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  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <P align="center" style="font-size: 10pt"><B>As filed with the Securities and Exchange Commission on February&nbsp;23, 2005</B>
  
  
  
  <DIV align="right" style="font-size: 10pt"><B>Registration No.&nbsp;333-</B></DIV>
  
  
  
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  
  
  <P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION</B>
  
  <DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000"></DIV>
  
  
  <DIV align="center" style="font-size: 18pt"><B>FORM S-8</B>
  </DIV>
  
  <P align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
  UNDER<BR>
  THE SECURITIES ACT OF 1933</B>
  
  
  
  <DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">
  </DIV>
  
  <DIV align="center" style="font-size: 24pt"><B>Progress Software Corporation</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="48%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="48%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>Massachusetts</B>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>04-2746201</B></TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">(State or other jurisdiction of incorporation or organization)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">(I.R.S. employer identification no.)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><B>14 Oak Park, Bedford, Massachusetts</B>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>01730</B></TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">(Address of principal executive offices)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">(Zip code)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><B>Progress Software Corporation 1991 Employee Stock Purchase Plan<BR>
  Progress Software Corporation 1997 Stock Incentive Plan<BR>
  Progress Software Corporation 2004 Inducement Stock Plan</B><BR>
  (Full title of the plan)
  
  
  
  <HR size="1" noshade width="26%" align="center" color="#000000">
  
  
  
  <DIV align="center" style="font-size: 10pt"><B>Joseph W. Alsop<BR>
  Progress Software Corporation<BR>
  14 Oak Park<BR>
  Bedford, Massachusetts 01730</B><BR>
  (Name and address of agent for service)
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><B>(781)&nbsp;280-4000</B><BR>
  (Telephone number, including area code, of agent for service)
  
  
  <DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000"></DIV>
  
  
  
  <DIV align="center" style="font-size: 10pt"><B>WITH A COPY TO:<BR>
  Robert L. Birnbaum, Esq.<BR>
  Foley Hoag </B><FONT style="font-variant: SMALL-CAPS"><B>LLP</B></FONT><BR>
  <B>155 Seaport Boulevard<BR>
  Boston, Massachusetts 02210<BR>
  (617)&nbsp;832-1000</B>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">
  
  
  
  <DIV align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="28%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="23%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="4%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="4%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="6%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="4%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="21" style="border-bottom: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>Title of</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Amount</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>securities to be </B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>to be</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>registration</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
  
      <TD nowrap align="center"><B>registered </B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>registered</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>per share</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>fee</B></TD>
      <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">common stock,
  $0.01 par value per
  share
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">1,700,000 shares (1)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">22.87</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">(2)</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">38,879,000</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">4,576.06</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">common stock, $0.01
  par value per share
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">2,500,000 shares (3)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">22.87</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">(2)</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">57,175,000</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">6,729.50</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">common stock, $0.01
  par value per share
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">75,000 shares (4)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">22.87</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">(2)</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">1,715,250</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">201.89</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">common stock, $0.01
  par value per share
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">125,000 shares (5)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">21.50</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">(6)</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">2,687,500</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">316.32</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;Total
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">4,400,000 shares
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">$</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">11,823.77</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="21" style="border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  <P>
  <DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  <P align="center" style="font-size: 10pt">
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <!-- TOC -->
  <A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>
  
  <P><CENTER>
  <TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
  <TR>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="76%"></TD>
  </TR>
  <TR><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interest of Named Experts and Counsel</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. Exhibits.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. Undertakings</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b53746s8exv5w1.htm">EX-5.1 Consent of Foley Hoag LLP</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b53746s8exv23w1.htm">EX-23.1 Consent of Deloitte & Touche LLP</A></TD></TR>
  </TABLE>
  </CENTER>
  <!-- /TOC -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  
  
  
  
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
      <TD>Represents shares of common stock issuable pursuant to the Progress Software Corporation
  1991 Employee Stock Purchase Plan.</TD>
  </TR>
  
  </TABLE>
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
      <TD>Calculated pursuant to Rules 457(c) and (h)(1) under the Securities Act of 1933 based on the
  average of the high and low sale prices of the common stock as reported on the Nasdaq National
  Market on February&nbsp;22, 2004.</TD>
  </TR>
  
  </TABLE>
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(3)&nbsp;&nbsp;</TD>
      <TD>Represents shares of common stock issuable upon exercise of stock options under the Progress
  Software Corporation 1997 Stock Incentive Plan.</TD>
  </TR>
  
  </TABLE>
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(4)&nbsp;&nbsp;</TD>
      <TD>Represents shares of common stock issuable upon exercise of stock options under the Progress
  Software Corporation 2004 Inducement Stock Plan.</TD>
  </TR>
  
  </TABLE>
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(5)&nbsp;&nbsp;</TD>
      <TD>Represents shares of common stock issuable upon exercise of outstanding stock options under
  the Progress Software Corporation 2004 Inducement Stock Plan.</TD>
  </TR>
  
  </TABLE>
  
  
  <P>
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(6)&nbsp;&nbsp;</TD>
      <TD>Calculated pursuant to Rules&nbsp;457(h)(1) under the Securities Act of 1933 based on $21.50, the
  per share exercise price of the stock options.</TD>
  </TR>
  
  </TABLE>
  
  <P align="center" style="font-size: 10pt">
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  
  
  </TABLE>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement covers 1,700,000 shares of our common stock issuable under
  our 1991 Employee Stock Purchase Plan. These shares are in addition to 300,000 shares of our
  common stock registered under our 1991 Employee Stock Purchase Plan pursuant to a registration
  statement on Form S-8, SEC File No.&nbsp;333-80571, filed with the Securities and Exchange Commission on
  June&nbsp;11, 1999 and 150,000 shares of our common stock registered under our 1991 Employee Stock
  Purchase Plan pursuant to a registration statement on Form S-8, SEC File No.&nbsp;033-41752, filed with
  the Securities and Exchange Commission on July&nbsp;30, 1991. Pursuant to Rule 416(a) under the
  Securities Act of 1933, as amended, and the antidilution provisions of our 1991 Employee Stock
  Purchase Plan, the 300,000 shares previously registered were adjusted to 600,000 shares on January
  21, 2000, the effective date of our 100% stock dividend and the 150,000 shares previously
  registered were adjusted to 300,000 shares on November&nbsp;27, 1995, the effective date of our 100%
  stock dividend; further adjusted to 450,000 shares on July&nbsp;13, 1998, the effective date of our 50%
  stock dividend; and further adjusted again to 900,000 shares on January&nbsp;21, 2000, the effective
  date of our 100% stock dividend.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement also covers 2,500,000 shares of our common stock issuable under
  our 1997 Stock Incentive Plan. These shares are in addition to 1,500,000 shares of our common
  stock registered under our 1997 Stock Incentive Plan pursuant to a registration statement on Form
  S-8, SEC File No.&nbsp;333-80559, filed with the Securities and Exchange Commission on June&nbsp;11, 1999 and
  680,000 shares of our common stock registered under our 1997 Stock Incentive Plan pursuant to a
  registration statement on Form S-8, SEC File No.&nbsp;333-41393, filed with the Securities and Exchange
  Commission on January&nbsp;3, 1997. Pursuant to Rule 416(a) under the Securities Act of 1933, as
  amended, and the antidilution provisions of our 1997 Stock Incentive Plan, the 1,500,000 shares
  previously registered were adjusted to adjusted to 3,000,000 shares on January&nbsp;21, 2000, the
  effective date of our 100% stock dividend and the 680,000 shares previously registered were
  adjusted to 1,020,000 shares on July&nbsp;13, 1998, the effective date of our 50% stock dividend; and
  further adjusted to 2,040,000 shares on January&nbsp;21, 2000, the effective date of our 100% stock
  dividend.
  
  
  <P align="center" style="font-size: 10pt">
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
  <DIV align="left"><A NAME="000"></A></DIV>
  
  <P align="center" style="font-size: 10pt"><B>PART II</B>
  
  
  
  <P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  
  
  <!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
  <DIV align="left"><A NAME="001"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, which we filed with the Securities and Exchange Commission, are
  incorporated by reference in this registration statement:
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Our annual report on Form 10-K for the fiscal year ended November&nbsp;30, 2004 filed on
  February&nbsp;14, 2005; and
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The description of our common stock contained in our registration statement on Form 8-A
  filed on July&nbsp;22, 1991 under Section&nbsp;12 of the Securities Exchange Act of 1934, as amended,
  including any amendment or report filed for the purpose of updating such description.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents subsequently filed by us pursuant to Sections&nbsp;13(a), 13(c), 14 or
  15(d) of the Securities Exchange Act of 1934, as amended, prior to the filing of a post-effective
  amendment which indicates that all securities offered have been sold or which deregisters all
  securities then remaining unsold, are deemed to be incorporated by reference into, and to be a part
  of, this registration statement.
  
