---



Exhibit 99

COGNOS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS
(US$000s except share amounts, CDN GAAP)
(Unaudited)

|                                             | Three months ended

November 30, | Nine months ended

November 30,
|-------------------------------------------- | -------------------------------- | -------------------------------
|                                            
|                                             | 2002                             | 2001                           
|                                            
|Revenue                                      |                                  |                                
|Product license                              | $ 62,223                         | $ 59,114                       
|Product support                              | 52,853                           | 44,578                         
|Services                                     | 22,998                           | 20,489                         
|                                            
|Total revenue                                | 138,074                          | 124,181                        
|                                            
|Operating expenses                           |                                  |                                
|Cost of product license                      | 722                              | 847                            
|Cost of product support                      | 5,240                            | 3,825                          
|Selling, general, and administrative         | 87,060                           | 86,863                         
|Research and development                     | 18,264                           | 17,579                         
|Investment tax credits                       | (2,179)                          | (1,099)                        
|Special charges                              | -                                | -                              
|                                            
|Total operating expenses                     | 109,107                          | 108,015                        
|                                            
|Operating income                             | 28,967                           | 16,166                         
|Interest expense                             | (211)                            | (88)                           
|Interest income                              | 1,521                            | 1,947                          
|                                            
|Income before taxes                          | 30,277                           | 18,025                         
|Income tax provision                         | 11,100                           | 5,957                          
|                                            
|Net income                                   | $19,177                          | $  12,068                      
|Retained earnings at beginning of the period | 173,524                          | 160,512                        
|Repurchase of shares                         | (6,234)                          | (8,955)                        
|                                            
|Retained earnings at end of the period       | $186,467                         | $163,625                       
|                                            
|Net income per share                         |                                  |                                
|Basic                                        | $0.22                            | $0.14                          
|                                            
|Diluted                                      | $0.21                            | $0.13                          
|                                            
|Weighted average number of shares (000s)     |                                  |                                
|Basic                                        | 87,845                           | 87,488                         
|                                            
|Diluted                                      | 89,882                           | 89,456                         
|                                            



(See accompanying notes)

45

---

COGNOS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(US$000s, CDN GAAP)

|                                                                                                                           | November 30,
2002 |  | February 28,

2002
|-------------------------------------------------------------------------------------------------------------------------- | ----------------- |  | ------------------
|                                                                                                                          
|Assets                                                                                                                     | (Unaudited)       |  |                   
|Current assets                                                                                                             |                   |  |                   
|Cash and cash equivalents                                                                                                  | $176,542          |  | $192,900          
|Short-term investments                                                                                                     | 161,561           |  | 121,629           
|Accounts receivable                                                                                                        | 102,397           |  | 114,059           
|Inventories                                                                                                                | 566               |  | 537               
|Prepaid expenses                                                                                                           | 6,285             |  | 6,765             
|Income tax assets                                                                                                          | 5,759             |  | 6,404             
|                                                                                                                          
|                                                                                                                           | 453,110           |  | 442,294           
|Fixed assets                                                                                                               | 58,586            |  | 59,008            
|Goodwill                                                                                                                   | 15,523            |  | 15,230            
|Intangible assets                                                                                                          | 7,241             |  | 14,203            
|                                                                                                                          
|                                                                                                                           | $534,460          |  | $530,735          
|                                                                                                                          
|Liabilities                                                                                                                |                   |  |                   
|Current liabilities                                                                                                        |                   |  |                   
|Accounts payable                                                                                                           | $ 22,678          |  | $ 26,387          
|Accrued charges                                                                                                            | 25,771            |  | 34,210            
|Salaries, commissions, and related items                                                                                   | 39,780            |  | 37,453            
|Income taxes payable                                                                                                       | 2,907             |  | 6,167             
|Deferred revenue                                                                                                           | 99,607            |  | 110,504           
|                                                                                                                          
|                                                                                                                           | 190,743           |  | 214,721           
|Long-term liabilities                                                                                                      | 3,440             |  | 9,131             
|Deferred income taxes                                                                                                      | 8,190             |  | 6,328             
|                                                                                                                          
|                                                                                                                           | 202,373           |  | 230,180           
|                                                                                                                          
|Stockholders' Equity                                                                                                       |                   |  |                   
|Capital stock                                                                                                              |                   |  |                   
|Common shares     
(November 30, 2002 - 87,863,382;

