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The one-time restructuring charge of $4,796,000 for the fourth quarter is related to the recently announced reduction in the SCO worldwide workforce, in anticipation of the upcoming sale of the Server Software and Professional Services divisions to Caldera Systems, Inc. In addition, a $5,821,000 charge for a one-time reduction in deferred tax assets was taken. This was based on management's assessment of SCO's historical business performance, using the guidance in Financial Accounting Standards Board (FASB) Statement number 109 "Accounting for Income Taxes," which is used to determine the appropriate treatment of net deferred tax assets.

Fourth fiscal quarter revenues for the Tarantella Division increased 71% to $4,316,000 from the $2,528,000 reported in fiscal Q3. The net loss for the division was $5,960,000, down from the net loss of $8,537,000 reported in the third fiscal quarter.

Tarantella's customer base continued to grow with significant customer wins during the quarter including BankOne and three other large banks, Northwest Airlines, Pepsico Snacks, two major European telecom providers, and several others. The division also recently announced the latest version of its flagship product, Tarantella Enterprise 3 web-enabling software, which features enhanced scalability and an extended range of supported application types, servers, and clients.

During the quarter, the division launched its ASP Connect program, which brings OEMs, ISVs, ASPs and resellers together to create and deliver solutions through the ASP model. Mike Orr, president of the Tarantella Division commented, "The ASP market represents a tremendous opportunity for Tarantella. It is an efficient channel for reaching new customers and we have already seen a very successful response to the program with more than 50 members, since its launch in June."

Fourth quarter revenues for the Server Software Division increased 14% to $28,304,000, compared to $24,757,000 reported in the third fiscal quarter. The division's net loss for the quarter was $2,521,000, compared to a net loss of $8,511,000 reported last quarter. "I'm pleased to see sequential growth in sales for our UnixWare7 and UnixWare7 NonStop Clusters products and stabilization of the channel," said David McCrabb, president of the Server Software division.

The Professional Services Division's fourth fiscal quarter revenues increased 40% to $1,181,000, from the $842,000 reported last quarter. The division's net loss for the quarter was $833,000, compared to a net loss of $1,550,000 in the third fiscal quarter. This quarter the division began to see a conversion in the pipeline to high-quality, longer term and larger transactions.

Doug Michels, President and CEO of SCO said, "We are very encouraged by the sequential growth in revenues we are reporting today, specifically in our Tarantella division. This growth was fueled by increasing demand of scalable web-based applications and the accelerating adoption of the Tarantella solution."

Update on Pending Sale of Divisions

The company also reported that it expects its pending sale of the Server Software and Professional Services divisions to Caldera Systems to close during its second quarter of fiscal 2001. Michels commented, "We are disappointed that, due to certain regulatory processes beyond our control, the completion of the transaction with Caldera has taken longer than we originally expected. However, both companies remain very optimistic about the successful completion of the deal and are working closely with regulatory officials to ensure an expeditious close."

Michels added, "We are fully committed to completing this transaction so we can focus our efforts on growing the worldwide market for Tarantella software. We also acted as a distributor for Caldera Systems and signed our first Linux product sale to one of our key OEMs this quarter, evidencing the start of future synergy between the UNIX system and Linux product lines."

Conclusion

"The business is poised for the future," Michels continued. "We had significant growth in Tarantella this quarter, the Server business is stabilizing, and the Professional Services business continues to strengthen. Going forward, we plan to invest further in Tarantella, leveraging our technology to take advantage of the largely untapped market for web-enabled applications."

Conference Call

SCO will hold a conference call to discuss fourth quarter and fiscal 2000 year-end financial results, as well as provide an update on the company, at 1:45 p.m. PDT today.

The conference call may be accessed in listen-only mode by dialing 913-981-5543 and will also be broadcast live over the Internet, and can be accessed by all interested parties through the SCO website at investor.sco.com . Please access the website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software.

A replay of the call will be available via the web at investor.sco.com, beginning at approximately 4:00 p.m. on October 24 until October 31.

For SCO Investors

This release contains forward-looking statements, including statements relating to SCO's expectations for market share growth, demand for its products, technologies and services, generating momentum in its customer base, stability of the sales channel, and the pending sale of SCO's Server Software and Professional Services divisions to Caldera Systems, Inc., which are based on current expectations that involve risks and uncertainties. SCO's actual results may differ materially from the results discussed in these forward-looking statements. Factors that may contribute to such a difference include, but are not limited to, uncertainty in domestic and international markets, changes in customer implementation plans, the ability to reduce expenses, risks of dependence upon third-party suppliers, impact and success of industry partnerships, conclusion or success of strategic opportunities, timely availability of products, market acceptance of new products, including internet-related products, the impact of competitive products, general market conditions including SCO's ability to compete in the highly competitive and rapidly changing marketplace, and other risks detailed from time to time in SCO's SEC filings, including forms 10-Q and 10-K. SCO disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

About The Santa Cruz Operation, Inc.

With headquarters in Santa Cruz, CA, The Santa Cruz Operation, Inc. is comprised of three independent divisions -- Tarantella, Inc., the Server Software Division, and the Professional Services Division. The Server Software Division is a leading provider of UNIX server operating systems. Tarantella, Inc. promotes a range of software technologies and products that web-enable any application instantly, for access by users anywhere. The Professional Services Division helps organizations create and deploy personalized IT strategies. The three divisions sell and support their products and services through a worldwide network of distributors, resellers, systems integrators, and OEMs. For more information, visit SCO's home page at www.sco.com.

NOTE: The Santa Cruz Operation, SCO, Tarantella, Enterprise 3, the Tarantella logo, and UnixWare, are trademarks or registered trademarks of The Santa Cruz Operation, Inc. in the USA and other countries. NonStop is a registered trademark of Compaq Computer Corporation. UNIX is a registered trademark of The Open Group in the US and other countries. Linux is a registered trademark of Linus Torvalds in the US and other countries. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.

   THE SANTA CRUZ OPERATION, INC.

   CONSOLIDATED BALANCE SHEETS        September 30,    September 30,
   (In thousands)                          2000           1999
   Assets
   Current assets:
    Cash and cash equivalents             $20,879         $33,683
    Short-term investments                  5,567          29,161
    Receivables, net                       24,269          32,309
    Available-for-sale equity securities    7,119              --
    Deferred tax assets                        --           1,202
    Other current assets                    4,358           6,310
     Total current assets                  62,192         102,665
   Property and equipment, net              9,012          12,234
   Purchased software and
    technology licenses, net                5,830          10,431
   Long-term deferred tax assets               --           6,623
   Other assets                             5,168           7,331
     Total assets                         $82,202        $139,284
   Liabilities and
    Shareholders' Equity

   Current liabilities:
    Trade accounts payable                 $5,521          $7,482
    Royalties payable                       4,530           7,217
    Income taxes payable                    1,964           1,983
    Deferred income taxes                      --              --
    Accrued expenses and other
     current liabilities                   26,189          32,314
    Deferred revenues                       7,334           8,856

     Total current liabilities             45,538          57,852
   Long-term lease obligations                545           2,332
   Long-term deferred revenues              1,397           2,571
   Other long-term liabilities              3,520           6,191
     Total long-term liabilities            5,462          11,094
   Shareholders' Equity
    Common stock, no par value,
     net, authorized 100,000 shares
     Issued and outstanding 39,436
      and 34,346 shares                   118,940         106,201
    Accumulated other comprehensive
     income                                 5,486             408
   Accumulated deficit                    (93,224)        (36,271)
     Total shareholders' equity            31,202          70,338
   Total liabilities and
     shareholders' equity                  $82,202        $139,284

   See accompanying notes to consolidated financial statements.


                       THE SANTA CRUZ OPERATION, INC.