  <!-- link2 "Item&nbsp;4. Description of Securities" -->
  <DIV align="left"><A NAME="002"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  
  <!-- link2 "Item&nbsp;5. Interest of Named Experts and Counsel" -->
  <DIV align="left"><A NAME="003"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interest of Named Experts and Counsel</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the securities we are registering is being passed upon by Foley Hoag LLP,
  Boston, Massachusetts.
  
  <!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
  <DIV align="left"><A NAME="004"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;6 of our restated articles of organization eliminates the personal liability of our
  directors to us or our stockholders for monetary damages arising out of such director&#146;s breach of
  fiduciary duty as one of our directors to the maximum extent permitted by Massachusetts law.
  Article&nbsp;VII of our by-laws provides that we shall indemnify our officers and directors, and
  directors, officers, trustees, employees and other agents of any organization in which we own
  shares or of which we are a creditor, or in any capacity with respect to one of our employee
  benefit plans, against all liabilities and expenses reasonably incurred by such officers,
  directors, employees and other agents in connection with the defense or disposition of any action,
  suit or proceeding in which they may be involved by reason of having been a director, officer,
  employee or other agent, except with respect to any matter as to which they shall have been
  adjudicated not to have acted in good faith and in the reasonable belief that their action was in
  our best interests.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.51 of Chapter&nbsp;156D of the Massachusetts General laws provides that a corporation may
  indemnify a director against liability if:
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;(i)&nbsp;he conducted himself in good faith; and
  
  
  <P align="center" style="font-size: 10pt">4
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) he reasonably believed that his conduct was in the best interests of the
  corporation or that his conduct was at least not opposed to the best interests of the
  corporation; and
  
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in the case of any criminal proceeding, he had no reasonable cause to believe
  his conduct was unlawful; or
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;he engaged in conduct for which he shall not be liable under a provision of the
  corporation&#146;s articles of organization authorized by Section&nbsp;2.02(b)(4) of Chapter&nbsp;156D of the
  Massachusetts General Laws.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.02(b)(4) of Chapter&nbsp;156D of the Massachusetts General Laws provides that the
  articles of organization of a corporation may state a provision eliminating or limiting the
  personal liability of a director to a corporation or its stockholders for monetary damages for
  breach of fiduciary duty as a director, provided, however, that such provision shall not eliminate
  or limit the liability of a director (a)&nbsp;for any breach of the director&#146;s duty of loyalty to the
  corporation or its stockholders, (b)&nbsp;for acts or omissions not in good faith or which involve
  intentional misconduct or a knowing violation of law, (c)&nbsp;for improper distributions to
  shareholders, or (d)&nbsp;for any transaction from which the director derived an improper personal
  benefit.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.52 of Chapter&nbsp;156D of the Massachusetts General Laws requires a corporation to
  indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any
  proceeding to which he was a party because he was a director against reasonable expenses incurred
  by him. Section&nbsp;8.56 of Chapter&nbsp;156D of the Massachusetts General Laws allows corporations to
  indemnify officers to the same or greater extent as directors.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The effect of these provisions would be to permit indemnification by us for, among other
  liabilities, liabilities arising out of the Securities Act of 1933, as amended.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.57 of Chapter&nbsp;156D of the Massachusetts General Laws also affords a Massachusetts
  corporation the power to obtain insurance on behalf of its directors and officers against
  liabilities incurred by them in those capacities. We maintain an officers&#146; and directors&#146;
  liability insurance policy.
  
  <!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
  <DIV align="left"><A NAME="005"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  
  <!-- link2 "Item&nbsp;8. Exhibits." -->
  <DIV align="left"><A NAME="006"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="13%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="21%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Filed with</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Incorporated by Reference</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center"><B>Exhibit </B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>this Form</B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No. </B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>S-8</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Form</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Filing Date</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated Articles of Organization
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" nowrap>10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;20, 1998
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed January&nbsp;19,
  1995
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;22, 1995
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed November&nbsp;17,
  1997
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;20, 1998
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.2</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed May&nbsp;6, 1999
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;25, 2000
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.3</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">5
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="13%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="21%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Filed with</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Incorporated by Reference</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center"><B>Exhibit </B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>this Form</B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No. </B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>S-8</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Form</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Filing Date</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed June&nbsp;17, 2000
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" nowrap>10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;27, 2001
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.4</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Specimen certificate for the
  common stock
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">S-1
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">June&nbsp;14, 1991
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">4.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of Foley Hoag LLP
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Foley Hoag LLP
  (included in Exhibit&nbsp;5.1)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Power of Attorney (contained on
  the signature page of this
  registration statement)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <!-- link2 "Item&nbsp;9. Undertakings" -->
  <DIV align="left"><A NAME="007"></A></DIV>
  