                    
                
February 28, 2002 - 87,997,220) | 160,373           |  | 151,637           
|Retained earnings                                                                                                          | 186,467           |  | 164,144           
|Accumulated other comprehensive items                                                                                      | (14,753)          |  | (15,226)          
|                                                                                                                          
|                                                                                                                           | 332,087           |  | 300,555           
|                                                                                                                          
|                                                                                                                           | $534,460          |  | $530,735          
|                                                                                                                          



(See accompanying notes)

46

---



COGNOS INCORPORATED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(US$000s, CDN GAAP)
(Unaudited)

|                                                                  | Three months ended

November 30, | Nine months ended

November 30,
|----------------------------------------------------------------- | -------------------------------- | -------------------------------
|                                                                 
|                                                                  | 2002                             | 2001                           
|                                                                 
|Cash provided by (used in) operating activities                   |                                  |                                
|Net income                                                        | $ 19,177                         | $ 12,068                       
|Non-cash items                                                    |                                  |                                
|Depreciation and amortization                                     | 6,451                            | 9,972                          
|Amortization of deferred stock-based
compensation                 | 148                              | 504                            
|Amortization of other deferred compensation                       | 119                              | 606                            
|Deferred income taxes                                             | 3,961                            | (1,010)                        
|Loss on disposal of fixed assets                                  | 8                                | 43                             
|                                                                 
|                                                                  | 29,864                           | 22,183                         
|Change in non-cash working capital                                |                                  |                                
|Decrease (increase) in accounts receivable                        | (18,157)                         | (6,116)                        
|Decrease (increase) in inventory                                  | 203                              | 48                             
|Decrease in prepaid expenses                                      | 1,484                            | 366                            
|Decrease (increase) in income tax assets                          | -                                | 2,768                          
|Increase (decrease) in accounts payable                           | 4,259                            | (1,631)                        
|Increase (decrease) in accrued charges                            | (355)                            | 3,911                          
|Increase in salaries,
commissions, and related items              | 3,390                            | 3,410                          
|Increase (decrease) in income taxes payable                       | 125                              | (144)                          
|Decrease in deferred revenue                                      | (5,484)                          | (2,123)                        
|                                                                 
|                                                                  | 15,329                           | 22,672                         
|                                                                 
|Cash provided by (used in) investing activities                   |                                  |                                
|Maturity of short-term investments                                | 19,851                           | 56,557                         
|Purchase of short-term investments                                | (139,146)                        | (83,144)                       
|Additions to fixed assets                                         | (3,559)                          | (2,026)                        
|                                                                 
|                                                                  | (122,854)                        | (28,613)                       
|                                                                 
|Cash provided by (used in) financing activities                   |                                  |                                
|Issue of common shares                                            | 4,106                            | 1,645                          
|Repurchase of shares                                              | (6,850)                          | (9,994)                        
|Decrease in long-term debt and long-term liabilities              | (2,361)                          | (806)                          
|                                                                 
|                                                                  | (5,105)                          | (9,155)                        
|                                                                 
|Effect of exchange rate changes on cash                           | 72                               | (977)                          
|                                                                 
|Net increase (decrease) in cash and cash equivalents              | (112,558)                        | (16,073)                       
|Cash and cash equivalents, beginning of period                    | 289,100                          | 170,309                        
|                                                                 
|Cash and cash equivalents, end of period                          | 176,542                          | 154,236                        
|Short-term investments, end of period                             | 161,561                          | 113,881                        
|                                                                 
|Cash, cash equivalents, and short-term investments, end of period | $338,103                         | $268,117                       
|                                                                 



(See accompanying
notes)

47

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

|1. | Basis
of Presentation
|-- | ---------------------

| | The
accompanying unaudited consolidated financial statements have been prepared by the
Corporation in United States (U.S.) dollars and in accordance with Canadian generally
accepted accounting principles (GAAP) with respect to the preparation of
interim financial information. Accordingly, they do not include all information and
footnotes as required in the preparation of annual consolidated financial statements.
These unaudited condensed notes to the consolidated financial statements should be read in
conjunction with the audited financial statements and notes included in the Annual
Information Form for the fiscal year ended February 28, 2002.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
preparation of these unaudited consolidated financial statements requires management to
make estimates and assumptions that affect the amounts reported in the consolidated
financial statements and the accompanying notes. In the opinion of Management, these
unaudited consolidated financial statements reflect all adjustments (which include only
normal, recurring adjustments) necessary to state fairly the results for the periods
presented. Actual results could differ from these estimates and the operating results for
the interim periods presented are not necessarily indicative of the results expected for
the full year.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | All
information is presented in thousands of U.S. dollars, unless otherwise stated.
Consolidated financial statements prepared in accordance with U.S. GAAP, in U.S. dollars,
are made available to all shareholders, and filed with various regulatory authorities.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | Revenue
Recognition
|-- | -------------------

| | The
Corporation recognizes revenue in accordance with Statement of Position (SOP) 97-2,
Software Revenue Recognition, issued by the American Institute of Certified Public
Accountants.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Substantially
all of the Corporations product license revenue is earned from licenses of
off-the-shelf software requiring no customization. Revenue from these licenses is
recognized when all of the following criteria are met: persuasive evidence of an
arrangement exists, delivery has occurred, the fee is fixed or determinable, and
collectibility is probable. If a license includes the right to return the product for
refund or credit, revenue is recognized net of an allowance for estimated returns provided
all the requirements of SOP 97-2 have been met.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Revenue
from product support contracts is recognized ratably over the life of the contract.
Incremental costs directly attributable to the acquisition of product support contracts,
and that would not have been incurred but for the acquisition of that contract, are
deferred and expensed in the period the related revenue is recognized. These costs include
commissions payable on sales of support contracts.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Revenue
from education, consulting, and other services is recognized at the time such services are
rendered.
| | ------------------------------------------------------------------------------------------------------------

48

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

| | For
contracts with multiple obligations (e.g. deliverable and undeliverable products, support
obligations, education, consulting and other services), the Corporation allocates revenue
to each element of the contract based on objective evidence, specific to the Corporation,
of the fair value of the element.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. | Goodwill
|-- | --------

| | During
the three and nine months ended November 30, 2002 there were additions to goodwill of
$115,000 and $293,000 related to additional consideration paid to the former shareholders
of Teijin Cognos Incorporated (TCI). This additional consideration was based on components
of the net revenue of TCI during the quarter.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Under
CICA Handbook Section 3062 Goodwill and Other Intangible Assets(Section 3062) which the
Corporation implemented March 1, 2002, goodwill will no longer be amortized but will be
subject to an annual impairment test. The Corporation performed the required impairment
tests of goodwill as of March 1, 2002. The effect
of these tests was not material on the earnings and financial position of the Corporation.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

49

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

| | If
the non-amortization provision of Section 3062 had been in effect beginning March 1, 2001
the effect would have been as follows (000s except per share amounts):
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                   | Three months ended

November 30, |  | Nine months ended

November 30,
|---------------------------------- | -------------------------------- |  | -------------------------------
|                                   | 2002                             |  | 2001                           
|                                   |                                 
|Reported net income                | $19,177                          |  | $12,068                        
|Goodwill amortization              | -                                |  | 1,089                          
|                                   |                                  |  |                                
|Adjusted net income                | $19,177                          |  | $13,157                        
|                                   |                                  |  |                                
|Basic net income per share:        |                                  |  |                                
|Reported net income:               | $0.22                            |  | $0.14                          
|Goodwill amortization              | -                                |  | 0.01                           
|                                   |                                  |  |                                
|Adjusted net income                | $0.22                            |  | $0.15                          
|                                   |                                  |  |                                
|Diluted net income per share:      |                                  |  |                                
|Reported net income:               | $0.21                            |  | $0.13                          
|Goodwill amortization              | -                                |  | 0.02                           
|                                   |                                  |  |                                
|Adjusted net income                | $0.21                            |  | $0.15                          
|                                   |                                  |  |                                
|Weighted average number of shares: |                                  |  |                                
|Basic                              | 87,845                           |  | 87,488                         
|                                   |                                  |  |                                
|Diluted                            | 89,882                           |  | 89,456                         
|                                   |                                  |  |                                

|4. | Intangible
Assets
|-- | -----------------

|                       | As at November 30,

2002 |  | As at February 28,

2002 |  |         
|---------------------- | ------------------------ |  | ------------------------ |  | --------
|                       |                          |  |                          |  |         
|                       | Cost                     |  | Accumulated Amortization |  | Cost    
|                       |                          |  |                          |  |         
|                       | ($000s)                  |  | ($000s)                  |  |         
|Acquired

