SUNNYVALE, Calif., December 5, 2002 --

Date: Thursday, December 12, 2002

Time: 1:30 p.m. Pacific Time

Dial-in numbers: United States & Canada: 1-877-888-3490 International: 1-416-695-9753

WEB CAST LINK: http://www.vcall.com/EventPage.asp?ID=82860

You are cordially invited to join a Conference Call on December 12, 2002 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) at which Gary J. Sbona, chairman and chief executive officer, and key members of Verity's management team will review the operating results from our second quarter that ended November 30, 2002 and our current business outlook.

If you wish to participate, please dial in on the above referenced numbers five (5) minutes prior to the scheduled start time and ask for the Verity Quarterly Earnings Conference Call.

Alternatively, you may access the web cast of our earnings call at the above listed web site.

A replay of the Earnings Call will be available through December 27, 2002 at the above listed web site or by dialing 1-888-509-0082 (4:00 a.m. - 8:00 p.m. PT).

About Verity
Headquartered in Sunnyvale, Calif., Verity (NASDAQ:VRTY) 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 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, SAP, Siemens, Sybase, Time New Media and Timex.

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SUNNYVALE, Calif., November 13, 2002 --

Date: Wednesday, November 13, 2002
Time: 2:30 p.m. PST / 5:30 p.m. EST
Dial-in numbers: United States & Canada: 1-877-888-3855 International: 1-416-695-5259
Web Cast Link: http://www.vcall.com/EventPage.asp?ID=82744

You are cordially invited to join a Conference Call on Wednesday, November 13, 2002 at 2:30 p.m. PST (5:30 p.m. EST) during which Gary J. Sbona, Verity's chairman and chief executive officer and Anthony J. Bettencourt, Verity's president, will discuss the company's just-announced agreement to purchase enterprise search assets from Inktomi.

If you wish to participate, please dial in on the above referenced numbers five (5) minutes prior to the scheduled start time and ask for the Verity Asset Transaction Conference Call.

Alternatively, you may access the web cast of this call at the above listed web site.

A replay of the Verity Asset Transaction Call will be available through November 28, 2002 at the above listed web site or by dialing 1-888-818-4095 (Passcode: 6785).

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.

Verity and the Verity logo are registered trademarks or trademarks of Verity Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif. and FOSTER CITY, Calif., November 13, 2002 -- Verity Inc. (NASDAQ:VRTY) and Inktomi Corp. (NASDAQ:INKT) today jointly announced that they have entered into an agreement under which Verity will purchase Inktomi's enterprise search software business. Under the terms of the deal, Verity, a leading provider of infrastructure software that powers corporate intranets and e-commerce sites as well as OEM technology used in more than 250 e-business applications, will acquire from Inktomi, a leading provider of Web search and enterprise information retrieval solutions, the assets relating to Inktomi's enterprise search software business, which includes basic search, categorization and content refinement capabilities, as well as its XML technology assets. Verity will pay a purchase price of $25 million in cash, and will also assume Inktomi's obligations under certain existing enterprise search business contracts, including customer support obligations. In addition, Verity intends to offer employment to selected development, sales and marketing, and support personnel from Inktomi's enterprise search business unit. The companies currently anticipate closing the transaction in the next 30 to 60 days, subject to the satisfaction of customary closing conditions.

"With this transaction, we continue to extend our product offerings to meet the needs of our enterprise customers," said Gary J. Sbona, Verity's chairman and CEO. "The assets and customers Verity will be acquiring should enable us to better compete across the full spectrum of the enterprise search market and in key geographies around the globe, while continuing to build upon our business success. As the needs of these customers grow, we can provide them with a logical migration path to our advanced product portfolio."

"This action involves a technology and a market segment that Verity understands thoroughly," said Anthony J. Bettencourt, Verity's president. "By adding a complementary basic search product and a highly successful inside sales process, Verity extends its core competencies across the enterprise information retrieval market and becomes better able to take advantage of revenue opportunities at a new level."

"Verity will provide continued product development and support for enterprise search customers, enabling Inktomi's customers to maximize the return-on-investment in their information retrieval products," said David Peterschmidt, Inktomi's president and CEO. "Inktomi is the leading provider of OEM Web search and paid inclusion services and we see strong opportunities ahead in a growing Web search market. We will be able to apply the proceeds from this transaction to an increased focus on our core Web search business and accelerate our move toward becoming cash flow and EBITDA positive."

Verity anticipates the transaction will be accretive to earnings per share within the first six months following closing. Under the terms of the parties' agreement, Verity will gain access to Inktomi's customer base of 2,500 companies worldwide, significantly broadening Verity's installed base of enterprise customers.

Conference Call:
Verity will host a conference call on Wednesday, November 13, 2002 at 2:30 p.m. PST to discuss the transaction. The call can be heard via Webcast accessed through the Investor Relations section of Verity's Web site: www.verity.com or by dialing into 1-877-888-3855 (US and Canada) and 1-416-695-5259 (International). The Webcast will also be archived on the Verity Web site, along with the transcript of the call.

