Pegasystems (PEGA) Adds $15M to Buyback Plan

Pegasystems, Inc. (NASDAQ: PEGA) announced that its Board of Directors has authorized an expansion of the Company's current share repurchase program (the "Current Repurchase Program"). Under this expansion, the expiration date of the Current Repurchase Program has been extended from December 31, 2012 to December 31, 2013, and $15 million in repurchases of the Company's common stock between December 13, 2012 and December 31, 2013 has been approved, over and above the amounts repurchased through December 12, 2012. This expansion is effective as of December 12, 2012. Through December 12, 2012, the Company had repurchased 175,946 shares under the Current Repurchase Program, for an average price of $28.41 per share.

At the Company's discretion, the purchases will be made from time to time on the open market or in privately negotiated transactions. Shares may be repurchased in such amounts as market conditions warrant, subject to regulatory and other considerations.

The Company has established a pre-arranged stock repurchase plan, intended to comply with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and of Rule 10b-18 of the Exchange Act (the "10b5-1 Plan"). Shares that are repurchased under the 10b5-1 Plan will be repurchased under the Current Repurchase Program.

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