RNS Number:6454Q
Reuters Group PLC
08 October 2003





8 October 2003                                            09/03

 REUTERS AND TIBCO ANNOUNCE NEW COMMERCIAL AGREEMENT AND REPURCHASE COMMITMENT


London and Palo Alto - Reuters Group PLC (RTR.L) and TIBCO Software Inc.
(NASDAQ: TIBX) today announce a new commercial agreement which allows TIBCO to
pursue the financial services market directly and reflects Reuters focus on its
core information business. Reuters intends to reduce its TIBCO stake in an
orderly and efficient manner and TIBCO has agreed to repurchase a portion of its
shares from Reuters if Reuters completes a public offering of TIBCO shares.


Under the terms of the new commercial agreement, TIBCO will have immediate
access to the financial services market, except that TIBCO will not be able to
market or sell Risk Management applications and Market Data Systems for
financial services companies. Reuters will continue to use TIBCO technology
internally and embedded within its products. Reuters will, however, phase out
its role as a general reseller of TIBCO products over the next 18 months.
Reuters and TIBCO will work together with Reuters existing customers to ensure a
smooth migration of maintenance contracts to TIBCO. Until its reseller rights
are phased out in March 2005, Reuters will continue to make quarterly payments
of US$5 million to TIBCO. The quarterly payment amount is subject to reduction
during the phase-out period based on TIBCO's direct revenues from products and
support sold to financial services customers.


These actions by Reuters are consistent with previously announced plans to slim
down and re-focus its software solutions business as part of its Fast Forward
transformation plan. This new agreement also provides TIBCO with an opportunity
to better leverage its core strength to service the finance industry directly.


Consistent with these new arrangements, Reuters intends to reduce its 49%
shareholding in TIBCO. TIBCO has agreed to file a registration statement with
the SEC to facilitate public sales by Reuters of a portion of its stake. Any
sale and its timing will depend on market conditions. If Reuters completes a
single registered public sale of at least US$100 million of TIBCO shares within
12 months of the SEC filing, TIBCO has committed to repurchase an equal number
of shares from Reuters at the same price per share, up to a maximum of US$115
million.


Tom Glocer, CEO of Reuters, said: "In February we announced that we would
refocus our Solutions business as part of our Fast Forward programme. The
agreement we have now reached with TIBCO ensures Reuters continuing exclusive
rights in the markets where we have chosen to remain, specifically Market Data
Systems and Risk Management. It also allows TIBCO early access to the rest of
the financial services market, which benefits all TIBCO shareholders including
us. In addition, TIBCO has agreed to make a portion of its cash available to
assist an orderly sale of Reuters stake."

Vivek Ranadive, CEO of TIBCO, said: "We've had a long and productive
relationship with Reuters and continue to view Reuters as a strategic partner.
With this next step in the relationship, TIBCO will now have the ability to
fully capitalize on our brand strength in financial services. We look forward to
expanding the use of TIBCO technology with both new and existing customers in
financial services."



End



Contacts


Reuters Contacts

Press
Yvonne Diaz                  Tel: +44 20 7542 2615
yvonne.diaz@reuters.com      Mobile: +44 7990 560 615

Investors
Miriam McKay                 Tel: +44 20 7542 7057
miriam.mckay@reuters.com


TIBCO contacts

Press
Bob Berger                   Tel: (650) 846-5713
bberger@tibco.com

Investors                      
Michael Magaro               Tel: (650) 846-5428                          
mmagaro@tibco.com


Notes to editors

Reuters Group PLC (www.about.reuters.com), the global information company,
provides indispensable information tailored for professionals in the financial
services, media and corporate markets. Our information is trusted and drives
decision making across the globe based on our reputation for speed, accuracy and
independence. We have 16,000 staff in 94 countries, including some 2,400
editorial staff in 197 bureaux serving approximately 130 countries, making
Reuters the world's largest international multimedia news agency. In 2002, the
Reuters Group had revenues of #3.6 billion.

This statement may be deemed to include forward-looking statements relating to
Reuters within the meaning of Section 27A of the US Securities Act of 1933 and
Section 21E of the US Securities Exchange Act of 1934. Certain important factors
that could cause actual results to differ materially from those disclosed in
such forward-looking statements are described in Reuters Annual Report and Form
20-F 2002 under the heading 'Risk Factors'. In particular, Reuters ability to
realise value from its TIBCO holdings will necessarily be dependent on whether,
when and by what method Reuters undertakes to dispose of the holdings and market
conditions at such time or times. Copies of the Annual Report and Form 20-F are
available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.

Reuters and the sphere logo are the trademarks of the Reuters group of
companies.


About TIBCO Software

TIBCO Software Inc. (NASDAQ: TIBX) is the leading independent business
integration software company in the world, demonstrated by market share and
analyst reports. In addition, TIBCO is a leading enabler of Real-Time Business,
helping companies become more cost-effective, more agile and more efficient.
TIBCO has delivered the value of Real-Time Business, what TIBCO calls The Power
of Now(R), to over 2,000 customers around the world and in a wide variety of
industries. For more information on TIBCO's proven business integration,
business optimization, and enterprise backbone solutions, TIBCO can be reached
at 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo
Alto, CA.

Legal Notice Regarding Forward-Looking Statements: This release contains
forward-looking statements regarding TIBCO's ability to migrate maintenance
contracts of Reuters' existing customers and to expand its customer base in the
finance industry, Reuters' plans to dispose of its shares of TIBCO common stock,
and benefits to TIBCO's stockholders resulting from TIBCO's access to the
financial services market. Actual results could differ materially from such
forward-looking statements if the transition of Reuters existing maintenance
contracts to TIBCO is not effectively implemented or if TIBCO is unable to
capitalize on the opportunity to sell its products to the financial services
sector. In addition, Reuters may not dispose of its shares of TIBCO stock as
currently contemplated due to market conditions or other reasons not foreseen
today. Additional information concerning factors that could cause actual results
to differ materially from those contained in the forward-looking statements set
forth herein, including our history of losses, the unpredictability of future
revenue, our lack of long-term customer contracts, our exposure to credit risk,
rapid technological and market changes, risks associated with infrastructure
software and the volatility of our stock price are discussed more fully in TIBCO
Software's filings with the Securities and Exchange Commission ("SEC"),
including but not limited to its most recent reports on Forms 10-Q and 10-K
filed with the SEC on July 9, 2003 and February 5, 2003, respectively. Copies of
filings made with the SEC are available through the SEC's electronic data gather
analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no
obligation to update the forward-looking statements included in this document.

TIBCO, the TIBCO logo, The Power of Now, and TIBCO Software are trademarks or
registered trademarks of TIBCO Software Inc. in the United States and/or other
countries. All other product and company names and marks mentioned in this
document

This press release does not constitute an offer of any shares of TIBCO Software
Inc. for sale.








                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGRNKFKNABDKOKK