WALLDORF, Germany - January 23, 2002 - SAP AG (NYSE: SAP), the world's leading provider of e-business software solutions, today announced its preliminary financial results for the fourth quarter and year ended December 31, 2001. For the year, sales increased 17% over 2000 to &7.34 billion (2000: &6.27 billion).

In the fourth quarter of 2001, revenues rose 7% over the same period last year to &2.32 billion (2000: &2.16 billion). Fourth quarter 2001 operating income, before charges for stock-based compensation programs (STAR and LTI) and TopTier acquisition-related charges, declined 8% to &613 million (2000: &668 million). Operating margin, excluding stock-based compensation and TopTier acquisition-related charges, was 26% (2000: 31%). Net income for the fourth quarter of 2001, adjusted for the TopTier acquisition costs and the Commerce One impact, was &379 million (2000: &375 million), and earnings per share were &1.21 (2000: &1.19).

Outlook

SAP expects 2002 to be another challenging year, as software sales trends continue to be unsettled in a tough economic environment. For the full year, SAP anticipates revenue to grow by around 15%, with stronger software license sales coming in the second half, in line with past quarterly developments. For the whole of 2002, SAP also expects its operating margin, excluding stock-based compensation and TopTier acquisition-related charges, to improve at least one percentage point over the 20.0% achieved in 2001. SAP anticipates that the improvement will become more evident in the second half as software license performance improves and the Group benefits from ongoing cost curtailment measures.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.