  <P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings</B>
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
  
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:
  
  
  
  <P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
  Act of 1933;
  
  
  
  <P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the
  effective date of the registration statement (or the most recent post-effective
  amendment thereof) which, individually or in the aggregate, represent a fundamental
  change in the information set forth in the registration statement. Notwithstanding
  the foregoing, any increase or decrease in volume of securities offered (if the
  total dollar value of securities offered would not exceed that which was registered)
  and any deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant to
  Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
  than 20&nbsp;percent change in the maximum aggregate offering price set forth in the
  &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and
  
  
  <P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
  distribution not previously disclosed in the registration statement or any material
  change to such information in the registration statement;
  
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
  statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included
  in a post-effective amendment by those paragraphs is contained in periodic reports filed
  with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or 15(d) of the
  Securities Exchange Act of 1934 that are incorporated by reference in this registration
  statement.
  
  
  <P align="center" style="font-size: 10pt">6
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of
  1933, each such post-effective amendment shall be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that time
  shall be deemed to be the initial <I>bona fide </I>offering thereof; and
  
  
  
  <P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
  liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
  to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
  filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities
  Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
  deemed to be a new registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering
  thereof.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the registrant pursuant to the
  foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
  Securities and Exchange Commission such indemnification is against public policy as expressed in
  the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
  such liabilities (other than the payment by the registrant of expenses incurred or paid by a
  director, officer or controlling person of the registrant in the successful defense of any action,
  suit or proceeding) is asserted by such director, officer or controlling person in connection with
  the securities being registered, the registrant will, unless in the opinion of its counsel the
  matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Act and
  will be governed by the final adjudication of such issue.
  
  
  <P align="center" style="font-size: 10pt">7
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "SIGNATURES" -->
  <DIV align="left"><A NAME="008"></A></DIV>
  
  <P align="center" style="font-size: 10pt"><B>SIGNATURES</B>
  
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that
  it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
  and has duly caused this registration statement to be signed on its behalf by the undersigned,
  thereunto duly authorized, in Bedford, Massachusetts, as of February&nbsp;23, 2005.
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="48%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="36%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="10%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="5" valign="top" align="left"><B>P<SMALL>ROGRESS</SMALL> S<SMALL>OFTWARE</SMALL> C<SMALL>ORPORATION</SMALL></B></TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">By:
  </TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">/s/ Norman R. Robertson</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Norman R. Robertson<BR></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Senior Vice President, Finance and Administration<BR></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">and Chief Financial Officer</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>
  
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL BY THESE PRESENTS that each individual whose signature appears below hereby
  constitutes and appoints Joseph W. Alsop and Norman R. Robertson, and each of them, his or her true
  and lawful attorneys-in-fact and agents with full power of substitution, for him or her and in his
  or her name, place and stead, in any and all capacities, to sign any and all amendments (including
  post-effective amendments) to this registration statement, and to file the same, with all exhibits
  thereto, and all documents in connection therewith, with the Securities and Exchange Commission,
  granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
  and perform each and every act and thing which they, or any of them, may deem necessary or
  advisable to be done in connection with this registration statement, as fully to all intents and
  purposes as he or she might or could do in person, hereby ratifying and confirming all that said
  attorneys-in-fact and agents or any of them, or any substitute or substitutes for him or her, or
  any or all of them, may lawfully do or cause to be done by virtue hereof.
  
  
  <P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this registration statement has been
  signed by the following persons in the indicated capacities as of February&nbsp;23, 2005.
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="31%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="64%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature </B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Chief Executive Officer and Director (Principal</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Joseph W. Alsop
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Executive Officer)</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joseph W. Alsop</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Senior Vice President, Finance and Administration</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Norman R. Robertson
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">and Chief Financial Officer</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">(Principal Financial Officer)</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Norman R. Robertson
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David H. Benton, Jr.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Vice President and Corporate Controller</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">(Principal Accounting Officer)</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David H. Benton, Jr.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Larry R. Harris
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Larry R. Harris</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Roger J. Heinen, Jr.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Roger J. Heinen, Jr.</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="31%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="64%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature </B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Michael L. Mark
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael L. Mark</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Scott A. McGregor
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Scott A. McGregor</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Amram Rasiel
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD align="left" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><HR size="1" noshade color="#000000"></DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amram Rasiel</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt">
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- link1 "EXHIBIT INDEX" -->
  <DIV align="left"><A NAME="009"></A></DIV>
  
