Serena Software Appoints New Executives - Serena Software - Application Lifecycle Management - Software Development Life Cycle

Contacts

Kelly Clarke		Stephanie Cebulski
SERENA Software, Inc.		Horn Group, Inc.
(650) 522-6542		(415) 905-4025
kclarke@serena.com		scebulski@horngroup.com

Serena Ranks On Forbes' Annual "Hot Shots" List For Second Consecutive Year

Remains Only Enterprise Change Management Company to Make List; Improves Ranking in Profitability and Market Value

San Mateo, CA – (October 21, 2003) – SERENA Software, Inc. (Nasdaq: SRNA), an industry-leading supplier of software that automates change to enterprise applications, today announced its inclusion in Forbes’ 2003 “Hot Shots” list, the magazine’s annual ranking of the 200 Best Small Companies in America. For the second consecutive year, Serena is the only Enterprise Change Management (ECM) company, and among the top software companies, to earn placement on this list. This year Serena improved its standing in both profitability and market value, ranking #82 and #66 respectively, and occupies the #123 “Hot Shot” position overall.

The annual Forbes’ Hot Shots list is a compilation of financially strong small-cap businesses. To make the list, companies must clear a series of stringent hurdles based on criteria such as return on equity, sales and earnings-per-share growth, and relative stock price strength. Only public companies with latest 12-month sales of $5 million to $600 million, a stock price above $5 per share, five-year average return on equity of at least 5% and overall profitability – at a net margin of at least 5%, were considered for inclusion.

This latest achievement marks the fifth time this year that Serena has been recognized by a business or industry publication for its solid and consistent market performance. Just last month, Serena earned placement on Business 2.0’s B2 100, an annual ranking of the 100 fastest-growing technology companies. Earlier in the year, Serena made the first annual SD Times 100, San Jose Mercury News’ SV150 and San Francisco Business Times’ List of the 25 Largest Bay Area Software Companies.

“Over the past year, we have been aggressively following our business strategy and go-to-market plans without detracting from the solid financial framework upon which Serena is built. We remain consistently profitable, in large part, due to our ability to correctly gauge and respond to ever-shifting market demands without going beyond our means,” said Mark Woodward, President and Chief Executive Officer, SERENA Software, Inc. “It is truly an honor to be recognized by a well-respected publication such as Forbes for the second year running.”

This year’s list can be found in the October 27th issue of Forbes, or on the Web at www.forbes.com.

About Serena
SERENA Software, Inc. is the Enterprise Change Management (ECM) industry leader. For over twenty years Serena has focused exclusively on providing solutions that help companies automate change to the applications that run their businesses, and today its products are in use at over 3,600 customer sites - including 46 of the Fortune 50. Serena's solutions take a cross-platform and cross-organizational view of enterprise applications, allowing customers to define, enforce and automate application life cycle processes. This approach helps streamline development, improve productivity and lower development costs, resulting in a highly efficient enterprise. With headquarters in San Mateo, California, Serena serves customers worldwide through local offices and an international network of distributors. www.serena.com

Serena, ChangeMan, Comparex and StarTool are registered trademarks of SERENA Software, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners.