Plumtree Software, Inc. announced that it has received an unsolicited conditional offer from the Sutter Opportunity Fund 2, LLC to acquire all outstanding shares of Plumtree common stock in exchange for $2.00 in cash and a promissory note due in five years. The offer came in the form of a letter dated September 3, 2002 from Sutter Capital Management of San Francisco to Plumtree CEO John Kunze. Plumtree’s Board of Directors will evaluate the terms of the offer in due course. Prior to receiving the letter, Plumtree had no contact with Sutter Capital Management.