  <P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
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      <TD width="13%">&nbsp;</TD>
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      <TD width="40%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="21%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>Filed with</B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center"><B>Exhibit</B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center"><B>this Form</B></TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Incorporated by Reference</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>S-8</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Form</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Filing Date</B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>No.</B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated Articles of Organization
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" nowrap>10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;20, 1998
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed January&nbsp;19,
  1995
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;22, 1995
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed November&nbsp;17,
  1997
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;20, 1998
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.2</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed May&nbsp;6, 1999
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;25, 2000
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.3</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Articles of Amendment to
  Restated Articles of
  Organization filed June&nbsp;17, 2000
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">10-K
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;27, 2001
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">3.1.4</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Specimen certificate for the common stock
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">S-1
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">June&nbsp;14, 1991
  </TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">4.1</TD>
      <TD nowrap valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of Foley Hoag LLP
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Deloitte &#038; Touche LLP
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Foley Hoag LLP
  (included in Exhibit&nbsp;5.1)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Power of Attorney (contained on
  the signature page of this
  registration statement)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">X</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="right" valign="top">&nbsp;</TD>
      <TD align="right" valign="top">&nbsp;</TD>
      <TD valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
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text: sv8
  Table of Contents
  As filed with the Securities and Exchange Commission on February 23, 2005
  Registration No. 333-
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  Progress Software Corporation
  (Exact name of registrant as specified in its charter)
  Massachusetts
  04-2746201
  (State or other jurisdiction of incorporation or organization)
  (I.R.S. employer identification no.)
  14 Oak Park, Bedford, Massachusetts
  01730
  (Address of principal executive offices)
  (Zip code)
  Progress Software Corporation 1991 Employee Stock Purchase Plan
  Progress Software Corporation 1997 Stock Incentive Plan
  Progress Software Corporation 2004 Inducement Stock Plan
  (Full title of the plan)
  Joseph W. Alsop
  Progress Software Corporation
  14 Oak Park
  Bedford, Massachusetts 01730
  (Name and address of agent for service)
  (781) 280-4000
  (Telephone number, including area code, of agent for service)
  WITH A COPY TO:
  Robert L. Birnbaum, Esq.
  Foley Hoag
  LLP
  155 Seaport Boulevard
  Boston, Massachusetts 02210
  (617) 832-1000
  CALCULATION OF REGISTRATION FEE
  Title of
  Amount
  Proposed maximum
  Proposed maximum
  Amount of
  securities to be
  to be
  offering price
  aggregate
  registration
  registered
  registered
  per share
  offering price
  fee
  common stock,
  $0.01 par value per
  share
  1,700,000 shares (1)
  $
  22.87
  (2)
  $
  38,879,000
  $
  4,576.06
  common stock, $0.01
  par value per share
  2,500,000 shares (3)
  $
  22.87
  (2)
  $
  57,175,000
  $
  6,729.50
  common stock, $0.01
  par value per share
  75,000 shares (4)
  $
  22.87
  (2)
  $
  1,715,250
  $
  201.89
  common stock, $0.01
  par value per share
  125,000 shares (5)
  $
  21.50
  (6)
  $
  2,687,500
  $
  316.32
  Total
  4,400,000 shares
  $
  11,823.77
  TABLE OF CONTENTS
  PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference
  Item 4. Description of Securities
  Item 5. Interest of Named Experts and Counsel
  Item 6. Indemnification of Directors and Officers
  Item 7. Exemption from Registration Claimed
  Item 8. Exhibits.
  Item 9. Undertakings
  SIGNATURES
  EXHIBIT INDEX
  EX-5.1 Consent of Foley Hoag LLP
  EX-23.1 Consent of Deloitte & Touche LLP
  Table of Contents
  (1)
  Represents shares of common stock issuable pursuant to the Progress Software Corporation
  1991 Employee Stock Purchase Plan.
  (2)
  Calculated pursuant to Rules 457(c) and (h)(1) under the Securities Act of 1933 based on the
