Chat with us!
Chat
CLICK HERE TO START CHAT

eGain Communications addresses short-term financing needs

Company secures additional credit line of up to $5 million

SUNNYVALE, CA, December 26, 2002 – eGain Communications Corporation (NASDAQ: EGAN), a leading provider of knowledge-powered customer service software and services for the Global 2000, today announced that its co-founder and CEO, Ashutosh Roy, has extended a $5 million credit facility to the company. This facility includes a $2 million initial loan, followed by additional loans of up to $3 million subject to the company meeting certain performance milestones.

“Calendar 2002 has been all about reaching breakeven and developing our next-generation 6.0 product suite,” said Mr. Roy. “I am proud of the progress the eGain team has made towards achieving these goals, while right-sizing the business to operate effectively in a demanding economic environment. Calendar 2003 will continue to be a year of focused execution – we will seek prudent growth built on a platform of differentiated product offerings and sustained customer satisfaction. This credit line strengthens our balance sheet and further validates our confidence in eGain.”

About eGain Communications Corporation

eGain (Nasdaq: EGAN) is a leading provider of software and services that enable knowledge-powered multi-channel customer service. Selected by 24 of the 50 largest global companies to transform their traditional call centers into knowledge-powered multi-channel contact centers, eGain solutions measurably improve operational efficiency and customer retention, delivering a significant ROI. eGain eService Enterprise, the company’s software suite, also available as a hosted service, includes applications for knowledge management, web self-service, email management, and web collaboration, as well as certified integrations with existing call center infrastructure and business systems. Additionally, eGain offers a comprehensive set of professional services including business consulting, implementation services, 24×7 support, education, and training.

Headquartered in Sunnyvale, California, eGain has an operating presence in 18 countries and serves over 800 enterprise customers worldwide, including ABN AMRO, DaimlerChrysler, and Vodafone. To find out how eGain can help you leverage customer service for competitive advantage, please visit http://www.eGain.com or call the company’s offices – United States: (888) 603-4246; London: +44 (0) 1753 464646; or Sydney: +612 9492 5400.

###

Trademarks: eGain, the eGain logo and all other eGain product names and slogans are trademarks or registered trademarks of eGain Communications Corp. in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of their respective companies.

Cautionary Note Regarding Forward-looking Statements: All statements in this release that involve eGain’s plans, forecasts, beliefs, projections, expectations, strategies and intentions are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the challenging economic environment; the uncertainty of demand for eGain products; the anticipated customer benefits from eGain products; increased competition and technological changes in the markets in which eGain competes; eGain’s ability to manage its expenditures; and other risks detailed from time to time in the company’s filings with the Securities and Exchange Commission, including the company’s annual report on Form 10-K filed on September 28, 2002, and the company’s quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.

###

eGain Media Contact

Anand Subramaniam
eGain Communications
Tel: 408 212 3506
Email: pr@egain.com