Bentley Withdraws IPO Registration

EXTON, Pa.--(BUSINESS WIRE)--Sept. 16, 2002--Bentley Systems, Incorporated today announced that it has applied to the Securities and Exchange Commission to withdraw its April 23 registration statement for its proposed initial public offering.

"In the face of a market that has now apparently turned outright hostile to software company IPO's, Bentley has decided to remove the distractions and restrictions that accompany the IPO process and focus instead on managing our business which continues its growth and profitability," said Greg Bentley, CEO of Bentley. "Bentley management remains confident in the Company's prospects and plans to reconsider the IPO when appropriate market conditions eventually return."

About Bentley

Bentley Systems, Incorporated is a global provider of collaborative software solutions that enable our users to create, manage and publish architectural, engineering and construction (AEC) content. As a part of those solutions, Bentley provides professional services including implementation, integration, customization and training.

For more information, call 1-800-BENTLEY or visit us on the Web at www.bentley.com.

Bentley, the "B" logo and MicroStation are registered trademarks; Bentley SELECT is a registered service mark of Bentley Systems, Incorporated or Bentley Software, Inc. Other brands and product names are trademarks of their respective owners.


Contact:
     Bentley Systems, Incorporated
     Press Contact:
     Michelle Rudiman, 610/458-2798
     
Email Contact



Source: Bentley Systems, Incorporated



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