SAP has reacted quickly and angrily to statements made by Oracle CEO Larry Ellison during his company's quarterly results meeting on Tuesday.

Oracle's CEO claimed his company's Fusion middleware was "years ahead" of SAP's rival NetWeaver product, and that "NetWeaver was still relatively new and still incomplete."

He also said, "SAP has delayed the next release of its applications until 2010," and "They'll be two full years behind our Fusion release."

Ellison's statements about SAP's product and acquisition strategy were "a complete misrepresentation," said Bill Wohl, SAP's vice president of product and solutions public relations, in a statement.

Wohl said Oracle's next-generation applications exist "only in PowerPoint" and won't be delivered until 2008 or beyond.

He called Oracle statements about both its own products and SAP's "to be inconsistent and misleading." He said that Oracle made conflicting statements about Fusion's development.

"In January, Oracle claimed they were halfway to Fusion and two weeks ago they said they were not even halfway done - Oracle needs to adopt one version of the truth, and be honest with the market on its actual progress."