Serving as financial advisor and legal counsel to Verity in this transaction were SG Cowen and Cooley Godward, respectively. Representing Inktomi were Credit Suisse First Boston and Skadden, Arps, Slate, Meagher & Flom LLP.

About Inktomi
Based in Foster City, Calif., Inktomi is a leading provider of Web search and enterprise information retrieval products. The company that pioneered Web search, Inktomi is the market-leading OEM provider of search and services such as paid inclusion programs for leading consumer portals, Internet destinations and e-commerce sites worldwide. On Nov. 13, 2002, Inktomi announced a definitive agreement to sell its enterprise search business to Verity, Inc.

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.

Forward-Looking Statements:
The statements in this press release regarding the benefits Verity expects to obtain from the acquisition, including its expectations that the acquisition will be accretive, the potential benefits of Inktomi products and its potential employment of Inktomi personnel and utilization of Inktomi product and technologies, are forward-looking statements that involve a number of uncertainties and risks. The success of the acquisition and benefits Verity ultimately obtains may differ from Verity's expectations. Such uncertainties and risks include, without limitation: the potential failure of Verity or Inktomi to satisfy or waive the closing conditions for the acquisition (in which case the acquisition may not close); potential difficulties and uncertainties in the assimilation of technologies, methodologies and products of Inktomi into Verity's products; the risk of loss of key personnel Verity expects to hire from Inktomi; diversion of management attention from other business concerns; and the risk that the integration of the potential benefits of Inktomi technology and personnel into Verity will not be successful due to company culture or other issues. As a result actual results may differ substantially from expectations. For further information on risks affecting Verity, refer to the section entitled "Risk Factors" in Verity's most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Verity undertakes no obligation to update the information in this press release.

This press release contains forward-looking statements regarding Inktomi's future financial and operating results and benefits to Inktomi and its customers derived from the sales of its enterprise search business. These statements are based on current expectations and are subject to a number of risks and uncertainties. Actual results could differ materially from those projected in any forward-looking statements. Factors that could affect Inktomi's financial and operating results and other forward looking statements contained in this release include the potential failure of Verity or Inktomi to satisfy the closing conditions for the acquisition; risks of costs and delays related to the sale of the assets of the enterprise search business; dependency on a small number of portal customers in the Web search business; substantial competition; risks related to the consolidation of operations and reductions in force; dependency on future revenue from a single business unit with limited service offerings; changing buying patterns of customers and potential customers; need to develop, acquire and release new products and technologies; and risks associated with acquisitions, dispositions, strategic alliances, international operations and product release dates. For more information and additional risk factors regarding Inktomi generally see "Factors Affecting Operating Results" contained in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2002 and in other reports filed by Inktomi with the Securities and Exchange Commission. Inktomi expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any statements in this release.

Verity and the Verity logo are registered trademarks or trademarks of Verity Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., October 14, 2002 -- Verity Inc. (NASDAQ:VRTY), a leading provider of infrastructure software that powers corporate intranets and e-commerce sites as well as e-business applications, today announced its vice president and chief technology officer, Dr. Prabhakar Raghavan, will join a distinguished list of speakers at the World Knowledge Forum (WKF), to be held Oct. 15-18, 2002, at the Grand Hilton in Seoul, South Korea.

Dr. Raghavan will present the "Tools of Knowledge Management" on Friday, Oct. 18th from 12:40 to 2:10 p.m. He will discuss how to maximize the value of an organization's intellectual capital with a knowledge management system and will examine current and future technologies to build knowledge-based organizations.

During his presentation, Dr. Raghavan will focus specifically on the challenges enterprises face in organizing and searching vast quantities of information. He will address how enterprises can achieve an efficient and secure knowledge management system by implementing the top three key enabling features of an enterprise portal which, according to Forrester Research, are: search (discovery), taxonomy (organization) and personalization (bringing people's expertise into the knowledge system).

Dr. Raghavan has more than 15 years of experience in creating innovative Web and security technologies, including 14 years at IBM in a variety of technical and managerial positions. Dr. Raghavan also is a consulting professor of computer science at Stanford University, and has also taught at Yale. He holds a Ph.D. from the University of California at Berkeley and is a Fellow of the Association for Computing Machinery (ACM) and the Institute of Electrical and Electronics Engineers (IEEE).

Hosted by the Maeil Business Newspaper, Korea's leading business media group, the World Knowledge Forum's goal is to bridge the knowledge divide between advanced countries and developing ones. Under the 2002 theme of "Knowledge in a World of Risk: A Compass Towards New Prosperity," participants will take part in discussions on subjects ranging from an analysis of the challenges facing the U.S. economy to corporate management in times of uncertainty to predictions on new management practices of the future.

