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Alt 09-01-2004, 16:18   #27
crazy_coco
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Commerce One Announces Preliminary Fourth Quarter Results and Improvements in Cash Position

PLEASANTON, Calif.--(BUSINESS WIRE)--Jan. 8, 2004--

New Investment, Strategic Licensing, Elimination of

Real Estate Obligations and Settlement with Covisint

Position Company to Execute on Product and Market Strategy in FY2004

Commerce One, Inc.(NASDAQ-NMS:CMRC) (Nasdaq:CMRC) announced today preliminary financial results for the quarter ended December 31, 2003 and significant progress in its efforts to strengthen its financial position.

The company expects the following results for its fourth quarter of 2003:

-- Cash balance as of December 31, 2003 of approximately $10.0
million of which approximately $7.0 million was unencumbered.
The final cash balance for 2003 does not include $7.7 million
of cash payments received on January 2, 2004. These payments
include the final $3.8 million payment from ComVest Investment
Partners II (" ComVest" ) in connection with a total $5.0
million financing from ComVest and $3.9 million of the final
installment of the Company`s total $4.65 million settlement of
its payment dispute with Covisint LLC (" Covisint" ).

-- Total revenues of approximately $5.5 million, with license
revenues of approximately $2.0 million and services revenues
of approximately $3.5 million. One customer, Mitsubishi,
represented approximately $1.0 million of the Company`s
license revenues for the quarter in connection with a license
of certain patent and intellectual property rights. Included
in services revenues is $0.5 million of maintenance revenue
related to the SAP agreement. These revenue estimates do not
include the effect of the Covisint settlement which may
contribute up to $3.0 million of additional services revenues,
depending on the final characterization of these amounts for
accounting purposes.

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