Technology   | $ 13,681                 |  | $ 10,664                 |  | $ 13,681
|In-process

technology | 38,400                   |  | 34,421                   |  | 38,400  
|Deferred

Compensation | 8,945                    |  | 8,700                    |  | 8,945   
|                       |                          |  |                          |  |         
|                       | 61,026                   |  | 53,785                   |  | 61,026  
|                       | (53,785)                 |  |                          |  | (46,823)
|                       |                          |  |                          |  |         
|Net book value         | $ 7,241                  |  |                          |  | $ 14,203
|                       |                          |  |                          |  |         

50

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

| | Amortization
of intangible assets was $1,968,000 and $3,210,000 in the quarters ended November 30, 2002
and November 30, 2001, respectively and was $6,962,000 and $9,752,000 for the nine months
ended November 30, 2002 and November 30, 2001, respectively. The estimated amortization
expense related to intangible assets is as follows ($000s):
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2003 (Q4) | $1,209
|--------- | ------
|2004      | 4,442 
|2005      | 1,007 
|2006      | 583   

|5. | Income
Taxes
|-- | ------------

| | The
Corporation provides for income taxes in its quarterly unaudited financial statements
based on the estimated effective tax rate for the full fiscal year.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. | Net
Income per Share
|-- | --------------------

| | The
reconciliation of the numerator and denominator for the calculation of basic and diluted
net income per share is as follows: (000s except per share amounts)
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                       | Three months ended

November 30, |  | Nine months ended

November 30,
|------------------------------------------------------ | -------------------------------- |  | -------------------------------
|                                                       |                                  |  |                                
|                                                       | 2002                             |  | 2001                           
|                                                       |                                  |  |                                
|Basic Net Income per Share                             |                                  |  |                                
|Net income                                             | $19,177                          |  | $12,068                        
|                                                       |                                  |  |                                
|Weighted average number of shares outstanding          | 87,845                           |  | 87,488                         
|                                                       |                                  |  |                                
|Basic net income per share                             | $0.22                            |  | $0.14                          
|                                                       |                                  |  |                                
|                                                       |                                  |  |                                
|Diluted Net Income per Share                           |                                  |  |                                
|Net income                                             | $19,177                          |  | $12,068                        
|                                                       |                                  |  |                                
|Weighted average number of shares outstanding          | 87,845                           |  | 87,488                         
|Dilutive effect of stock options                       | 2,037                            |  | 1,968                          
|                                                       |                                  |  |                                
|Adjusted weighted average number of shares outstanding | 89,882                           |  | 89,456                         
|                                                       |                                  |  |                                
|Diluted net income per share                           | $0.21                            |  | $0.13                          
|                                                       |                                  |  |                                

51

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

|7. | Comprehensive
Income
|-- | --------------------

| | Comprehensive
income includes net income and other comprehensive income (OCI). OCI refers to changes in
net assets from transactions and other events, and circumstances other than transactions
with stockholders. These changes are recorded directly as a separate component of
Stockholders Equity and excluded from net income. The only other comprehensive
income item for the Corporation relates to foreign currency translation adjustments
pertaining to those subsidiaries not using the U.S. dollar as their functional currency
net of derivative gains or losses.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The components
of comprehensive income were as follows ($000s):
| | ----------------------------------------------------------------

|                                         | Three months ended

November 30, |  | Nine months ended

November 30,
|---------------------------------------- | -------------------------------- |  | -------------------------------
|                                         |                                  |  |                                
|                                         | 2002                             |  | 2001                           
|                                         |                                  |  |                                
|                                         |                                  |  |                                
|Net income                               | $19,177                          |  | $12,068                        
|Other comprehensive income (expense):    |                                  |  |                                
|Foreign currency translation adjustments | (286)                            |  | (1,555)                        
|                                         |                                  |  |                                
|Comprehensive income                     | $18,891                          |  | $10,513                        
|                                         |                                  |  |                                