"The World Knowledge Forum is the foremost conference on a wide range of regional and global business issues," said Dr. Chang Dae-Whan, World Knowledge Forum executive chairman. "The WKF has welcomed many high-profile, global business and political leaders to Asia, including Bill Gates, Donald Johnston, Lester Thurow, Rajat Gupta, Paul Krugman and Peter Martin. Through lively discussion and lectures, this year's speakers will offer their views of what the future holds for Asia and the rest of the world."

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 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, SAP, Siemens, Sybase, Time New Media and Timex.

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SUNNYVALE, Calif., September 18, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, today announced the elimination of about 50 positions within the company, or about a 12 percent reduction. This move is being made at this time in order to reduce operating expenses and to position the company to achieve its goal of continued profitability. This action is consistent with the revenue and profitability projections Verity made on its quarterly earnings call on September 12, 2002.

"Verity is acting now to adjust its organizational and expense structure to better deal with the effects of the challenging economic climate in which we continue to operate," said Gary J. Sbona, chairman and CEO, Verity, Inc. "We appreciate the contributions made by the people affected by this reduction. This is a difficult move to make, but one which was necessary, in order to reduce expenses and to position the company to maintain profitability going forward."

The employees affected by this staffing reduction were located in the United States and Canada.

Verity does not expect any material impact from this action on earnings in its second fiscal quarter, ending November 30, 2002. The net benefit from this action will be seen in terms of reduced operating expenses, beginning in Verity's third fiscal quarter ending February 28, 2003.

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 80 percent of the Fortune 50 and by more than 1,500 organizations in the public and private sectors. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.

Forward-Looking Statements
The statements in this press release with respect to the effect that the elimination of positions is expected to have on Verity's financial results, and the consistency of these statements with Verity's September 12, 2002 projections, are forward-looking statements. Actual financial results could differ materially as a result of many factors, including: these expectations and beliefs are based on assumptions that may not prove to be accurate, including the timing and magnitude of the expenses incurred as a result of the elimination of the jobs, and future demand for Verity's products may not be as strong as Verity predicts; many of Verity's product orders are large, and a delay in closing a large sale during a quarter or at the end of the fiscal year could materially reduce Verity's revenues for that period; transactions accounting for a disproportionate percentage of Verity's quarterly revenues are frequently closed in the last few weeks or days of a quarter and, accordingly, even a slight delay in the closing of some of these transactions could materially reduce Verity's revenues for that period; Verity incurs expenses based upon anticipated revenues and, consequently, if the revenues are less than anticipated, Verity will have lower gross margins and operating results; if competitors develop new products that compete favorably against Verity's products, sales of Verity's products will be less than projected; and a portion of Verity's sales are in the international market, which exposes Verity to currency fluctuation and other risks. These and other risks relating to Verity and its business and products are as set forth under the caption "Risk Factors" at the end of Item 1 of Verity's Form 10-K filed with the Securities and Exchange Commission.

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SUNNYVALE, Calif., September 12, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, today reported financial results for its first fiscal quarter ended August 31, 2002. Verity's revenues for its first quarter were $22.0 million, representing a 9% increase over revenues of $20.1 million for the same period last year. Software product revenues, which represented 56% of total revenues for the quarter, were $12.3 million, a 20% increase from the $10.3 million for the same period last year. Net income for the quarter was $1.4 million, or $0.04 per diluted share, compared with a net loss of $2.5 million, or $0.07 per share, for the same period last year.

"First quarter results were in line with the projections we provided on September 3, 2002," said Gary J. Sbona, Verity's chairman and chief executive officer. "As we indicated at that time, we believe that Verity's long-term prospects for growth and profitability continue to be strong. While global economic conditions remain challenging, our goal at Verity continues to be maximizing long-term shareholder value, by developing and delivering industry leading products, by prudently managing our expenses and by constantly focusing on sales execution."

Customer Activity
During the period, Verity realized sales from a range of world-class companies in the banking and financial services, high technology, professional services, and telecommunications industries. First quarter wins include Alcoa, Boeing, Caterpillar, CSFB, Diageo PLC, Dupont, Eastman Kodak, Home Depot, Pfizer, Standard Life, Unocal, Verizon, Wells Fargo and others.

The company extended its position in the OEM market for enterprise search and categorization software technology by way of new or extended licensing agreements achieved with Plumtree, Stellent, TrendMicro and others.

Business Outlook
Based on current economic conditions, Verity is projecting second quarter revenues between $21 million and $23 million with continued profitability.

Operating Results Conference Call Scheduled
During a conference call, scheduled for Thursday, September 12, 2002 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time), Gary J. Sbona, chairman and chief executive officer, and key members of Verity's management team will review the operating results from the Company's first quarter that ended August 31, 2002 and Verity's current business outlook.

To participate, dial 1-888-789-0089, in the United States or Canada, or 1-416-695-6120 (International) five (5) minutes prior to the scheduled start time.

Alternatively, investors may access the web cast of Verity's earnings call at: http://www.vcall.com/EventPage.asp?ID=82280 .

