NET2S BUILDS FIX ENGINE ON TIBCO®

TIBCO® BusinessWorks Improves Business Agility for Securities Firms

London, UK - April 27, 2004 - TIBCO Software Inc. (NASDAQ: TIBX), a leading
enabler of real-time business and the world's largest independent business
integration software company, today announced that Net2S (EuroNext Paris: NTS), a leading solution provider for the Capital Markets industry, has embedded TIBCO® BusinessWorks in its NET2S FIX solution.

The Net2S FIX solution is designed to address complex pre-to-post trade connectivity and processing, and will reduce the cost of managing FIX-based
trading with counter-parties and venues. Leveraging TIBCO BusinessWorks, securities firms can enable seamless integration of their trading and
middle- and back-office systems, greatly improving trade cycle management.

"The value of modern integration technology will be judged on how it can make trading and operations staff, not necessarily IT, more productive," said Tim Lind, senior analyst, the Tower Group. "In this context, the challenge with implementing FIX is not just formatting FIX compliant messages. The real value comes from the management of events between trade execution and settlement by providing business users greater visibility on the workflow steps between an order management system, the back office, and the systems of counterparties. Process management tools seem ideally suited for this environment."

Embedding TIBCO BusinessWorks provides the NET2S FIX solution with a pre-built securities data model, FIX business processes, rules and bi-directional mappings between data standards. The NET2S FIX solution is fully compliant with all FIX versions (including 4.4) and a broad range of venue-specific FIX versions.

"TIBCO BusinessWorks enabled us to focus on developing rich functionality for our FIX solution, including pre-built business processes and data models," said Ali Pichvai, managing director of NET2S Financial Solutions. "TIBCO provides the best solution in terms of performance, scalability, fault-tolerance, security and depth of capabilities for business integration software. As a result, NET2S was able to build a premier solution which has been entrusted by clients in their mission critical trading."

"The financial services industry is now adopting FIX beyond equities and we are excited that Net2S selected TIBCO BusinessWorks as the integration platform for their FIX solution," said Ram Menon, senior vice president of Worldwide Marketing at TIBCO Software Inc. "Our joint customers have an excellent solution for managing FIX-based trading and the ability to extend it as the basis of a straight-through processing solution."

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