From: Jan Tarzia <jant@caldera.com> Subject: SCO Raises $13.1 Million in Cash Date: Thu, 14 Sep 2000 16:13:09 GMT FOR IMMEDIATE RELEASE CONTACTS: Lynn Schroeder Randy Bresee Tony Baines Jan Tarzia Investor Relations CFO Corp. Communications Public Relations Tel: 831-427-7399 Tel: 831-427-7661 Tel: +44-836-724414 Tel: 831-427-7221 lynnsc@caldera.com randy@caldera.com tonyb@caldera.com jant@caldera.com SCO RAISES $13.1 MILLION IN CASH Private Placement Financing Provides Investment in Tarantella Expansion Santa Cruz, CA (September 13, 2000) - The Santa Cruz Operation, Inc. (SCO) (Nasdaq: SCOC) today announced it has reached an agreement for the private placement of common stock and warrants, worth $13.1 million. The agreement was facilitated by Security Research Associates, Inc., and represents a total purchase of 3,275,000 shares. The financing provides continued investment for developing the SCO Tarantella business, which provides web-enabling software that connects clients and server-based applications over the Internet. "These additional funds support the expansion of Tarantella efforts, and place us in a much stronger position to capitalize on our technology lead and meet our projected growth," said Mike Orr, president of the SCO Tarantella division. "This growth is fueled by the increasing business use of the Internet, the attractiveness of thin-client computing, the need to web-enable legacy applications, and the accelerating adoption of the ASP business model." Brian Swift, CEO of Security Research Associates, Inc. commented, "We view Tarantella web-enabling software as particularly unique in the industry, and are pleased to be able to provide, through our institutional investors, some additional working capital to assist the company in gaining continued market acceptance of their product." Details of the Agreement Under terms of the agreement, SCO will receive $13.1 million in cash, in exchange for 409,375 units valued at $32 each. Each unit sold in the private placement consists of eight shares of SCO common stock, plus warrants exercisable for either two shares of SCO common stock at $4 each or one share of the common stock of Caldera, Inc. valued at $8. The warrants for Caldera shares refer to shares that will be owned by SCO, subject to completion of the acquisition of the SCO Server Software and Professional Services divisions by Caldera Systems, which is pending shareholder and regulatory approval. The total number of SCO warrants exercisable in the transaction represent 818,750 shares of SCO common stock or 409,375 shares of Caldera, Inc. common stock. Under the terms of the private placement, SCO is obligated to file a registration statement to register the shares and warrants within 60 days. Also previously announced and pending shareholder approval is a name change from The Santa Cruz Operation, Inc. to Tarantella, Inc. Safe Harbor Statement: This press release contains forward-looking statements about growth of market share and of the company's business and products. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, increases and decreases in the value of investments, the ability to reduce expenses, impact and success of joint development projects and industry partnerships, conclusion or success of strategic opportunities, market acceptance of new products, the impact of competitive products, general market conditions, and other risks detailed from time to time in SCO's SEC filings, including forms 10-Q and 10-K. SCO disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. About The Santa Cruz Operation, Inc. With headquarters in Santa Cruz, CA, The Santa Cruz Operation, Inc. is comprised of three independent divisions -Tarantella, Inc., the Server Software Division, and the Professional Services Division. The three divisions sell and support their products and services through a worldwide network of distributors, resellers, systems integrators, and OEMs. For more information, see www.scoinc.com. About Tarantella Tarantella, Inc. is a wholly-owned subsidiary of The Santa Cruz Operation, Inc., which provides technologies connecting clients, server-based applications, and networks. The Tarantella product line includes Tarantella Enterprise II for large companies and organizations, Tarantella Express for workgroup and departmental environments, and Tarantella ASP Edition for Application Service Providers. Tarantella products are available today for all popular RISC and Intel processor-based UNIX servers and selected Linux servers. For more information, see www.tarantella.com. ### SCO, The Santa Cruz Operation, the SCO logo, Tarantella, Express, and the Tarantella logo are trademarks or registered trademarks of The Santa Cruz Operation, Inc. in the USA and other countries. UNIX is a registered trademark of The Open Group in the United States and other countries. Linux is a registered trademark of Linus Torvalds in the United States and other countries.. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners -------------------- Jan Tarzia Manager, Public Relations The Santa Cruz Operation, Inc. Tel: 831-427-7221 Fax: 831-427-5418 Email: jant@caldera.com www.caldera.com --------------------
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