Reynolds and Reynolds Reiterates Financial Confidence

    DAYTON, Ohio--Sept. 20, 2001--Following concerns that last week's terrorist attacks on the United States might negatively impact the company's performance in its fourth fiscal quarter, The Reynolds and Reynolds Company today confirmed it expects earnings per share will be in the range of analyst estimates for the fiscal year ending September 30, 2001. "Despite the heinous crimes against our nation, we remain confident earnings will be in line with the consensus estimate of $1.31 for the fiscal year," Lloyd `Buzz' Waterhouse, president and chief executive officer, said. "We have a solid recurring revenue model and continue to manage costs effectively, which minimizes our exposure to volatility in our markets. Additionally, backlogs have improved during the quarter."
    Reynolds also announced it has continued its share repurchase program. "Our share repurchase program has been one of our investment strategies that has created value for our shareholders," says Dale Medford, executive vice president and chief financial officer. "Given our strong cash flow, balance sheet and the company's solid performance in the current fiscal year, we believe this is an excellent use of capital. We remain confident in our business model and strategies."
    During the fourth fiscal quarter the company has repurchased approximately 2.3 million shares at an average price of $24.01. Fiscal year to date, the company has repurchased approximately 6.3 million shares at an average price of $21.68. The company has approximately 4.9 million additional shares authorized for repurchase.
    Reynolds and Reynolds, headquartered in Dayton, Ohio, is the leading provider of integrated information management solutions to the automotive retailing marketplace. The company's services include a full range of retail and enterprise management systems, networking and support, e-business applications, Web services, learning and consulting services, customer relationship management solutions, document management and leasing services. To find out more about the company, its vision, products and services, visit www.reyrey.com.
    Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations, estimates, forecasts and projections of future company or industry performance based on management's judgment, beliefs, current trends and market conditions. Forward-looking statements made or to be made by or on behalf of the company may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. See also the discussion of factors that may affect future results contained in the company's Current Report on Form 8-K filed with the SEC on August 11, 2000, which we incorporate herein by reference. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.