Microsoft Acquires Navision

COPENHAGEN, Denmark, July 11, 2002 — Microsoft Corp. today announced that it has acquired Navision a/s as a result of the successful close of the tender offer this week. Microsoft expects to purchase Navision’s shares for approximately $1.45 billion (U.S.)/1.48 billion euros/10.97 billion Danish krones in stock and cash.

As a result of the acquisition, originally announced 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 with Microsoft Business Solutions. Balser will become director of global strategy, and Damgaard will become director of Europe, Middle East and Africa (EMEA) operations. The EMEA operations will be based out of Navision’s corporate headquarters in Vedbaek, Denmark.

“Combining the businesses of Navision, a midmarket 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 customers,” Burgum said. “Together, we have the people, products and technologies to bring to life Microsoft’s mission of enabling people and businesses around the globe to realize their full 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,” Balser said.

“Through a direct presence in EMEA and by 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,” Damgaard said.

Microsoft Business Solutions will continue to develop, market and support Navision’s business applications. These applications — Microsoft Navision Axapta® , Microsoft Navision Attain® , Microsoft Navision C5® and Microsoft Navision XAL®
— 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 (TM) and Navision a/s, offers a wide range of business applications designed to help small and midmarket 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.

Microsoft, Great Plains and bCentral are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

Navision, Axapta and Attain are either registered trademarks or trademarks of Navision a/s in the United States and/or other countries.

Navision a/s is a subsidiary of Microsoft Corp.

Great Plains is a wholly owned subsidiary of Microsoft Corp.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

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