  average of the high and low sale prices of the common stock as reported on the Nasdaq National
  Market on February 22, 2004.
  (3)
  Represents shares of common stock issuable upon exercise of stock options under the Progress
  Software Corporation 1997 Stock Incentive Plan.
  (4)
  Represents shares of common stock issuable upon exercise of stock options under the Progress
  Software Corporation 2004 Inducement Stock Plan.
  (5)
  Represents shares of common stock issuable upon exercise of outstanding stock options under
  the Progress Software Corporation 2004 Inducement Stock Plan.
  (6)
  Calculated pursuant to Rules 457(h)(1) under the Securities Act of 1933 based on $21.50, the
  per share exercise price of the stock options.
  Table of Contents
  This registration statement covers 1,700,000 shares of our common stock issuable under
  our 1991 Employee Stock Purchase Plan. These shares are in addition to 300,000 shares of our
  common stock registered under our 1991 Employee Stock Purchase Plan pursuant to a registration
  statement on Form S-8, SEC File No. 333-80571, filed with the Securities and Exchange Commission on
  June 11, 1999 and 150,000 shares of our common stock registered under our 1991 Employee Stock
  Purchase Plan pursuant to a registration statement on Form S-8, SEC File No. 033-41752, filed with
  the Securities and Exchange Commission on July 30, 1991. Pursuant to Rule 416(a) under the
  Securities Act of 1933, as amended, and the antidilution provisions of our 1991 Employee Stock
  Purchase Plan, the 300,000 shares previously registered were adjusted to 600,000 shares on January
  21, 2000, the effective date of our 100% stock dividend and the 150,000 shares previously
  registered were adjusted to 300,000 shares on November 27, 1995, the effective date of our 100%
  stock dividend; further adjusted to 450,000 shares on July 13, 1998, the effective date of our 50%
  stock dividend; and further adjusted again to 900,000 shares on January 21, 2000, the effective
  date of our 100% stock dividend.
  This registration statement also covers 2,500,000 shares of our common stock issuable under
  our 1997 Stock Incentive Plan. These shares are in addition to 1,500,000 shares of our common
  stock registered under our 1997 Stock Incentive Plan pursuant to a registration statement on Form
  S-8, SEC File No. 333-80559, filed with the Securities and Exchange Commission on June 11, 1999 and
  680,000 shares of our common stock registered under our 1997 Stock Incentive Plan pursuant to a
  registration statement on Form S-8, SEC File No. 333-41393, filed with the Securities and Exchange
  Commission on January 3, 1997. Pursuant to Rule 416(a) under the Securities Act of 1933, as
  amended, and the antidilution provisions of our 1997 Stock Incentive Plan, the 1,500,000 shares
  previously registered were adjusted to adjusted to 3,000,000 shares on January 21, 2000, the
  effective date of our 100% stock dividend and the 680,000 shares previously registered were
  adjusted to 1,020,000 shares on July 13, 1998, the effective date of our 50% stock dividend; and
  further adjusted to 2,040,000 shares on January 21, 2000, the effective date of our 100% stock
  dividend.
  Table of Contents
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference
  The following documents, which we filed with the Securities and Exchange Commission, are
  incorporated by reference in this registration statement:
  (a) Our annual report on Form 10-K for the fiscal year ended November 30, 2004 filed on
  February 14, 2005; and
  (b) The description of our common stock contained in our registration statement on Form 8-A
  filed on July 22, 1991 under Section 12 of the Securities Exchange Act of 1934, as amended,
  including any amendment or report filed for the purpose of updating such description.
  In addition, all documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 or
  15(d) of the Securities Exchange Act of 1934, as amended, prior to the filing of a post-effective
  amendment which indicates that all securities offered have been sold or which deregisters all
  securities then remaining unsold, are deemed to be incorporated by reference into, and to be a part
  of, this registration statement.
  Item 4. Description of Securities
  Not Applicable.
  Item 5. Interest of Named Experts and Counsel
  The validity of the securities we are registering is being passed upon by Foley Hoag LLP,
  Boston, Massachusetts.
  Item 6. Indemnification of Directors and Officers
  Article 6 of our restated articles of organization eliminates the personal liability of our
  directors to us or our stockholders for monetary damages arising out of such director's breach of
  fiduciary duty as one of our directors to the maximum extent permitted by Massachusetts law.
  Article VII of our by-laws provides that we shall indemnify our officers and directors, and
  directors, officers, trustees, employees and other agents of any organization in which we own
  shares or of which we are a creditor, or in any capacity with respect to one of our employee
  benefit plans, against all liabilities and expenses reasonably incurred by such officers,
  directors, employees and other agents in connection with the defense or disposition of any action,
  suit or proceeding in which they may be involved by reason of having been a director, officer,
