EXHIBIT 99.1

press release

CRYSTAL DECISIONS REPORTS FIRST FISCAL QUARTER RESULTS

First Quarter Revenues Increase 26 Percent Year-Over-Year;
Thirteenth Quarter of Year-Over-Year Revenue Growth

PALO ALTO, Calif.—October 23, 2003—Crystal Decisions, a global provider of business intelligence software and services, today announced results for the first fiscal quarter ended October 3, 2003. Revenues for the first quarter grew to $82.3 million, an increase of 26 percent from the $65.0 million in reported revenues for the comparable period in the prior year.

First fiscal quarter net income of $7.7 million represented 9.4 percent of revenues compared to $7.1 million, or 10.9 percent of revenues, for the same period a year ago. The result for the current quarter includes approximately $3.5 million in costs related to the company’s postponed initial public offering and approximately $4.8 million in costs associated with the pending merger with Business Objects.

     Highlights from the first quarter include:

• Announced definitive agreement for acquisition by Business Objects

• Announced new alliance agreements with BearingPoint, Inc.; Cap Gemini Ernst & Young US LLC; and Fujitsu Consulting

• Announced availability of improved web report creation and interactivity in Crystal Enterprise

• Announced new customer wins with University of Texas at San Antonio, University of Wisconsin Medical Foundation, Baylor Health Care System, Sunsweet Growers, Inc., and General Binding Corporation

• Increased total number of OEM (Original Equipment Manufacturer) partnerships to more than 360; including new partnerships with Honeywell Industry Solutions and Maximizer Software, Inc.

“Crystal Decisions is very pleased to announce its thirteenth quarter of year-over-year revenue growth,” said Jon Judge, President and Chief Executive Officer, Crystal Decisions. “We believe this growth is attributable to the high quality of the solutions and services we deliver to our customers worldwide.”

For More Information

For more information on Crystal Decisions products and services, phone 1-800-877-2340 (North America) or 1-604-681-3435 (International), or visit the Crystal Decisions Web site at www.crystaldecisions.com.

About Crystal Decisions

Crystal Decisions is a leading global provider of business intelligence software and services with more than 15 million licenses shipped. Since 1984, Crystal Decisions has powered winning organizations with one of the fastest ways for employees, partners and customers to access the information they need to make the best

-more-

Crystal Decisions Reports Fiscal First Quarter Revenue Results
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decisions and ultimately reduce costs and increase productivity. The Crystal brand is among the most trusted names in enterprise reporting and more than 360 Independent Software Vendors (ISVs) have standardized on Crystal Decisions’ solutions. Headquartered in Palo Alto, Calif., Crystal Decisions has more than 30 offices worldwide and can be found on the Internet at www.crystaldecisions.com.

For Further Information Contact:
Ian Galbraith, Corporate Communications
(604) 974-2370
Ian.Galbraith@crystaldecisions.com Caroline Hughes, Investor Relations
(604) 974-2003
Caroline.Hughes@crystaldecisions.com

Crystal Decisions, Crystal Reports, Crystal Enterprise, Crystal Analysis, Crystal Services, Crystal Care, Crystal Assist, Crystal Applications and Holos are trademarks or registered trademarks of Crystal Decisions, Inc. in the U.S. and/or other countries. All other trademarks or registered trademarks referenced are the property of their respective owners.

Additional Information About the Proposed Acquisition and Where to Find It

On August 29, 2003, Business Objects filed a registration statement with the SEC containing Business Objects’ and Crystal Decisions’ proxy statement/prospectus/information statement regarding the proposed acquisition of Crystal Decisions by Business Objects. Investors and security holders of Business Objects and Crystal Decisions are urged to read the proxy statement/prospectus/information statement filed with the SEC on August 29, 2003, the definitive proxy statement/prospectus/information statement when it becomes available and any other relevant materials filed by Business Objects or Crystal Decisions with the SEC because they contain, or will contain, important information about Business Objects, Crystal Decisions and the proposed acquisition. The definitive proxy statement/prospectus/information statement will be mailed to the security holders of Business Objects and Crystal Decisions. The proxy statement/prospectus/information statement filed with the SEC on August 29, 2003, the definitive proxy statement/prospectus/information statement and other relevant materials (when they become available), and any other documents filed by Business Objects or Crystal Decisions with the SEC, may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Business Objects by contacting Business Objects Investor Relations, 3030 Orchard Parkway, San Jose, California, 95134, 408-953-6000. Investors and security holders may obtain free copies of the documents filed with the SEC by Crystal Decisions by contacting Crystal Decisions Investor Relations, 895 Emerson Street, Palo Alto, California, 94301, 800-877-2340. Investors and security holders of Business Objects are urged to read the definitive proxy statement/prospectus/information statement and the other relevant materials when they become available before making any voting decision with respect to the proposed acquisition.

