TEMENOS appoints new European regional director

GENEVA, Switzerland – 6 March, 2006 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced the appointment of Costa Christodoulou as regional director for northern Europe and Commonwealth of Independent States (CIS). The appointment reinforces TEMENOS’ strategy to further strengthen its position in EMEA by dividing it into two regions and focusing on these active and developing markets.

In this newly created role, Christodoulou, 47, will be responsible for developing the business across the UK, Ireland, Channel Isles, Netherlands, Scandinavia, Baltic and CIS territories. The second zone remains headed by Jean-Michel Hilsenkopf and includes France, Germany, Belgium, central and eastern Europe, southern Europe, the Middle East and Africa. Christodoulou will be reporting to Mark Cullinane, chief operating officer, and will be based in the company’s London office.

Christodoulou comments: “TEMENOS is an established global player with great market success and continuing growth. My aim is to place more emphasis on our customers’ requirements in northern Europe and CIS and achieve the highest levels of customer satisfaction by developing the company’s services and support offerings. I look forward to helping TEMENOS expand its profitable business in these regions.”

Christodoulou has over 20 years of experience in financial services, including several senior executive positions within major software houses. Prior to TEMENOS, Christodoulou was the CEO of City Networks where he played the leading role in growing the company’s new business by doubling licence fee revenues in two years and significantly increasing customer satisfaction ratings. He was also director of European operations with ACT Financial Systems, regional director, EMEA with ALLTEL Information Services and sales and service director with Unisys, international banking services centre.

Andreas Andreades, CEO, TEMENOS, says: “This is an exciting growth period for TEMENOS. The strengthening of the company’s organisation with key talent has been at the top of my agenda for the past two years. And I can now confidently say that TEMENOS has the strongest organisation in our industry to lead us into the next phase of the company’s development and future growth. The northern Europe and CIS territories are extremely diverse including mature markets such as the UK and Scandinavia and emerging markets in the Baltic and CIS geographies. Costa, with his vast experience and his ability to deliver results will contribute immensely in this region which accounts for about 25 per cent of our revenues.”

In 2005, TEMENOS achieved US$91 million in Initial Licence Fees (ILF) signings, an increase of 47% compared to 2004. The growth in signings for 2005 is driven by strong performance in EMEA where signings grew at close to 40%. TEMENOS continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOSâ„¢ COREBANKING.

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