Press Release: June 12, 2001

WR Hambrecht + Co Initiates Coverage of E.piphany (EPNY) with a Buy Rating and $25 Target

San Francisco, CA, June 12, 2001—WR Hambrecht + Co today initiated research coverage on E.piphany [EPNY] with a Buy rating and a $25 target. WR Hambrecht’s Business Applications analyst Rich Petersen cites the market opportunity in customer relationship management (CRM) software and the competitive advantages of E.piphany’s products as key reasons for the rating. WR Hambrecht + Co offers all its research reports free and real time at wrhambrecht.com.

“We believe E.piphany is the best-of-breed rapid innovator, with the strongest competitive advantages in product, selling strategy and client base. We view the firm as the number one ranked contender in CRM today,” Petersen said.

WR Hambrecht + Co estimates E.piphany post revenues of $157.9 million in 2001 and $224.8 million in 2002, turning a profit in Q2:02. The firm had revenues of $127 million in 2000.

E.piphany, Inc. develops, markets and sells the E.piphany E.5 System, an integrated suite of customer relationship management (CRM) software solutions.