  employee or other agent, except with respect to any matter as to which they shall have been
  adjudicated not to have acted in good faith and in the reasonable belief that their action was in
  our best interests.
  Section 8.51 of Chapter 156D of the Massachusetts General laws provides that a corporation may
  indemnify a director against liability if:
  (1) (i) he conducted himself in good faith; and
  4
  Table of Contents
  (ii) he reasonably believed that his conduct was in the best interests of the
  corporation or that his conduct was at least not opposed to the best interests of the
  corporation; and
  (iii) in the case of any criminal proceeding, he had no reasonable cause to believe
  his conduct was unlawful; or
  (2) he engaged in conduct for which he shall not be liable under a provision of the
  corporation's articles of organization authorized by Section 2.02(b)(4) of Chapter 156D of the
  Massachusetts General Laws.
  Section 2.02(b)(4) of Chapter 156D of the Massachusetts General Laws provides that the
  articles of organization of a corporation may state a provision eliminating or limiting the
  personal liability of a director to a corporation or its stockholders for monetary damages for
  breach of fiduciary duty as a director, provided, however, that such provision shall not eliminate
  or limit the liability of a director (a) for any breach of the director's duty of loyalty to the
  corporation or its stockholders, (b) for acts or omissions not in good faith or which involve
  intentional misconduct or a knowing violation of law, (c) for improper distributions to
  shareholders, or (d) for any transaction from which the director derived an improper personal
  benefit.
  Section 8.52 of Chapter 156D of the Massachusetts General Laws requires a corporation to
  indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any
  proceeding to which he was a party because he was a director against reasonable expenses incurred
  by him. Section 8.56 of Chapter 156D of the Massachusetts General Laws allows corporations to
  indemnify officers to the same or greater extent as directors.
  The effect of these provisions would be to permit indemnification by us for, among other
  liabilities, liabilities arising out of the Securities Act of 1933, as amended.
  Section 8.57 of Chapter 156D of the Massachusetts General Laws also affords a Massachusetts
  corporation the power to obtain insurance on behalf of its directors and officers against
  liabilities incurred by them in those capacities. We maintain an officers' and directors'
  liability insurance policy.
  Item 7. Exemption from Registration Claimed
  Not Applicable.
  Item 8. Exhibits.
  Filed with
  Incorporated by Reference
  Exhibit
  this Form
  Exhibit
  No.
  Description
  S-8
  Form
  Filing Date
  No.
  4.1
  Restated Articles of Organization
  10-K
  February 20, 1998
  3.1
  4.2
  Articles of Amendment to
  Restated Articles of
  Organization filed January 19,
  1995
  10-K
  February 22, 1995
  3.1.1
  4.3
  Articles of Amendment to
  Restated Articles of
  Organization filed November 17,
  1997
  10-K
  February 20, 1998
  3.1.2
  4.4
  Articles of Amendment to
  Restated Articles of
  Organization filed May 6, 1999
  10-K
  February 25, 2000
  3.1.3
  5
  Table of Contents
  Filed with
  Incorporated by Reference
  Exhibit
  this Form
  Exhibit
  No.
  Description
  S-8
  Form
  Filing Date
  No.
  4.5
  Articles of Amendment to
  Restated Articles of
  Organization filed June 17, 2000
  10-K
  February 27, 2001
  3.1.4
  4.6
  Specimen certificate for the
  common stock
  S-1
  June 14, 1991
  4.1
  5.1
  Opinion of Foley Hoag LLP
  X
  23.1
  Consent of Deloitte & Touche LLP
  X
  23.2
  Consent of Foley Hoag LLP
  (included in Exhibit 5.1)
  X
  24.1
  Power of Attorney (contained on
  the signature page of this
  registration statement)
  X
  Item 9. Undertakings
  (a) The undersigned registrant hereby undertakes:
  (1) To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:
  (i) To include any prospectus required by Section 10(a)(3) of the Securities
  Act of 1933;
  (ii) To reflect in the prospectus any facts or events arising after the
  effective date of the registration statement (or the most recent post-effective
  amendment thereof) which, individually or in the aggregate, represent a fundamental
  change in the information set forth in the registration statement. Notwithstanding
  the foregoing, any increase or decrease in volume of securities offered (if the
  total dollar value of securities offered would not exceed that which was registered)
  and any deviation from the low or high end of the estimated maximum offering range
  may be reflected in the form of prospectus filed with the Commission pursuant to
  Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
  than 20 percent change in the maximum aggregate offering price set forth in the
  "Calculation of Registration Fee" table in the effective registration statement; and
  (iii) To include any material information with respect to the plan of
  distribution not previously disclosed in the registration statement or any material
  change to such information in the registration statement;
  provided, however
  , that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
  statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included
  in a post-effective amendment by those paragraphs is contained in periodic reports filed
