BURLINGTON, MA, September 9, 2003—Cognos (Nasdaq: COGN; TSX: CSN), the world leader in business intelligence (BI) and corporate performance management, today announced The Bear Stearns Companies Inc. (NYSE: BSC), a leading investment banking and securities trading and brokerage firm, has selected Cognos ReportNet. After an exhaustive competitive evaluation of the leading enterprise reporting solutions, Bear Stearns chose Cognos ReportNet for its ability to address the reporting requirements of its high-traffic global Extranet and Intranet decision support sites.

With its mission-critical performance, scalability and multilingual support, Cognos ReportNet will be used by more than 12,000 users on the Extranet site and more than 10,000 users internally. Displacing a number of existing reporting solutions, Cognos ReportNet creates a true self-service reporting environment against a number of information systems, including IBM DB2.

Designed to scale to 100s of 1,000s of users, Cognos ReportNet solution draws upon Cognos reporting and query leadership, delivering the next level of reporting. Cognos ReportNet is fully integrated within the Cognos Enterprise BI solution, including flexible scorecards, dashboards, powerful industry-leading OLAP analysis, event detection and alerting, and data integration.