Concerto Software stockholders approve merger with Melita International

Concerto Software, Inc, a proven provider of customer interaction management (CIM) solutions, today announced that its stockholders have approved the agreement and plan of merger (the "merger agreement") by and among Concerto Software, Melita International Ltd and Bach Merger Sub, Inc, a wholly-owned indirect subsidiary of Melita International Ltd.

Upon the closing of the acquisition, Bach Merger Sub will merge with and into Concerto Software and Concerto Software will cease to be a publicly held company.

In connection with the merger, each share of Concerto Software common stock outstanding at the effective time of the merger (other than certain shares held by a director and shares held by stockholders who have exercised appraisal rights in accordance with Delaware law) will be converted into the right to receive $12 per share in cash. The closing of the merger is subject to the satisfaction of the terms and conditions to closing set forth in the merger agreement.

The parties intend to consummate the merger as soon as practicable following the satisfaction of these closing conditions, which the parties expect to occur on or about Monday, 9 February 2004. Concerto Software common stock will no longer trade on the Nasdaq National Market effective as of the close of business on the closing date. Shortly after the effective time of the merger, Concerto Software`s common stockholders will be receiving instructions for redeeming their common stock in the form of a letter of transmittal from the paying agent for this transaction.

The merger was valued at approximately $145.2 million and will be financed by Golden Gate Capital and Oak Investment Partners, both private equity firms and majority holders of Melita International Ltd, the indirect parent of Melita International, Inc, a global provider of products and services focused on maximizing contact centre effectiveness. Melita International intends to combine the businesses of Concerto Software and Melita following the merger and operate them together as Concerto Software, Inc.