Some of the statements in this annual review are forward-looking, including the statements regarding the BEA's future prospects, growth, market share, customer base growth, competitive position and operating results; BEA's performance coming out of the current recession; market trends towards a common open platform; BEA's industry leadership; features, benefits and functionality of BEA products; and result of BEA's partnerships with other companies. Actual results could differ materially from those expressed in any forward-looking statements. Risks and uncertainties BEA faces that could cause results to differ materially include risks associated with: the rate of recovery of the economy and growth in IT spending; the rate of adoption by industry of the web and information technology; any unforeseen technical difficulties related to BEA's products; the introduction by competitors of competitive products developed internally or acquired; the rate of adoption of Java standards; and any technological changes in the market addressed by the BEA's products which could required feature changes in the products or make them less competitive. Readers should also refer to the risk disclosures set forth in BEA's 10-Q for the quarter ended May 31, 2002 as filed with the SEC and subsequent reports filed thereafter from time-to-time with the SEC. The forward-looking statements contained in this annual review are made as of the date hereof, and BEA does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements.