SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 12, 1998--Leasing Solutions, Inc. (NYSE:LSN), a leading lessor of information processing and communications equipment, announced today that it has entered into a strategic alliance with Peregrine Systems, Inc. (NASDAQ:PRGN), formerly Apsylog, Inc., to provide Leasing Solutions' customers with lifecycle asset management solutions for their information systems technology requirements.

Leasing Solutions selected Apsylog based on the breadth, flexibility and the large customer installed base of its flagship product, AssetCenter. AssetCenter is a comprehensive decision support system that manages the entire IT asset life-cycle, from asset acquisition, through asset deployment and tracking, to asset retirement.

"Apsylog's end-to-end asset management software product offering, coupled with its worldwide installed base, provides our customers, and particularly our large, global enterprise customers, a superior solution for their total equipment lifecycle planning requirements," said D. Jay DiMarco, Leasing Solutions' Vice President of Marketing and Business Development.We are pleased to have entered into our strategic alliance with Leasing Solutions, providing IT asset management solutions for clients around the world," said Cindy Tilton, Director of Business Development.

About Peregrine Systems

Peregrine Systems is a leading provider of enterprise service desk and asset management solutions to the worldwide market. Peregrine's vision for its enterprise customers is to enable the logical evolution of two management disciplines -- the Consolidated Service Desk so critical to operations management, and the Enterprise Asset Management discipline so essential to profitable management of corporate resources.

A true Infrastructure Management perspective unites these unique disciplines through common shared data, leading to a common understanding of the impact of events and change upon the investment decisions of a company. Founded in 1981, Peregrine Systems has offices in San Diego, Calif.; San Ramon, Calif.; Houston, Texas; the UK; France; Germany; Denmark; and the Netherlands.

About Leasing Solutions

Leasing Solutions is a full-service global leasing company that specializes in leasing information processing and communications equipment, principally to large, corporate customers. Most leases written by the company qualify as operating leases. Leasing Solutions has purchased over $1.250 billion of equipment, representing over 300,000 assets, and services over 700 customers.

Based in San Jose, the company maintains regional leasing offices in the Atlanta, Boston, Chicago, Dallas, Los Angeles, New York City and San Jose metropolitan areas, as well as in Canada, the United Kingdom, Belgium, France, Germany, and the Netherlands.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the company's lease financing services and the products to be leased by the company, the continued availability to the company of adequate financing to support its global expansion and activities, risks and uncertainties of doing business in Europe, Canada and other foreign countries, the ability of the company to recover its investment in equipment through remarketing, the ability of the company to enter into new strategic relationships and extend existing strategic relationships, the performance of its strategic partners, the ability of the company to manage its growth, and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings.