, the Republic of Ireland or Japan and persons (including, without limitation, custodians, nominees and trustees) must not mail or otherwise forward, distribute or send this announcement in or into or from Canada, Australia, the Republic of Ireland or Japan.

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