HYPERION ANNOUNCES NEW INTEGRATED FINANCIAL SUITE

FOUR NEW PRODUCT RELEASES INTEGRATE FINANCIAL PROCESSES, DATA; PROVIDE EASY
END-USER ACCESS TO FINANCIAL INFORMATION

STAMFORD, Conn., April 19, 1996 -- Hyperion Software (NASDAQ: HYSW)
announced today a new product suite for the high-end client/server market
by delivering four major product releases that integrate financial
processes and data, and provide easy end-user access.

"Called Hyperion CFO," the four releases are now marketable in North
America as a complete suite encompassing the company's accounting,
reporting, budgeting and analysis lines -- two of which, reporting and
budgeting, already dominate their markets independently. Currently,
Hyperion has more than 2,700 customers, averaging $1 billion in revenues,
who are using one or more of its products. The initial entry price for the
entire suite, with the new integration capabilities announced today,
ranges from $300,000-500,000.

Hyperion, noted for its open connectivity and information access
capabilities, also will continue to sell its products on a modular basis.
Leveraging an optimal product design that allows the company to uncouple
and implement its products individually, Hyperion is offering financial
executives in large corporations the solution that recent survey data says
they're now seeking. Combined with its award-winning service component,
the new suite is positioned strongly against partnered products and weaker
client/server technologies. Hyperion believes the product suite will open
new opportunities for cooperative implementation with "Big 6" accounting
firm partners.

"HYPERION CFO" - COMPLETE FINANCIAL OFFERING

Hyperion's primary strategy is to give users fast access to and analysis of
critical financial information. To accomplish this, Hyperion is now
providing sophisticated, tightly integrated applications to support each
of the major financial processes: Hyperion Financials for accounting,
Hyperion Enterprise for reporting, Hyperion Pillar for budgeting and
Hyperion OLAP for analysis.

Hyperion CFO links a company's various information stores to create a data
mart for financial information. By applying a common set of end-user
access tools for analyzing and reporting on the information in this
integrated data store, Hyperion is now solving a critical market need with
a strong array of purpose-built financial products.

"In selecting applications, 'IS' departments will increasingly be
evaluating core applications based on their ability to support new
business processes that leverage pervasive connectivity," said Clare
Gillan, director, applications and information access for IDC in her
February 1996 presentation entitled, "New Investments in Enterprise
Applications: Finance and IS Priorities." She said that improving
management reporting, one of Hyperion's strongest capabilities, is the key
driver of new investments in accounting systems.

Hyperion's applications are open to accepting information from its own and
other source systems, plus allow financial and management executives to
leverage this combined data through an intuitive, familiar set of data
access tools.

"Hyperion CFO integrates financial processes and provides easy, end-user
data access," said James A. Perakis, president and CEO of Hyperion
Software. "Regardless of which Hyperion product you're using to get at the
data, you'll find common screens, plus the same report writer and analysis
tools. Hyperion CFO fulfills our product philosophy by providing fast,
dynamic query capabilities against information that spans the entire
financial cycle."

DEFINING INTEGRATION

By providing a consistent look and feel across applications, Hyperion CFO
reduces cross application training and provides efficient access to
information. End-users can "drill through" from one application to
another; for example, from summary information to source information. A
common report writer can be used against multiple financial data sources.
Hyperion defines integration as:

 - A common look and feel
 - Data transfer between applications
 - Drill through from summary balances to supporting detail
 - Easy maintenance across applications

Hyperion's common data access technology is a middleware layer that
provides consistent data access to purpose-built databases. Specifically,
it provides application intelligence, data intelligence and meta data
intelligence, and leverages application programming interfaces (API's) to
access information efficiently and securely. Sitting on top of the common
data access engine are the end-user tools, Hyperion Analyst for ad hoc
analysis and Hyperion Reporting for production reports providing easy
end-user access to the data.

HYPERION OLAP IS CRITICAL LINK IN HYPERION CFO SUITE

In a separate press release issued today, Hyperion Software announced the
commercial release of Hyperion OLAP, the first client/server software
application that advances current on-line analytical processing (OLAP)
technology from its status as a tool into a software application with
built-in business intelligence.

The new product features a powerful underlying OLAP engine, with advantages
not offered today by current competitors, such as the ability for users to
uncouple from the server and superior performance in large-scale
applications.

"Hyperion OLAP leverages the common data access layer and serves as the
unifying component in our product strategy," said Charles Cho, senior
director, advanced applications group. "In essence it complements the
integration linking the Hyperion CFO solution."

Hyperion OLAP, also sold on a stand-alone basis, helps organizations tackle
complex, high-volume, multi-dimensional analysis and reporting tasks, such
as customer and product line profitability. By combining financial
intelligence and superior information access capabilities with TM1, a
high-performance OLAP engine, Hyperion OLAP is a significant improvement
over generic OLAP toolsets.

The new Hyperion OLAP 2.0 release features wide-area network (WAN) access
via Hyperion's common data access technology to a shared client/server
database, multiple platform and protocol support, and a graphical
application manager supporting up to 16 dimensions and 32,000 elements per
dimension.

