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EXHIBIT 99.1
AGREEMENT BAAN COMPANY AND BEAR ▇▇▇▇▇▇▇
BARNEVELD, THE NETHERLANDS AND HERNDON, VIRGINIA -MAY 4, 2000 - Baan Company has
received inquiries about the put agreement with Bear ▇▇▇▇▇▇▇ International Ltd.
We wish to clarify that under this agreement and subject to certain conditions,
Baan may put shares of its common stock to Bear ▇▇▇▇▇▇▇ as often as every three
trading days.
The agreement gives Bear ▇▇▇▇▇▇▇ the option, on a case-by-case basis, to decline
to close on any put if the share price drops below a certain level. However,
Bear ▇▇▇▇▇▇▇ has agreed to waive that requirement for puts that have been
exercised to date, and will continue to address future puts with Bear ▇▇▇▇▇▇▇ on
a case-by-case basis going forward as needed.
ABOUT BAAN COMPANY
Founded in 1978, Baan Company (NASDAQ: BAANF; ASE: BAAN) is a global provider of
enterprise business solutions. Baan Company offers a comprehensive portfolio of
integrated services and best-in-class, component-based applications that span an
organization's entire value chain including E-Business and Web Commerce,
Customer Relationship Management, Enterprise Resource Planning, Supply Chain
Management, and Corporate Knowledge Management. Deployed at more than 15,000
customer sites worldwide, Baan Company solutions enable organizations to drive
strategic business growth, improve business processes, reduce operating
complexity, and increase corporate flexibility.
Baan Company has dual headquarters in Barneveld, The Netherlands and Herndon,
Virginia, USA and can be found on the World Wide Web at ▇▇▇.▇▇▇▇.▇▇▇.
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Statements in this press release using the words "believes," "expects,"
"anticipates," and the like are forward-looking statements within the meaning of
the Securities Exchange Act of 1934, as amended, and as such are subject to a
number of risks and uncertainties that could significantly affect outcomes.
Actual outcomes, therefore, may differ materially from the expectations,
estimates, or assumptions expressed in or implied by any such statements.
Typical risks and uncertainties may be reviewed in the Baan Company's public
filings on file with the U.S. Securities and Exchange Commission (including its
most recent Form 20-F and 6-K).
"Baan" is a registered trademark of Baan Company, and any trade, product, or
service name referenced in this release using the name "Baan" is a trademark
and/or property of Baan Company. All other company, product, and service names
may be trademarks of their respective owners.
FOR MORE INFORMATION, PLEASE CONTACT:
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Baan Company Press Room
▇▇▇ (▇)▇▇▇ ▇▇▇ ▇▇▇
▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇-▇▇▇▇▇▇▇ (for Baan Company)
▇▇ ▇▇▇ ▇▇▇-▇▇▇▇
▇▇▇▇▇@▇▇▇▇.▇▇▇