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CRYSTAL DECISIONS, INC.

CONSOLIDATED BALANCE SHEETS
(In thousands of US dollars, except share data)

					June 27,
			October 3, 2003		2003(1)
			(unaudited)
ASSETS
Current assets:
	Cash and cash equivalents		$	114,761	$	99,823
	Short-term investments			3,413		4,880
	Restricted cash			2,026		2,019
	Accounts receivable, net			47,067		51,436
	Income taxes receivable			—		77
	Inventories, net			619		515
	Deferred tax assets			12,082		10,229
	Prepaid and other current assets			8,633		10,635
		Total current assets		188,601		179,614
Property and equipment, net				27,655		24,817
Deferred tax assets				1,052		1,052
Long-term investments				3,194		3,215
		Total assets	$	220,502	$	208,698
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Accounts payable		$	18,240	$	17,464
	Accrued employee compensation			16,347		20,267
	Accrued expenses			16,380		15,217
	Deferred revenues			49,762		48,245
	Income taxes payable			31,930		28,659
		Total current liabilities		132,659		129,852
Deferred tax liabilities				1,072		1,284
Deferred revenues				1,724		1,806
		Total liabilities		135,455		132,942
Stockholders’ equity:
Common stock – 150,000,000 shares authorized; issued and outstanding – 76,225,451 and 76,091,581 at $0.001 par value per share, respectively				76		76
Additional paid-in capital				36,323		35,771
Retained earnings				47,616		39,893
Accumulated other comprehensive income				1,032		16
		Total stockholders’ equity		85,047		75,756
		Total liabilities and stockholders’ equity	$	220,502	$	208,698

(1) The information in this column was derived from the audited consolidated balance sheet as of June 27, 2003.

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CRYSTAL DECISIONS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands of US dollars, except per share data)

			For the three months ended
			October 3,			September 27,
			2003			2002
			(unaudited)
Revenues:
	Licensing		$	52,534		$	41,787
	Maintenance, support and services			29,751			23,261
		Total revenues		82,285			65,048
Cost of revenues:
	Licensing			1,329			1,732
	Maintenance, support and services			14,558			13,907
		Total cost of revenues		15,887			15,639
Gross profit				66,398			49,409
Operating expenses:
	Sales and marketing			29,688			23,900
	Research and development			12,173			9,403
	General and administrative			14,315			6,580
		Total operating expenses		56,176			39,883
Income from operations				10,222			9,526
Interest income and other income, net				589			452
Income before income taxes				10,811			9,978
Provision for income taxes				(3,088	)		(2,895	)
Net income			$	7,723		$	7,083
Basic net income per share			$	0.10		$	0.09
Basic weighted average number of shares				76,171			75,895
Diluted net income per share			$	0.09		$	0.09
Diluted weighted average number of shares				85,911			79,677

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CRYSTAL DECISIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of US dollars)

			For the three months ended
			October 3,			September 27,
			2003			2002
			(unaudited)
Operating activities
Net income			$	7,723		$	7,083
Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation and amortization of property and equipment			2,710			1,751
	Bad debt expense and other reserves			151			244
	Deferred income tax recovery			(2,001	)		(3,507	)
	Amortization of other current and non-current assets			425			425
Changes in operating assets and liabilities:
	Accounts receivable			4,218			(1,102	)
	Income taxes receivable			77			817
	Inventories			(104	)		9
	Prepaid and other current assets			2,516			290
	Accounts payable			(1,791	)		(1,158	)
	Accrued employee compensation			(3,920	)		984
	Accrued expenses			1,258			923
	Deferred revenues			1,435			449
	Income taxes payable			3,207			(1,782	)
		Net cash provided by operating activities		15,904			5,426
Investing activities
Purchases of property and equipment				(2,981	)		(5,606	)
Purchases of short-term investments				—			(7,520	)
Maturity of short-term investments				1,470			—
Purchase of long-term investments				—			(666	)
		Net cash used in investing activities		(1,511	)		(13,792	)
Financing activities
Issuance of common stock				552			273
Deposit to secure overdraft credit facility				(7	)		(2,000	)
		Net cash provided by (used in) financing activities		545			(1,727	)
Effect of exchange rate changes on cash and cash equivalents				—			(23	)
		Net increase (decrease) in cash and cash equivalents		14,938			(10,116	)
Cash and cash equivalents at the beginning of the period				99,823			71,451
Cash and cash equivalents at the end of the period				114,761			61,335
Short-term and long-term investments at the end of the period				6,607			8,186
Cash, cash equivalents, short-term and long-term investments at the end of the period			$	121,368		$	69,521