If you are talking about the transactional database and not the Oracle9iAS infrastructure database, then yes it will work. But test it before doing...
All you need to do is create a seperate database and upgrade it and just change the connection details of infra and application server tnsnames.ora file. Test your existing application and then do the upgrade.
HTH
Amar "There is a difference between knowing the path and walking the path."
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