EXHIBIT 99.2
CONTACT: Investors & Analysts
         Heidi Flannery
         Fair Isaac
         (800)213-5542
         investor@fairisaac.com


                    FAIR ISAAC CORPORATION PRICES OFFERING OF
               $350 MILLION 1.5% SENIOR CONVERTIBLE NOTES DUE 2023

      July 31, 2003 (San Rafael, California, USA) - Fair Isaac Corporation
(NYSE: FIC) announced today the pricing of its offering of $350 million
aggregate principal amount of its 1.5% Senior Convertible Notes due August 15,
2023 to qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933 (the "Securities Act"). The sale of the notes is expected
to close on August 6, 2003. The company has also granted the initial purchasers
a 13-day option beginning on the date of initial issuance of the notes to
purchase up to an additional $50 million principal amount of notes.

      The notes will bear regular interest at an annual rate of 1.5%. Regular
interest will be payable semi-annually through August 15, 2008 and thereafter
will accrue and be due and payable only upon the earlier to occur of redemption,
repurchase or final maturity. Contingent interest will accrue at the rate of
0.25% per annum beginning August 15, 2008 if the average trading price of a note
for the five trading day period immediately preceding the first day of the
applicable six-month period equals 120% or more of the sum of the principal
amount of the note plus accrued and unpaid regular interest thereon.

      The notes will be convertible prior to maturity, if certain conditions are
satisfied, into shares of Fair Isaac's common stock at a conversion price of
$65.93 per share (an effective conversion rate of approximately 15.1679 shares
per $1,000 principal amount of notes), subject to certain adjustments. The
initial conversion price represents a 22% percent premium to the closing price
on The New York Stock Exchange on July 31, 2003, which was $54.04 per share.

      Holders of the notes will have the right to require Fair Isaac to
repurchase the notes on August 15 of 2007, 2008, 2013 and 2018 at a price of 100
percent of their principal amount, plus accrued and unpaid interest. Fair Isaac
may redeem the notes for cash on and after August 15, 2008 at a price equal to
100 percent of their principal amount, plus accrued and unpaid interest.

      The company intends to use the net proceeds from the offering for working
capital and general corporate purposes, as well as for the repurchase of shares
of its common stock pursuant to its previously announced Board authorization to
purchase up to 2 million shares in market and private transactions (including
the 1,000,000 shares that the company has agreed to purchase at an aggregate
purchase price of approximately $54.0 million from one of the initial purchasers
in connection with the offering of the notes). The company may also use the net
proceeds for the acquisition of businesses, products, product rights or
technologies and the redemption, repurchase or repayment of other existing
indebtedness.

      This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation or
sale is unlawful.

      The securities will not be registered under the Securities Act, or any
state securities laws, and unless so registered, may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state laws.