Microsoft Acquires Navision

Microsoft Corporation today announced that it acquires Navision a/s as a result of the successful close of the tender offer this week. Microsoft expects to purchase the shares of Navision for approximately $1.45 billion (U.S.)/1.48 billion EUR/10.97 billion DKK in stock and cash. As a result of the acquisition, Navision co-CEOs Jesper Balser and Preben Damgaard will remain within Microsoft Business Solutions, with Balser as director of Global Strategy, and Damgaard as director of Europe, Middle East, and Africa (EMEA) Operations.

COPENHAGEN, Denmark - July 11, 2002 - Microsoft Corporation today announced that it acquires Navision a/s as a result of the successful close of the tender offer this week. Microsoft expects to purchase the shares of Navision for approximately $1.45 billion (U.S.)/1.48 billion EUR/10.97 billion DKK in stock and cash.

As a result of the acquisition, originally announced on May 7, 2002, Navision will become part of Microsoft Business Solutions. Microsoft Business Solutions is led by Doug Burgum, senior vice president of Microsoft, and former chairman and CEO of Great Plains. Navision co-CEOs Jesper Balser and Preben Damgaard will remain within Microsoft Business Solutions. Balser will be director of Global Strategy, and Preben Damgaard will be director of Europe, Middle East, and Africa (EMEA) Operations. The EMEA operations will be based out of Navisions corporate headquarters in Vedbaek, Denmark.

Combining the businesses of Navision, a mid-market leader in Europe, and Microsoft Great Plains, to create Microsoft Business Solutions will produce superb business opportunities for our partners and an outstanding array of solutions for our costumers," said Burgum. Together we have people, products, and technologies to fully bring to life Microsofts mission of 'enabling people and businesses around the globe to realize their potential."
Navision partners and customers can be assured of our continued commitment and the extended value we can now offer them in existing and future solutions as part of Microsoft," said Balser.

Through a direct presence in EMEA, and working closely with our network of partners, we will be able to ensure that the needs of customers in this extensive and diverse market are met with relevant technology," said Damgaard.
Microsoft Business Solutions will continue to develop, market, and support Navisions business applications. Referred to as Microsoft Navision Axapta®, Microsoft Navision Attain®, Microsoft Navision C5® and Microsoft Navision XAL®, they join the portfolio of products currently offered by Microsoft Business Solutions.

About Microsoft Business Solutions
Microsoft Business Solutions, which includes the businesses of Great Plains®, Microsoft bCentral and Navision a/s, offers a wide range of business applications designed to help small and mid-market businesses become more connected with customers, employees, partners and suppliers. Microsoft Business Solutions applications automate end-to-end business processes across financials, distribution, project accounting, electronic commerce, human resources and payroll, manufacturing, supply chain management, business intelligence, sales and marketing management, and customer service and support. More information about Microsoft Business Solutions can be found at http://www.microsoft.com/businesssolutions.

About Microsoft
Founded in 1975, Microsoft (Nasdaq MSFT") is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software - any time, any place and on any device.