A replay of the operating results call will be available through September 27, 2002 at the above listed Web site or by dialing 1-888-509-0082, 4 a.m. to 8 p.m. PT.

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, SAP, Siemens, Sybase, Time New Media and Timex.

Forward-Looking Statements
The statements in this press release regarding Verity's beliefs regarding its long term prospects for growth and profitability, how it intends to maximize long-term shareholder value, and under the heading "Business Outlook," are forward-looking statements. Actual financial results could differ materially as a result of many factors, including: these expectations and beliefs are based on assumptions that may not prove to be accurate, including the future demand for Verity's products may not be as strong as Verity predicts; many of Verity's product orders are large, and a delay in closing a large sale during the second quarter could materially reduce Verity's revenues for that period; transactions accounting for a disproportionate percentage of Verity's quarterly revenues are frequently closed in the last few weeks or days of a quarter and, accordingly, even a slight delay in the closing of some of these transactions could materially reduce Verity's revenues for that period; Verity incurs expenses based upon anticipated revenues and, consequently, if the revenues are less than anticipated, Verity will have lower gross margins and operating results; if competitors develop new products that compete favorably against Verity's products, sales of Verity's products will be less than projected; and a portion of Verity's sales are into the international market, which exposes Verity to currency fluctuation and other risks. These and other risks relating to Verity and its business and products are as set forth under the caption "Risk Factors" in Item 1 of Verity's latest Form 10-K filed with the Securities and Exchange Commission.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., September 9, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software that powers corporate intranets and e-commerce sites as well as e-business applications, today announced that vice president of marketing Mike Zuckerman will be a featured speaker at the Documentum Worldwide User Conference, Momentum 2002.

The presentation will be held on Thursday, Sept. 12, 2002, from 9:30 to 10:30 a.m. at the Walt Disney World Swan and Dolphin Hotel in Lake Buena Vista, Florida.

In his presentation, entitled "Delivering Portal ROI via Content and Knowledge," Zuckerman will discuss how enterprise users can find and organize business-critical content in corporate portals and increase the value and visibility of this content. Mike Rogers, associate director, information architecture for Bristol-Myers Squibb, will co-present a user case study on a joint Documentum and Verity implementation and discuss the anticipated benefits of the combined Documentum - Verity K2 Enterprise (K2E) technologies. Verity K2E is a leading software solution that fully integrates the three tiers of knowledge management infrastructure: search, taxonomy and personalization.

"Verity has been Documentum's premier search partner for many years. Our joint customers greatly benefit from Verity's enhanced search and categorization capabilities, as well as Documentum's leading content authoring and publication features," said Anthony J. Bettencourt, Verity's president. "Mr. Zuckerman's presentation will give conference attendees an outstanding opportunity to hear about the benefits of a joint Documentum/Verity implementation."

With more than 20 years of experience in sales and marketing, Zuckerman manages the worldwide marketing activities for Verity. Prior to joining Verity, Zuckerman served as a senior executive at several corporations including Sensar, Inc., a provider of network security products for internal networks and Internet access and LocalEyes Corporation, an Internet search and directory service company. Zuckerman has also held key management positions at FileTek, Inc., ABSS, Inc., Convergent Technologies, Harris Corporation, and Data General. He holds a bachelor's degree in electrical engineering from the University of Maryland.

About Momentum 2002: Documentum Worldwide User Conference
The Documentum Worldwide User Conference will be held Sept. 9-12, 2002, in Disney World in Orlando, Fla. Customers and partners come together at the Documentum Worldwide User Conference to exchange knowledge and share ideas. Momentum 2002 will offer attendees the first look at Documentum 5, the company's new, next-generation ECM platform, which will be showcased in more than 16 tracks of sessions, during pre-conference tutorials and special breakout presentations, and a live demonstration in the conference's opening keynote address. Information about the conference is located at http://www.momentumlive.com.

About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of infrastructure software. that 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 software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications

Verity products are used by approximately 80 percent of the Fortune 50 and by more than 1,500 organizations in the private and public sectors. 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, SAP, Siemens, Sybase, Time New Media and Timex.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., September 5, 2002 --

Date: September 12, 2002

Time: 1:30 p.m. Pacific Time

Dial-in numbers: United States & Canada: 1-888-789-0089 International: 1-416-695-6120

WEB CAST LINK: http://www.vcall.com/EventPage.asp?ID=82280

You are cordially invited to join a Conference Call on September 12, 2002 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) at which Gary J. Sbona, chairman and chief executive officer, and key members of Verity's management team will review the operating results from our first quarter that ended August 31, 2002 and our current business outlook.

If you wish to participate, please dial in on the above referenced numbers five (5) minutes prior to the scheduled start time and ask for the Verity Quarterly Earnings Conference Call.

Alternatively, you may access the web cast of our earnings call at the above listed web site.

A replay of the Earnings Call will be available through September 27, 2002 at the above listed web site or by dialing 1-888-509-0082 (4:00 a.m. - 8:00 p.m. PT).