|8. | Accounting
for Stock Option Plans
|-- | ---------------------------------

| | As
permitted by CICA Handbook Section 3870 Stock-Based Compensation and Other Stock-Based
Payments(Section 3870), the Corporation did not adopt the fair value based method of
accounting for all employee stock-based compensation. The exercise price of all stock
options is equal to the market price of the stock on the trading day preceding the date of
grant. Accordingly, no compensation cost has been recognized in the financial statements
for the Corporations stock option and stock purchase plans.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

52

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

| | Section
3870 requires disclosure of pro forma net income and earnings per share as if the
Corporation had elected to adopt the fair value based accounting method. If the fair
values of the options granted had been recognized as compensation expense on a straight
line basis over the vesting period of the grant, stock-based compensation costs would have
reduced net income, basic net income per share and diluted income per share as indicated
in the table below ($000s):
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                     | Three months ended

November 30, |  | Nine months ended

November 30,
|------------------------------------ | -------------------------------- |  | -------------------------------
|                                     |                                  |  |                                
|                                     | 2002                             |  | 2001                           
|                                     |                                  |  |                                
|Net income (loss):                   |                                  |  |                                
|As reported                          | $19,177                          |  | $12,068                        
|Proforma                             | $11,528                          |  | $ 5,411                        
|Basic net income (loss) per share:   |                                  |  |                                
|As reported                          | $0.22                            |  | $0.14                          
|Proforma                             | $0.13                            |  | $0.06                          
|Diluted net income (loss) per share: |                                  |  |                                
|As reported                          | $0.21                            |  | $0.13                          
|Proforma                             | $0.13                            |  | $0.06                          

| | The
fair value of the options was estimated at the date of grant using a Black-Scholes option
pricing model with the following weighted average assumptions:
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------

|                         | Three months ended

November 30, |  | Nine months ended

November 30,
|------------------------ | -------------------------------- |  | -------------------------------
|                         |                                  |  |                                
|                         | 2002                             |  | 2001                           
|                         |                                  |  |                                
|                         |                                  |  |                                
|Risk-free interest rates | N/A*                             |  | 3.1%                           
|Expected life of options | N/A*                             |  | 2.8 years                      
|Expected volatility      | N/A*                             |  | 68.5%                          
|Dividend yield           | N/A*                             |  | 0.0%                           

|* | During
the three months ended November 30, 2002 no options were granted.
|- | ------------------------------------------------------------------------

|9. | Segmented
Information
|-- | ---------------------

| | The Corporation
has one reportable segmentcomputer software products.
| | ----------------------------------------------------------------------

53

---

COGNOS INCORPORATED

CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

(All amounts in U.S. dollars, unless otherwise stated)

(In accordance with CDN GAAP)

|10. | Secondary
Offering
|--- | ------------------

| | On
July 16, 2002, the Corporation filed a final registration statement with the United States
Securities and Exchange Commission and a Canadian prospectus with Canadian securities
regulators for a secondary offering of 3,600,000 common shares at a price to the public of
$17.50 per share. All of the common shares in the offering were sold by certain entities
affiliated with Michael U. Potter. The Corporation did not receive any proceeds from the
sale of the shares. The Corporation incurred costs related to the filing of this secondary
offering and those costs were expensed during the quarter ended August 31, 2002. Under
this secondary offering the Corporation repurchased 180,000 of its own shares at an
aggregate purchase price of $3,150,000.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|11. | Subsequent
Event
|--- | ----------------

| | On
January 10, 2003, subsequent to the quarter ended November 30, 2002, the Corporation
completed the acquisition of privately-held Adaytum, Inc. (Adaytum), based in
Minneapolis, Minnesota. Adaytum is a leading global provider of enterprise performance
planning software. The Corporation entered into an Agreement and Plan of Reorganisation
dated December 19, 2002 (the Merger Agreement). The total merger consideration
is approximately $157 million, after adjustments provided for in the Merger
Agreement. In addition, the Corporation assumed certain stock options that were outstanding
under Adaytums stock option plan.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

54