Rational Announces Preliminary Revenue and Earnings Expectations for the First Quarter of Fiscal 2003

7/2/2002 - Rational Software Corporation® (Nasdaq: RATL), today announced that, based on preliminary analysis, the company expects to report revenues for the quarter ending June 30, 2002 of between $150 million and $154 million, and pro-forma earnings in the range of $0.03 to $0.04 per share. Prior to this announcement, the company had forecasted revenue to be in the range of $160 million to $170 million and pro-forma earnings in the range of $0.05 to $0.06 per share. Management will provide revenue and earnings guidance for the remainder of fiscal year 2003 on the regularly scheduled first quarter earnings conference call on July 18, 2002.

Management will host a conference call to review today's announcement beginning at 2:00 p.m. Pacific Time, 5:00 p.m. Eastern Time today, July 1, 2002. Domestic parties may access the call by dialing 1-800-230-1059. International parties may access the call by dialing 1-612-234-1002. The pass code for both dial-in numbers is RATIONAL.

For those unable to participate in the live call, a replay will be available at 1-800-475-6701 for domestic callers and 1-320-365-3844 for international callers. The access code is 644289.

About Rational Software Corporation
Rational Software provides a software development platform that improves the speed, quality, and predictability of software projects. This integrated, full lifecycle solution combines software engineering best practices, market-leading tools, and professional services. Ninety-six of the Fortune 100 rely on Rational tools and services to build better software, faster. This open platform is extended by partners who provide more than 500 complementary products and services. Founded in 1981, Rational is one of the world's largest software companies, with revenues of $689.8 million in its twelve months ended March 31, 2002, and over 3,500 employees worldwide. Rational is a member of the S&P 500 Index and a component of the Nasdaq-100 Index®. Additional information is available at www.rational.com and www.therationaledge.com, the monthly e-zine for the Rational community.

This press release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements contained herein include statements relating to our financial and operating results for the quarter ended June 30, 2002. Factors that could cause actual results to differ materially from those described herein include, among other factors, the process of calculating and reviewing the final financial results for the quarter and those items set forth in the reports filed by Rational Software with the Securities and Exchange Commission. Rational Software is under no obligation to (and expressly disclaims any such obligation to) further update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Rational and the Rational logo, among others, are trademarks or registered trademarks of Rational Software Corporation in the United States and/or in other countries. All other names are used for identification purposes only and are trademarks or registered trademarks of their respective companies.

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