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 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, SAP, Siemens, Sybase, Time New Media and Timex.

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SUNNYVALE, Calif., September 3, 2002 -- Verity Inc. (NASDAQ:VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, said today it anticipates revenues for its first quarter, which ended August 31, 2002, will be in the range of $21 million to $22 million.

Based on current revenue estimates, Verity still anticipates that it will be profitable for the first quarter. These results are preliminary, subject to the Company closing its books for the quarter and our customary quarterly financial review by our external auditors.

"While we believe that Verity's long term prospects for growth and profitability continue to be strong, the challenges of a slow summer quarter combined with the continued pressures of a difficult global economy have had an adverse impact on our financial results for the first quarter," said Gary J. Sbona, Verity's chairman and chief executive officer.

Conference call scheduled
Verity will conduct a conference call on Tuesday, September 3, 2002 at 1:30 PM Pacific Daylight Time (4:30 PM EDT) at which Gary J. Sbona, chief executive officer, and key members of Verity's management team will review this release. If you wish to participate, please dial 1-888-789-0089 (United States and Canada) or 1-416-695-5261 (International) five (5) minutes prior to the scheduled start time and ask for the Verity Conference Call.

Important Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements regarding Verity's business and its projected first quarter revenues and net income. Actual results could differ materially as a result of many factors, including: these projections are based on assumptions Verity believes to be reasonable, but these assumptions may not prove to be accurate; the estimated results are subject to change based upon adjustments, if any, of reserves, revenues and expense levels and other provisions in connection with the preparation of the Company's final financial statements for the quarter ended August 31, 2002. Other risks relating to Verity and its business and products are as set forth in Verity's Form 10-K and Form 10-Q's as filed with the Securities and Exchange Commission.

About Verity
Headquartered in Sunnyvale, Calif., 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 intranets used for sharing information within an enterprise; e-commerce sites 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 approximately 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, SAP, Siemens, Sybase, Time New Media and Timex.

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SUNNYVALE, Calif., July 22, 2002 -- Verity, Inc. (Nasdaq: VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, today announced that the Department of Defense Intelligence Information Systems (DODIIS) has integrated Verity's advanced search and notification software into its new message handling platform.

The new platform, called the Multimedia Message Manager (M3), is the DODIIS' next generation message handling system. It marks an evolution in the ability of the U.S. military's intelligence community to handle information in the form of graphics and rich-media files, in addition to text messages. M3 provides messaging services at more than 40 sites worldwide, and has the capacity to process as many as 35,000 messages at each site per day.

As the M3 messaging platform expands in the number of sites, users and messages handled, the need to make certain the right information gets delivered to the right person in the right way becomes critical. Verity's notification technology will handle this requirement. This software actively monitors all key sources across the Internet and the DODIIS' intranet and automatically filters and delivers highly personalized information to individuals and groups, based on their content and delivery preferences.

Another important aspect of the use of Verity's software within the M3 system is the ability of users to search quickly and accurately through more than 15 years' worth of stored messages, or about 20 million messages. Verity advanced search software helps users discover what they need and connect to millions of messages with the highest available security.

"The quantity of data accumulated by the Department of Defense Intelligence Information Systems is staggering," said Anthony J Bettencourt, president of Verity. "We are proud that the Department of Defense sought Verity's experience in helping major organizations in the private and public sectors improve the accessibility and navigation of information to facilitate the messaging system for the military intelligence community. With Verity's software, Military personnel not only can search for and get delivery of highly relevant messages in text format, but also in graphics and rich media formats."

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

Verity products are used by approximately 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.

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SUNNYVALE, Calif., June 20, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, today announced it is extending the stock repurchase program the company initiated last September.

The program, as approved by Verity's Board of Directors, calls for the repurchase of up to an aggregate of $50 million of its Common Stock. Since Verity initiated the repurchase program in September 2001, Verity has expended approximately $20 million to repurchase shares of its common stock under the program.

"The rationale for this repurchase program holds as true today as it did when we first announced it," said Gary J. Sbona, Verity's chairman and chief executive officer. "We continue to feel that Verity's stock is undervalued and that this repurchase program is a good investment of our available capital. Accordingly, the Board of Directors has extended the stock repurchase program through the current fiscal year, which ends May 31, 2003."

Repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market.

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 approximately 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.

