Sandell Seeks Value Maximization at Fair Isaac

Jun 29, 2007, 01:00 ET from Sandell Asset Management Corp.

    NEW YORK, June 29 /PRNewswire/ -- (NYSE:   FIC) Sandell Asset Management
 Corp. ("Sandell") sent a letter today to Dr. Mark N. Greene, Chief
 Executive Officer of Fair Isaac Corporation. Sandell also disclosed
 beneficial ownership of 5.0% of shares of Fair Isaac's common stock in a
 Schedule 13D filed with the Securities and Exchange Commission today. In
 the letter, Sandell expressed support for Dr. Greene's efforts to improve
 the operating and financial performance of the Company, but also cautioned
 that operational turnarounds can be fraught with risk and are sometimes
 better attempted as a part of a larger organization or in a private
 ownership context. Further, Sandell urged the Board of Directors to take
 the following actions:
     -- Closely monitor the progress of the turnaround and hold management to
        clearly defined milestones in a reasonable timeframe.
     -- Immediately engage a financial advisor to review the best risk-adjusted
        alternatives for Fair Isaac and its shareholders including a sale of
        the Company in whole or in part.
     -- Continue to aggressively repurchase shares at the current depressed
        valuation levels.
     "Fair Isaac has excellent products and strong market positions, but
 there is a clear disconnect between the value that these assets should be
 able to command in the marketplace and the current value implied by the
 share price. It is incumbent on management and the board to maximize the
 value of these assets, either through improved operational and financial
 performance or through a sale to a strategic or financial buyer," said
 Thomas E. Sandell, Chief Executive Officer of Sandell Asset Management
 Corp. "As the process continues, we hope to work constructively with Fair
 Isaac's management and board to improve the value for all shareholders."
     About Sandell Asset Management Corp.
     Sandell Asset Management Corp. is a multi-billion dollar global
 investment management firm, founded by Thomas E. Sandell, that focuses on
 global corporate events and restructurings throughout North America,
 Continental Europe, the United Kingdom, Latin America and the Asia-Pacific
 theatres. Sandell frequently will take an "active involvement" in
 facilitating financial or organization improvements accruing to the benefit
 of investors.

SOURCE Sandell Asset Management Corp.