Retek Names Steve Ladwig President and CEO

News Release Media Relations Contact Dawn Felepe Klehr 612-630-5718 dawn.felepe.klehr@retek.com Investor Relations Contact Bob Kleiber 612-632-8154 robert.kleiber@retek.com Former Imation Senior Vice President and IBM Executive Brings Decades of Technology Experience to Retek Minneapolis — July 03, 2001 — Retek Inc. (NASDAQ:RETK), a leading provider of software that helps the retail industry create, manage and fulfill consumer demand, today announced that its Board of Directors has selected Steve Ladwig to succeed Retek’s current chief executive officer John Buchanan. He will also serve as President of Retek and as a member of its Board of Directors. Ladwig will transition to his role as CEO on August 4, 2001. Buchanan will continue to serve as Chairman of Retek. Ladwig comes to Retek after serving as Senior Vice President of Imation Corp. and President of Imation`s Data Storage and Information Management Group. In this role, Ladwig was responsible for the development of Imation’s worldwide data storage business, where his efforts helped fuel a significant turnaround in sales and profitability. “We are delighted to have identified someone of Steve Ladwig’s caliber to help take Retek to the next stage in its development,” said Buchanan. “The Company’s business is strong and this is an excellent time to add depth to the management team as we look to build a scalable organization ready to take on the challenges of continued rapid growth. Steve’s experience in a variety of leadership positions with successful technology organizations such as Imation and IBM gives me great confidence that we have found an exceptional individual to take the reins at Retek. I am excited by the opportunity to work with Steve during the transition period and thereafter in my continuing role as Chairman of Retek.” “My efforts as Chairman will be focused on business development and collaborating with the Board and the rest of the management team on strategy and the direction of the company,” continued Buchanan. “I look forward to assisting Steve and his team as they build on the success we have had to date.” Before joining Imation, Ladwig held a variety of executive, managerial, technical development, sales and marketing positions during nearly two decades with International Business Machines Corp. (IBM). His positions included general manager for Network Computing and Software for Global Small and Medium Business, vice-president IBM AS/400 worldwide product development and leading the launch of IBM’s San Francisco Project for the development of Java-based business applications. “I am very pleased to be joining Retek at this exciting time in the company’s development,” said Ladwig. “Retek has an exceptional management team that has already demonstrated its ability to grow the company very rapidly. Retek has an outstanding product portfolio, talented and dedicated people and a terrific group of customers. I am excited and energized by the challenge of leading this organization through its next phase of growth.” About Retek Inc. Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek’s collaborative solutions help the retail industry create, manage and fulfill consumer demand. Many of the world’s leading retailers use Retek solutions, including A&P, Tesco, Best Buy, Family Dollar Stores, Eckerd Corp., Kohl’s Department Stores and The Home Shopping Network. For more information, visit http://www.retek.com/, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.

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