The statements in this press release regarding the repurchase of Verity common stock and the expected duration of the repurchase program are forward looking statements that are subject to risks and uncertainties. Verity may repurchase all $50 million of its stock, or no further shares of its stock, or any amount in between, and lengthen or shorten the repurchase period, depending on the trading price of its common stock, market conditions, determinations following the date of this announcement to use such funds for other purposes, or for other reasons. Other risks relating to Verity can be found in Verity's latest Annual Report on Form 10-K and subsequent Form 10-Qs filed with the Securities and Exchange Commission.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., June 20, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software powering corporate intranets and e-commerce sites as well as e-business applications, today reported financial results for its fourth quarter and fiscal year ended May 31, 2002. Verity's revenues for its fourth quarter ended May 31, 2002 were $26.1 million, representing a 4% sequential increase over third quarter revenues of $25.0 million. This was a 37% decrease from revenues of $41.2 million for the same period last year. Software product revenues for the fourth quarter, which represented 63% of total revenues, were $16.4 million, a 2% sequential increase over third quarter revenues. This was a 48% decrease from the same period last year. Net income for the fourth quarter ended May 31, 2002 was $3.5 million, or $0.09 per diluted share, compared to net income of $2.3 million, or $0.06 per diluted share, in the third quarter. Net income for the fourth quarter ended May 31, 2001, was $9.2 million, or $0.25 per diluted share.

"While global economic conditions remain challenging, we are pleased with the performance Verity achieved in its fourth quarter and fiscal year," said Gary J. Sbona, Verity's chairman and chief executive officer. "Revenues were up sequentially and our performance metrics continued to improve for the third quarter in a row. Additionally, we achieved an annual profit for the fourth consecutive year, despite very difficult economic conditions which persisted throughout fiscal 2002."

For the fiscal year ended May 31, 2002, total revenues were $93.8 million, a decrease of 35% from last year. Net income for fiscal 2002 was $1.4 million, or $0.04 per diluted share, compared to net income of $33.8 million, or $0.92 per diluted share for fiscal 2001.

Customer Activity
During the period, Verity realized sales from a range of world-class companies in the banking and financial services, high technology, media and entertainment, professional services, and telecommunications industries. Fourth quarter wins include Accenture, Alcoa, Bank of America, BHP Billiton, Bristol-Meyer Squibb, Cingular, Classmates, Deloitte & Touche, Financial Times, Pfizer, SAP AG, Scholastic, Verizon and others.

The company extended its position in the OEM market for enterprise search and categorization software technology by way of new or extended licensing agreements achieved with Excelon, iManage, Interwoven, Motive Communications, Plumtree, TIBCO and others.

In addition, Verity's marketplace and technological excellence was cited in major studies issued during the company's third quarter by two widely regarded industry research and advisory firms. Gartner Research labeled Verity a "leader" in the Gartner 2002 Enterprise Search "Magic Quadrant." The META Group determined Verity to be a "Top Tier" provider of Knowledge Management solutions in a study of this category.

Business Outlook
Verity is projecting a modest sequential decrease in revenue in the first quarter of fiscal year 2003, due to a combination of historic seasonality in the summer months and an expected continuation of difficult economic conditions. Verity is projecting continued, yet lower, profitability in the first quarter than the fourth quarter of fiscal 2002. For the total fiscal year 2003, Verity is projecting revenue growth in the 15% to 20% range, and continued profitability.

Extension of Regent Pacific Agreement
Verity also announced that it has extended its management agreement with Regent Pacific Management Corporation through August 31, 2003. Under the amended agreement, Regent Pacific continues to provide the services of Gary J. Sbona as chairman and chief executive officer of Verity, and continues to provide additional Regent Pacific management services to the Company. The agreement provides Verity with an option to further extend the term of this agreement through February 2004.

Operating Results Conference Call Scheduled
During a conference call, scheduled for Thursday, June 20, 2002 at 1:30 p.m. Pacific Time (4:30 p.m. ET), Mr. Sbona and other key members of Verity's executive team will review the operating results for the company's fourth quarter ended May 31, 2002, and its current business outlook.

To participate, dial 1-877-888-3490, in the United States or Canada, or 1-416-695-9753 (International) five (5) minutes prior to the scheduled start time.

Alternatively, investors may access the web cast of Verity's earnings call at: http://www.vcall.com/EventPage.asp?ID=81752

A replay of the operating results call will be available through July 5, 2002 at the above listed Web site or by dialing 1-888-509-0082, 4am to 8pm PT.

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 approximately 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.

Forward-Looking Statements
The statements in this press release under the heading "Business Outlook" are forward-looking statements. Actual financial results could differ materially as a result of many factors, including: these expectations and beliefs are based on assumptions that may not prove to be accurate, including the future demand for Verity's products may not be as strong as Verity predicts; many of Verity's product orders are large, and a delay in closing a large sale during the first quarter or the at the end of the fiscal year could materially reduce Verity's revenues for that period; transactions accounting for a disproportionate percentage of Verity's quarterly revenues are frequently closed in the last few weeks or days of a quarter and, accordingly, even a slight delay in the closing of some of these transactions could materially reduce Verity's revenues for that period; Verity incurs expenses based upon anticipated revenues and, consequently, if the revenues are less than anticipated, Verity will have lower gross margins and operating results; if competitors develop new products that compete favorably against Verity's products, sales of Verity's products will be less than projected; and a portion of Verity's sales are into the international market, which exposes Verity to currency fluctuation and other risks. These and other risks relating to Verity and its business and products are as set forth in Verity's latest Form 10-K and Form 10-Q's as filed with the Securities and Exchange Commission.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., June 12, 2002 --

Date: Thursday, June 20, 2002

Time: 1:30 p.m. Pacific Time

Dial-in numbers: United States & Canada: 1-877-888-3490 International: 1-416-695-9753

Web Cast Link: http://www.vcall.com/EventPage.asp?ID=81752

You are cordially invited to join a Conference Call on Thursday, June 20, 2002 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) at which Gary J. Sbona, chief executive officer, and key members of Verity's management team will review the operating results from our fourth quarter and fiscal year that ended May 31, 2002 and our business outlook for fiscal year 2003.

