Corporate Portal Software Provider Prices Stock at $8.50 Per Share

SAN FRANCISCO, CA, June 3, 2002—Plumtree Software today announced the initial public offering of 5,000,000 shares of its common stock at a price of $8.50 per share. All of the shares are being offered by the company. The common stock is expected to begin trading tomorrow, June 4, on the Nasdaq National Market under the symbol "PLUM."

Plumtree develops, markets and sells corporate portal software and related services for enterprises.

Goldman, Sachs & Co., JPMorgan and RBC Dain Rauscher Inc., a member of RBC Capital Markets, are the representatives of the of the underwriters. Plumtree has granted the underwriters an option to purchase up to 750,000 additional shares of stock to cover over-allotments, if any.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. The offering of these securities shall be made only by means of the prospectus contained in such effective Registration Statement. This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the prospectus relating to these securities may be obtained from the office of Goldman, Sachs & Co., Prospectus Department at 85 Broad Street New York, NY 10004; JPMorgan, Prospectus Library at 277 Park Ave., New York, NY 10172; and RBC Dain Rauscher Inc., a member company of RBC Capital Markets, Syndicate Desk at 60 South 6th Street, Minneapolis, MN 55402.

Press Contact
Laura Nusbaum
Plumtree Software
415-399-2545
laura.nusbaum@plumtree.com