You can use PPL to extract the EXIF information out into a spreadsheet. After the editing is completed, there are EXIF editors that will allow you to "modify" the EXIF of the resulting file. My experience with these programs - one from OPanda and one from hungery (I think) is that the "free" ones are manually intensive.
You might do a search here - some people have used a PERL tool to pull EXIF and replace EXIF information in images. The Linux users here should have the best practical knowledge on how to do this - since the PS series of software products do not run on Linux (or I don't think they do).
Edit = the PERL tool mentioned in Mr. The Guy's post is the one I was thinking of.
Opanda.com - Professional Photography Software (DigitalFilm, PowerExif, IExif, PhotoFilter) :: kiwi's digital experiment ::
The elitiest - formerly known as PDL