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<table border=0 valign=top width=475 height=356 cellpadding=0 cellspacing=0>
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<td width=275 height=26 colspan=2><font face=Arial color="#0c2577" size=4><b>SERENA</b></font><font
face=Arial color="#0c2577" size=2><b>™</b></font><font face=Arial
color="#0c2577" size=4><b> Software, Inc</b><b><i>.</i></b></font><br>
</td>
</tr>
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<td width=97 height=18><font face=Arial color="#0c2577" size=3><b><i>At a
glance</i></b></font><br>
</td>
<td width=178 height=18></td>
</tr>
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</td>
<td width=160 height=43></td>
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<td width=475 height=41 colspan=7></td>
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<td width=273 height=189 colspan=2 rowspan=2>
<table border=0 valign=top cellpadding=0 cellspacing=0>
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<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=118 height=19 colspan=2><font face=Arial color="#0c2577" size=2><b>Founded
1980;</b></font><br>
</td>
<td width=137 height=19 colspan=8></td>
</tr>
<tr>
<td width=18 height=19></td>
<td width=135 height=19 colspan=4><font face=Arial color="#0c2577" size=2><b>NASDAQ
- SRNA</b></font><br>
</td>
<td width=120 height=19 colspan=6></td>
</tr>
<tr>
<td width=273 height=4 colspan=11></td>
</tr>
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<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=166 height=19 colspan=6><font face=Arial color="#0c2577" size=2><b>Strong
R&amp;D Heritage</b></font><br>
</td>
<td width=89 height=19 colspan=4></td>
</tr>
<tr>
<td width=273 height=3 colspan=11></td>
</tr>
<tr>
<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=174 height=19 colspan=7><font face=Arial color="#0c2577" size=2><b>2,750+
customer sites</b></font><br>
</td>
<td width=81 height=19 colspan=3></td>
</tr>
<tr>
<td width=273 height=4 colspan=11></td>
</tr>
<tr>
<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=131 height=19 colspan=3><font face=Arial color="#0c2577" size=2><b>Global
Presence</b></font><br>
</td>
<td width=124 height=19 colspan=7></td>
</tr>
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<td width=273 height=4 colspan=11></td>
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<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=164 height=19 colspan=5><font face=Arial color="#0c2577" size=2><b>Financially
solid and</b></font><br>
</td>
<td width=91 height=19 colspan=5></td>
</tr>
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<td width=18 height=19></td>
<td width=178 height=19 colspan=8><font face=Arial color="#0c2577" size=2><b>consistently
profitable</b></font><br>
</td>
<td width=77 height=19 colspan=2></td>
</tr>
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<td width=273 height=4 colspan=11></td>
</tr>
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<td width=18 height=19><font face=Arial color=red size=2>•</font></td>
<td width=185 height=19 colspan=9><font face=Arial color="#0c2577" size=2><b>Exclusively
focused on</b></font><br>
</td>
<td width=70 height=19></td>
</tr>
<tr>
<td width=18 height=19></td>
<td width=255 height=19 colspan=10><font face=Arial color="#0c2577" size=2><b>Enterprise
Change Management</b></font><br>
</td>
</tr>
</table>
</td>
<td width=170 height=46 colspan=2></td>
</tr>
<tr>
<td width=3 height=143></td>
<td width=6 height=183 rowspan=2><img src="v3_master03_image009.gif"
border=0 width=6 height=183
alt="Text Box: Copyright ©2000 - 2002, SERENA Software, Inc. ALL RIGHTS RESERVED, 2-2002&#13;‹footer›"></td>
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