Reuters now to receive over $560 M net proceeds and reduce its TIBCO stake to 8.8%

London - Reuters Group PLC (LSE: RTR; NASDAQ: RTRSY) today announced that the underwriters of the TIBCO Software Inc. offering priced on 28 January 2004 have now exercised their previously announced over-allotment option to purchase up to 9 million additional shares at a price of $6.85 per share. Reuters total proceeds from this and the transactions announced previously will be approximately $563 million, after underwriting and transaction fees, with a net profit to Reuters of approximately $280 million. Following these transactions, Reuters will hold approximately 17 million shares, or around 8.8% of TIBCO's issued and outstanding common stock, and therefore will no longer have the
right to a seat on the TIBCO board. The transactions are expected to close today.

A copy of the prospectus relating to the offering can be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, New York 10004.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development