If you wish to participate, please dial in on the above referenced numbers five (5) minutes prior to the scheduled start time and ask for the Verity Quarterly Earnings Conference Call.

Alternatively, you may access the web cast of our earnings call at the above listed web site. A replay of the Earnings Call will be available through July 5, 2002 at the above listed web site or by dialing 1-888-509-0082 (4:00 a.m. - 8:00 p.m. PT).

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, American Greetings, 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.

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SUNNYVALE, Calif., May 6, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software that powers corporate portals and e-commerce sites as well as e-business applications, today announced that senior architect Mani Abrol will be a featured speaker at the 11th International World Wide Web (WWW2002) Conference.

The presentation will be held on Thursday, May 9, 2002, from 3:30 to 4:15 p.m. at the Sheraton Waikiki Hotel in Honolulu, Hawaii.

In her speech, "Social Networks for Enterprise Webs," Abrol will cover the benefits enterprises can gain from leveraging Social Networks technologies. Social Networks have been exploited on the Web in specific applications, resulting in an improved online experience for its users. However, Web-derived methods are not directly applicable to enterprise settings. Abrol will explain how the technologies that have shaped the Web are different than the ones needed in an enterprise setting. According to Abrol, enterprises must make use of Social Networks technologies to take advantage of human expertise, operate more effectively and gain competitive advantage. She will also show how Verity has incorporated Social Networks technologies into its K2 Enterprise software.

"The development team's work in Social Networks has enabled Verity to take our enterprise portal infrastructure software to the next level," said Anthony J. Bettencourt, Verity's president. "Verity has successfully implemented Social Networks technologies, including personalization, recommendation and expertise location, into its software, along with advanced search and content organization capabilities. Our premise is that an enterprise knowledge management system must bring into play the human element as well as the machine element to be successful."

Abrol completed her bachelor's degree in electronics and electrical communications in 1993 from Punjab Engineering College, Chandigarh, India. She received her master's degree in computer science in 1996 from the University of Maryland, Baltimore County. Prior to joining Verity in 1997, Abrol worked for Compaq (then Digital Equipment Corporation) in Maryland.

The WWW2002 conference is produced by the International World Wide Web Conference Committee (IW3C2), the University of Hawaii and the Pacific Telecommunications Council (PTC).

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 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. In addition, most leading software vendors, as part of their e-business applications, utilize Verity technology.

Verity products are used by approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, 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.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., March 13, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, today reported financial results for its third fiscal quarter ended February 28, 2002. Verity's revenues for its third quarter ended February 28, 2002 were $25.0 million, representing an 11% sequential increase over second quarter revenues of $22.6 million, and a 34% decrease from revenues of $38.0 million for the same period last year. Software product revenues for the third quarter, which represented 64% of total revenues, were $16.0 million, a 20% sequential increase over second quarter revenues, and a 44% decrease from the same period last year. Net income for the third quarter ended February 28, 2002 was $2.3 million, or $0.06 per share, compared to a reported net loss of $1.9 million, or $(0.05) per share in the second quarter. Net income for the third quarter ended February 28, 2001, was $9.2 million, or $0.25 per share, on a fully diluted basis.

"While economic conditions continue to be challenging, we are pleased with the performance Verity achieved in its third quarter," said Gary J. Sbona, Verity's chairman and chief executive officer. "Revenues were up sequentially for the second consecutive quarter, our pipeline continued to improve, and we achieved the publicly stated objective we set for ourselves last August, by returning Verity to profitability this quarter."

For the nine-month period ended February 28, 2002, total revenues were $67.7 million, a decrease of 35% from the same period last year. As reported net loss for the nine-month period ended February 28, 2002, was $2.1 million, or $(0.06) per share, compared to net income of $24.6 million, or $0.67 per share, for the same period last year.

Customer Activity
During the period, Verity realized sales from a range of world-class companies in the banking and financial services, high technology, media and entertainment, professional services, and telecommunications industries. Third quarter wins include Avaya Communications, Bank of America, Brass Ring Systems, Cap Gemini Ernst & Young, Hewlett Packard, KPMG, Linklaters, and Southwestern Bell Telephone Co.

The company extended its position in the OEM market for enterprise search and retrieval software technology by way of new or extended licensing agreements achieved with FileNET, Kana Software, OTG Software, and Plumtree.

