Oracle Corporation announced today the completion of its acquisition of Siebel Systems, Inc.

Former Siebel stockholders electing to receive Oracle common stock will receive a combination of stock and cash because the stock portion of the consideration was oversubscribed. The pro rata allocation of cash and stock payable to the electing holders will be announced following receipt of the final election results, which are expected to be available on or about February 2, 2006. Former Siebel stockholders not electing to receive Oracle common stock will receive $10.66 per share in cash. Oracle intends to repurchase shares in the marketplace equal to the amount issued effectively making it a cash transaction.

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