  with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934 that are incorporated by reference in this registration
  statement.
  6
  Table of Contents
  (2) That, for the purpose of determining any liability under the Securities Act of
  1933, each such post-effective amendment shall be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that time
  shall be deemed to be the initial
  bona fide
  offering thereof; and
  (3) To remove from registration by means of post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  (b) The undersigned registrant hereby undertakes that, for purposes of determining any
  liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
  to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
  filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities
  Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
  deemed to be a new registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial
  bona fide
  offering
  thereof.
  (c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the registrant pursuant to the
  foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
  Securities and Exchange Commission such indemnification is against public policy as expressed in
  the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
  such liabilities (other than the payment by the registrant of expenses incurred or paid by a
  director, officer or controlling person of the registrant in the successful defense of any action,
  suit or proceeding) is asserted by such director, officer or controlling person in connection with
  the securities being registered, the registrant will, unless in the opinion of its counsel the
  matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Act and
  will be governed by the final adjudication of such issue.
  7
  Table of Contents
  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that
  it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
  and has duly caused this registration statement to be signed on its behalf by the undersigned,
  thereunto duly authorized, in Bedford, Massachusetts, as of February 23, 2005.
  P
  ROGRESS
  S
  OFTWARE
  C
  ORPORATION
  By:
  /s/ Norman R. Robertson
  Norman R. Robertson
  Senior Vice President, Finance and Administration
  and Chief Financial Officer
  POWER OF ATTORNEY
  KNOW ALL BY THESE PRESENTS that each individual whose signature appears below hereby
  constitutes and appoints Joseph W. Alsop and Norman R. Robertson, and each of them, his or her true
  and lawful attorneys-in-fact and agents with full power of substitution, for him or her and in his
  or her name, place and stead, in any and all capacities, to sign any and all amendments (including
  post-effective amendments) to this registration statement, and to file the same, with all exhibits
  thereto, and all documents in connection therewith, with the Securities and Exchange Commission,
  granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
  and perform each and every act and thing which they, or any of them, may deem necessary or
  advisable to be done in connection with this registration statement, as fully to all intents and
  purposes as he or she might or could do in person, hereby ratifying and confirming all that said
  attorneys-in-fact and agents or any of them, or any substitute or substitutes for him or her, or
  any or all of them, may lawfully do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act, this registration statement has been
  signed by the following persons in the indicated capacities as of February 23, 2005.
  Signature
  Title
  Chief Executive Officer and Director (Principal
  /s/ Joseph W. Alsop
  Executive Officer)
  Joseph W. Alsop
  Senior Vice President, Finance and Administration
  /s/ Norman R. Robertson
  and Chief Financial Officer
  (Principal Financial Officer)
  Norman R. Robertson
  /s/ David H. Benton, Jr.
  Vice President and Corporate Controller
  (Principal Accounting Officer)
  David H. Benton, Jr.
  /s/ Larry R. Harris
  Director
  Larry R. Harris
  /s/ Roger J. Heinen, Jr.
  Director
  Roger J. Heinen, Jr.
  Table of Contents
  Signature
  Title
  /s/ Michael L. Mark
  Director
  Michael L. Mark
  /s/ Scott A. McGregor
  Director
  Scott A. McGregor
  /s/ Amram Rasiel
  Director
  Amram Rasiel
  Table of Contents
  EXHIBIT INDEX
  Filed with
  Exhibit
  this Form
  Incorporated by Reference
  Exhibit
  No.
  Description
  S-8
  Form
  Filing Date
  No.
  4.1
  Restated Articles of Organization
  10-K
  February 20, 1998
  3.1
  4.2
  Articles of Amendment to
  Restated Articles of
  Organization filed January 19,
  1995
  10-K
  February 22, 1995
  3.1.1
  4.3
  Articles of Amendment to
  Restated Articles of
  Organization filed November 17,
  1997
  10-K
  February 20, 1998
  3.1.2
  4.4
  Articles of Amendment to
  Restated Articles of
  Organization filed May 6, 1999
  10-K
  February 25, 2000
  3.1.3
  4.5
  Articles of Amendment to
  Restated Articles of
  Organization filed June 17, 2000
  10-K
  February 27, 2001
  3.1.4
  4.6
  Specimen certificate for the common stock
  S-1
  June 14, 1991
  4.1
  5.1
  Opinion of Foley Hoag LLP
  X
  23.1
  Consent of Deloitte & Touche LLP
  X
  23.2
  Consent of Foley Hoag LLP
  (included in Exhibit 5.1)
  X
  24.1
  Power of Attorney (contained on
  the signature page of this
  registration statement)
  X