In addition, Verity's marketplace and technological excellence was cited in major studies issued during the company's third quarter by two widely regarded industry research and advisory firms. Gartner Research labeled Verity a "leader" in the Gartner 2002 Enterprise Search "Magic Quadrant." The META Group determined Verity to be a "Top Tier" provider of Knowledge Management solutions in a study of this category.

Business Outlook
Verity is projecting modest quarterly sequential revenue and earnings growth in the fourth quarter of fiscal 2002.

Operating Results Conference Call Scheduled
During a conference call, scheduled for Wednesday, March 13, at 1:30 p.m. Pacific Standard Time (4:30 p.m. EST), Mr. Sbona and other key members of Verity's executive team will review the operating results for the company's third quarter ended February 28, 2002, and our current business outlook.

To participate, dial 1-877-888-3490, in the United States or Canada, or 1-416-695-9753 (International) five (5) minutes prior to the scheduled start time.

Alternatively, you may access the web cast of our earnings call at: http://www.vcall.com/EventPage.asp?ID=80872 .

A replay of the operating results call will be available through March 29, 2002 at the above listed Web site or by dialing 1-888-509-0082, 4 a.m. to 8 p.m. PST.

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 approximately 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, American Greetings, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, 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 Gartner's Magic Quadrant
The Magic Quadrant is copyrighted February 2002 by Gartner, Inc. and is reused with permission. Gartner's permission to print or reference its Magic Quadrant should not be deemed to be an endorsement of any company or product depicted in the quadrant. The Magic Quadrant is Gartner's opinion and is an analytical representation of a marketplace at and for a specific time period. It measures vendors against Gartner-defined criteria for a market place. The positioning of vendors within a Magic Quadrant is based on the complex interplay of many factors. Gartner does not advise enterprises to select only those firms in the Leaders segment. In some situations, firms in the Visionary, Challenger, or Niche Player segments may be the right match for an enterprise's requirements. Well-informed vendor selection decisions should rely on more than a Magic Quadrant. Gartner research is intended to be one of many information sources and the reader should not rely solely on the Magic Quadrant for decision-making. Gartner expressly disclaims all warranties, express or implied of fitness of this research for a particular purpose.

Forward-Looking Statements
This press release contains forward-looking statements regarding Verity's expectation of modest revenue and earnings growth in the fourth quarter of fiscal 2002. Actual results could differ materially as a result of many factors, including: these expectations and beliefs are based on assumptions that may not prove to be accurate, including the future demand for Verity's products may not be as strong as Verity predicts; many of Verity's product orders are large, and a delay in closing a large sale during the fourth quarter could materially reduce Verity's revenues for that period; transactions accounting for a disproportionate percentage of Verity's quarterly revenues are frequently closed in the last few weeks or days of a quarter and, accordingly, even a slight delay in the closing of some of these transactions could materially reduce Verity's revenues for the fourth quarter; Verity incurs expenses based upon anticipated revenues and, consequently, if the revenues are less than anticipated, Verity will have lower gross margins and operating results; if competitors develop new products that compete favorably against Verity's products, sales of Verity's products will be less than projected; a portion of Verity's sales are into the international market, which exposes Verity to currency fluctuation and other risks; if Verity's management is unable to manage effectively Verity's operations, identify opportunities in a timely fashion, and effectively evaluate and manage Verity's business and competitive position, Verity's results of operations and financial condition for the period will be materially and adversely affected. These and other risks relating to Verity and its business and products are as set forth in Verity's latest Form 10-K and Form 10-Q's as filed with the Securities and Exchange Commission.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective owners.

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SUNNYVALE, Calif., March 12, 2002 -- Verity, Inc. (NASDAQ:VRTY), a leading provider of infrastructure software that powers enterprise and e-commerce portals as well as e-business applications, announced that it will make a presentation at the Lehman Brothers' (NYSE:LEH) Second Annual Global Software Conference at 8:30 a.m. PST, Wednesday, March 13. The investment conference will be held at The Ritz Carlton in Half Moon Bay, CA.

Anthony Bettencourt, Verity's president, will offer the company's view of the software market in which it competes, its approach for extending category leadership, and evidence of how its innovative technology is helping customers solve business problems and realize measurable return on investment.

"Business, on a global scale, is in the throes of great change," commented, Anthony J. Bettencourt, president of Verity, Inc. "This conference is an excellent opportunity for Verity to explain how its technology can effectively help organizations successfully deal with that change to investors interested in our software marketplace."

Lehman Brothers, a leading global investment bank, is hosting this conference for investors seeking a better sense of the global software industry. Verity is one of a select group of software companies given the opportunity to make presentations to conference participants.

About Lehman Brothers
Lehman Brothers, an innovator in global finance, focuses on serving the corporations, governments and municipalities, institutional clients and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private equity, and private client services. The Firm is headquartered in New York, London, and Tokyo and operates a network of offices around the world.

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, American Greetings, AT&T, Cap Gemini Ernst & Young, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, 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.

Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc. All other trademarks are the property of their respective.

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