   CONSOLIDATED BALANCE SHEETS                  September 30,  June 30, 2000
   (In thousands)                                      2000    (Unaudited)

   Assets
   Current assets:
    Cash and cash equivalents                        $20,879        $12,078
    Short-term investments                             5,567         19,267
    Receivables, net                                  24,269         19,205
    Available-for-sale equity securities               7,119         10,504
    Deferred tax assets                                    0              3
    Other current assets                               4,358          5,042
     Total current assets                             62,192         66,099
   Property and equipment, net                         9,012         10,160
   Purchased software and technology licenses, net     5,830          7,195
   Long-term deferred tax assets                           0          6,623
   Other assets                                        5,168          7,349
     Total assets                                    $82,202        $97,426
   Liabilities and Shareholders' Equity
   Current liabilities:
    Trade accounts payable                            $5,521         $5,057
    Royalties payable                                  4,530          4,194
    Income taxes payable                               1,964          3,638
    Deferred income taxes                                  0          2,388
    Accrued expenses and other current
     liabilities                                      26,189         28,177
    Deferred revenues                                  7,334          8,346
     Total current liabilities                        45,538         51,800
   Long-term lease obligations                           545            840
   Long-term deferred revenues                         1,397          1,465
   Other long-term liabilities                         3,520          4,755
     Total long-term liabilities                       5,462          7,060
   Shareholders' Equity
    Common stock, no par value, net,
     authorized 100,000 shares
     Issued and outstanding 39,436
     and 35,948 shares                               118,940        105,491
   Accumulated other comprehensive income              5,486          5,520
   Accumulated deficit                               (93,224)       (72,445)
     Total shareholders' equity                       31,202         38,566
     Total liabilities and
      shareholders' equity                           $82,202        $97,426

  See accompanying notes to consolidated financial statements.

   THE SANTA CRUZ OPERATION, INC.

   CONSOLIDATED STATEMENTS OF OPERATIONS
   (In thousands, except earnings per share)

                           Three Months Ended            Year Ended
                              September 30,             September 30,
                           2000          1999         2000          1999
                              (Unaudited)
   Net revenues
    Licenses               $28,767       $54,203     $133,510      $208,466
    Services                 4,030         3,917       15,413        15,158
     Total net revenues     32,797        58,120      148,923       223,624
   Cost of revenues
    Licenses                 5,707         7,101       22,366        30,450
    Services                 4,320         5,179       19,430        19,328
     Total cost of
      revenues              10,027        12,280       41,796        49,778
     Gross margin           22,770        45,840      107,127       173,846
   Operating expenses:
    Research and
     development             7,931        10,746       39,673        42,376
    Sales and marketing     19,322        26,543       89,313        98,525
    General and
     administrative          4,835         3,615       18,691        16,572
    Restructuring charges    4,796            --       10,683            --
     Total operating
      expenses              36,884        40,904      158,360       157,473
      Operating income     (14,114)        4,936      (51,233)       16,373
   Other income (expense):
    Interest income, net        79           410        1,679         1,942
    Other expense, net       (758)           905          819         1,939
     Income before
      income taxes        (14,793)         6,251      (48,735)       20,254
   Income taxes             5,986            876        8,218         3,396
     Net income (loss)    (20,779)         5,375      (56,953)       16,858
   Other comprehensive
     income (loss), net of tax
    Unrealized loss
      on available-for-sale
      equity securities       201            --         5,617            --
    Foreign currency
     translation adjustment  (235)          (26)         (539)         (905)
     Comprehensive
      income (loss)      $(20,813)        $5,349     $(51,875)       $15,953
   Earnings (loss)
    per share:
    Basic                  $(0.56)         $0.16       $(1.59)         $0.49
    Diluted                $(0.56)         $0.14       $(1.59)         $0.46
   Shares used in
    earnings (loss)
    per share calculation:
    Basic                  36,789         33,880       35,720         34,232
    Diluted                36,789         38,319       35,720         36,402

   See accompanying notes to consolidated financial statements.

SOURCE Santa Cruz Operation, Inc.

CONTACT:          Lynn Schroeder, Investor Relations, 831-427-7399, or
                 lynnsc@sco.com, or Randy Bresee, CFO, 831-427-7661, or randy@sco.com, or
                 Jan Tarzia, Public Relations, all of Santa Cruz Operation, Inc.; or
                 Mary Magnani of The Carson Group, 415-617-2542, or mmagnani@carsongroup.com,
                 for Santa Cruz Operation, Inc.,

URL:              www.sco.com
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