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Robert Pender
Chief Financial Officer, Serena Software
(650) 522-6604
bpender@serena.com

Privately-held Serena Software names Michael Capellas as acting chief executive

Silver Lake Partners senior advisor steps in while Company seeks permanent CEO

SAN MATEO, Calif. — December 20, 2006 — Serena Software, Inc., the Change Governance™ leader, today announced the appointment of Michael Capellas, a senior advisor to Silver Lake Partners, as acting president and chief executive officer.  Serena Software was acquired by private equity firm Silver Lake Partners on March 10, 2006.  Mark E. Woodward, who served as president and chief executive officer, resigned his positions with the Company effective immediately. 

Michael Capellas is a 30-year veteran of information technology businesses and has an intimate knowledge of IT and its role in driving business success.  Prior to joining Silver Lake in 2006, he served as president and chief executive officer of MCI where he successfully led the largest corporate reorganization in history and later oversaw MCI’s merger with Verizon Communications.  Mr. Capellas also served as chairman and chief executive for Compaq Computer Corporation and was president of Hewlett-Packard Company.  He joined Compaq in 1998 and held positions as chief information officer and chief operating officer prior to being named CEO.  Earlier in his career, he held senior management positions with Oracle Corporation, SAP Americas, and Schlumberger Limited.  He is currently a director of Cisco Systems, Inc.

“We are fortunate to be able to enlist the rare talents of someone like Michael Capellas,” said David Roux, Serena Software’s chairman of the board.  “His experience running some of the world’s biggest technology companies enables him to lead Serena immediately while we conduct a search for a permanent chief executive.”

“For more than two decades, Serena Software has provided innovative solutions for change management to a global customer base,” said Michael Capellas, acting president and chief executive officer.  “I look forward to working with Serena’s management team and employees during this period of transition.” 

About Serena Software, Inc.
Serena Software, Inc., the Change Governance™ leader, provides software and services to more than 15,000 organizations around the world—including 96 of the Fortune 100 and 90 of the Global 100. Recognized by IDC as the largest software provider focused exclusively on change, Serena offers a new approach to change—Change Governance—that enables businesses to efficiently, consistently, and successfully control change across the enterprise. Serena helps companies capitalize on change to achieve transformative business results. Serena has more than 800 employees worldwide and is headquartered in San Mateo, California, with offices throughout the U.S., Europe, and Asia Pacific. For more information, please visit www.serena.com.

Change Governance is a trademark of Serena Software, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners. Copyright © 2006 SERENA Software, Inc. All Rights Reserved.