HYPERION ENTERPRISE RELEASE 4 XA

Hyperion is taking the optimum path of providing a financial management
solution for companies that are either conservative or more aggressive
with their technology strategies. Hyperion Enterprise Release 4,
commercially available immediately, provides advanced reporting
functionality, a choice of data entry options, plus powerful new ad hoc
query and analysis capabilities -- all optimized for the Windows 3.x,
16-bit environment.

Hyperion Release 4XA, expected to be commercial this summer, is designed
and optimized for 32-bit operating systems like Windows 95 and Windows NT,
and includes a more advanced architecture for high volume, complex
financial reporting and consolidation.

"Hyperion Enterprise Release 4XA provides organizations with the
flexibility they need to react to change in their financial
organizations," said Annette Treutlein, vice president of First Union's
Credit Card Division. "We now can change our organizational structure, by
reporting period, in just seconds -- not hours -- without impacting our
historical data. In addition, the performance and application control
advantages of Hyperion's 32-bit architecture is a big benefit for First
Union's system administrator."

Hyperion Enterprise Release 4XA includes complete global consolidation and
legal reporting, larger application volumes, a new security model and new
ease of use capabilities. "This release of Enterprise embodies our
architecture for the future," said Craig Schiff, vice president, products
and services, Hyperion Software. "While Hyperion's Enterprise line has
always been well ahead of the competitive technology curve, this newest
product brings financial reporting and consolidation capabilities to a new
level that is not even closely rivaled in the market."

HYPERION PILLAR 2.5 FEATURES INT'L SUPPORT, INTEGRATION

Two key components of Hyperion Pillar 2.5 are its French and German
translation for the international market, augmenting the multi-currency
features released last fall, and its new integration capabilities.
Hyperion Pillar now enjoys the same look and feel as other Hyperion
products and will enable Pillar to move information into Hyperion
Enterprise, Hyperion OLAP or Hyperion Financials. The release is expected
to be commercial this quarter in the U.S., with the international version
shipping in October.

"The addition of the Hyperion Pillar ODBC (Open Database Connectivity)
driver provides direct access to Pillar data for seamless integration with
other products," said William Stein, vice president, Hyperion Pillar.
"This is an important component of the tie in to the Hyperion CFO
solution, and also works well independently." With the international
budgeting market heating up, the company is beginning to make key inroads
into European markets. Hyperion Pillar holds the leading market share for
packaged corporate budgeting software, and is in use by more than 450
companies worldwide.

HYPERION FINANCIALS RELEASE 2.0 NOW COMMERCIAL

With over 70 enhancements in its Ledger, Admin and Payables packages,
Hyperion Financials Release 2.0, shipping now, features expanded database
support for both Sybase System 10 and 11, better end-user access to
information and the ability to shorten business cycles. Two Sybase System
11 customers are already live, and Hyperion Financials also plans to
deliver an Oracle platform this quarter.

Hyperion Financials facilitates measurable change to the closing process by
focusing on the entire financial process -- not just the speed of
individual tasks, such as journal postings and the number of invoices
processed per hour. "Release 2.0 allows customers to get their jobs done
faster," said Wah Chu, vice president, Hyperion Financials. "A number of
new enhancements, including the new impacted posting capability in
Hyperion Ledger, dramatically reduces the time required to complete the
closing. This feature allows summary and detail balance information to be
updated during posting, making summary data immediately available for
inquiry and reporting."

Two recently signed Hyperion Financials customers, Phelps Dodge Mining
Company and McQuay International, both said that their earlier belief in
Hyperion's integration plans affected their choice of Hyperion over
competitive accounting systems.

"We picked Hyperion because of its vast experience in client/server
software, its financial applications experience and its focus on providing
integrated financial systems for large, multi-user operations," said Tom
Gjurgevich assistant controller of Phelps Dodge Mining Company, a $1.8
billion division of Phelps Dodge Corporation. "In part, we bet on
Hyperion's vision of product integration, and we're very pleased with this
announcement today." Phelps Dodge currently holds licenses to Hyperion's
Enterprise, Financials, Pillar and OnTrack products.

Mary Ollhoff, manager of accounting and planning for McQuay International,
a $512 million provider of commercial air conditioning systems, says her
company's recent Hyperion Financials decision was based on a lengthy
history of top-quality Hyperion service, plus the now available
integration capabilities. "My experience with competitive G/L vendors was
not good. One company's workflow capabilities required too drastic a
change to my business processes, and another company offered no real
answers on who would provide servicing. Several others didn't even
understand financial processes, and still others weren't even really
shipping product."

Both companies plan to be live this year, and said the longer
implementation cycles of competitive ledgers also contributed to a vote
for Hyperion. Hyperion Software, with $165 million in sales for the
12-month period ended March 1996, develops, markets and supports complete
financial management and accounting solutions for large, multinational
corporations. The company's client/server products include accounting,
reporting, budgeting and analysis software. With more than 2,700 corporate
customers, Hyperion Software's client base includes 65 percent of the
Fortune 100 and over 50 percent of the Fortune 500 companies. A winner of
the Inc./MCI Positive Performer's 1995 National Award, Hyperion Software
is known for its exceptional customer service. Hyperion Software is
headquartered in Stamford, Connecticut.
 
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