Verity Executive Prabhakar Raghavan Inducted as an ACM Fellow

Verity Vice President & CTO Honored for Contributions to Computer Science and Information Technology

SUNNYVALE, CA - 2002-01-16 - Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today announced that Vice President and Chief Technology Officer Dr. Prabhakar Raghavan has been recognized as an ACM (Association for Computing Machinery) Fellow for his achievements in computer science and information technology.

"Dr. Raghavan joins intellectual leaders from the world's leading academic institutions and research and development laboratories," said Dr. James Horning, Chairman of the ACM Fellows Committee. "His contributions to the theory and practice of randomized algorithms earned him membership in this distinguished group."

As a new ACM Fellow, Dr. Raghavan joins a list of exceptional colleagues to whom ACM and its members look for guidance and leadership in the rapidly evolving world of information technology. Dr. Raghavan is honored for his role as an industry leader and for his contributions to educational programs and teaching excellence, which have had remarkable impacts on the professional development of individuals in the field.

In addition to his role at Verity, Dr. Raghavan is a Consulting Professor of Computer Science at Stanford University. He is the author of over 100 papers in various fields - including algorithms, optimization, Web search and databases - and has taught courses at leading universities around the world. Dr. Raghavan serves on the editorial boards of several prestigious scientific journals, including the Journal of the ACM, ACM Transactions on Internet Technology and the SIAM Journal on Computing, and he is Chair of the IEEE Technical Committee on Mathematical Foundations of Computing.

Dr. Raghavan´s extensive experience in developing knowledge management technologies has helped Verity to build products and services that establish the company as a market and technology leader in business portal infrastructure software. He has been instrumental in developing Verity's vision of Social Networks and advanced capabilities such as automatic classification.

Prior to joining Verity in March 2000, Dr. Raghavan headed IBM's Computer Science Principles department as well as its Clever project on Web search and mining. Dr. Raghavan holds a Ph.D. from the University of California at Berkeley and an undergraduate degree in electrical engineering from IIT in Madras.

ACM will formally recognize the new members at its annual Awards Banquet on April 27, 2002, in Toronto. Additional information about the 2001 ACM Fellows as well as previous ACM Fellows and award winners is available at www.acm.org/awards. Council established the ACM Fellows Program in 1993 to recognize and honor outstanding ACM members for their achievements in computer science and information technology and for their significant contributions to the mission of the ACM.

About Verity

Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise; e-commerce portals for online selling; and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.

Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, Cap Gemini Ernst & Young, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software market.

About ACM

The Association for Computing Machinery (ACM) is a major force in advancing the skills of information technology professionals and students. ACM, the first society in computing, serves its global membership by delivering cutting edge technical information and transferring ideas from theory to practice. With its world-class journals and magazines, dynamic special interest groups, numerous conferences, workshops, electronic forums and the new Portal and Digital Library, ACM is a primary resource to the information technology field. For additional information about ACM and the ACM Portal, see www.acm.org.

For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.

Verity Editorial Contacts

Channing Barringer

Edelman PR Worldwide

212-642-7716

channing.barringer@edelman.com

ACM Editorial Contact:

Virginia Gold

ACM

212-626-0505

v_gold@acm.org

Winifred Shum

Verity, Inc.

408-542-2363

wshum@verity.com

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