EASDAQ Selects TIBCO Finance's TIBExchange to Provide New Electronic Trading System for International Growth Stocks.

LONDON--(BUSINESS WIRE)--June 22, 1999--

TIBCO Finance Technology Inc., today announced that EASDAQ (European Association of Securities Dealers Automated Quotation), the pan-European stock market for international growth and technology companies, has selected TIBExchange as its core technology platform for a new generation of exchange trading system. The TIBExchange platform has been chosen to enable a substantial change in EASDAQ's business development strategy.

In a change to its existing business strategy, EASDAQ will enable its member firms to nominate, and then to make a market in any qualifying growth stock, regardless of that company's formal listing location. This new strategy will offer EASDAQ's member firms a cost effective and secure method of trading and settling in the widest possible choice of international growth equities, while also accelerating the growth of volumes and membership on EASDAQ.

TIBExchange will provide the core of the new quote-driven equities system. In addition to providing the exchange software, TIBCO Finance will manage the facilities and run the core system. MCI Worldcom will provide the global communications infrastructure to link EASDAQ's member firms. It is envisaged that the complete new solution will be introduced during the first quarter of 2000.

Today's announcement builds on TIBCO Finance's recent successes in providing its advanced software products to many major exchanges around the world, including The Nasdaq(R) Stock Market, LIFFE, the Colombo Stock Exchange and the Sydney Futures Exchange. The strengths of TIBCO Finance solutions are high levels of flexibility, scalability and resilience, characteristics demanded by the world's securities exchanges. Additionally, TIBCO Finance's experience ine-business and electronic trading is a valuable asset, as EASDAQ moves to develop new, Internet-based delivery channels in the future.

Stanislas Yassukovich, EASDAQ chairman, comments, "We wanted a technology partner that understood our core business as an exchange but was also a true innovator. TIBCO Finance has worked in the financial markets for many years, and its technology is in use by innovators such as Yahoo! and Netscape. It is their mix of proven technical capability, with a real motivation to innovate that makes TIBCO Finance the ideal technology partner."

Simon Yencken, Chief Executive Officer, TIBCO Finance, adds, "EASDAQ has ambitious plans. They aim to grow rapidly by adopting a new and innovative business strategy, and deploying a state-of-the-art technology solution. This is precisely the situation in which we are able to make a big contribution. The flexibility and scalability of our TIBExchange solution is tailor-made for this type of dynamic, fast growth environment."

EASDAQ is the pan-European stock market for international growth and technology companies. Modeled on the successful Nasdaq Stock Market, EASDAQ offers access to a wide institutional and retail investor base. Trading on EASDAQ takes place through EASDAQ's European members, currently situated in the United Kingdom, France, Germany, the Netherlands, Austria, Switzerland, Belgium, Portugal, Italy, Denmark, Finland, Greece, and Luxembourg.

EASDAQ offers seamless trading and settlement across Europe within a highly regulated, liquid market. EASDAQ was born of a unique collaboration between venture capitalists, investment bankers, securities dealers and investment institutions to provide a mechanism for economic development and innovation in Europe.

About TIBCO Finance Technology

TIBCO Finance Technology Inc. enables the world's E-Business. As a global leader in financial solutions and technologies, the company is focused on the following lines of business: electronic trading, retail channels, exchanges, financial application integration, market data and information distribution, and integration and consulting. TIBCO Finance has a worldwide client base of more than 400 blue chip customers. The TIBCO patented publish/subscribe methodology and real-time event-driven E-Business applications enable customers to respond to rapidly changing markets and business events anywhere in the world. Based in Palo Alto, California, TIBCO Finance operates as an independent subsidiary of Reuters Group, PLC (Nasdaq: RTRSY). For more general information about TIBCO Finance's product offerings, visit the company's Web site at www.tibcofinance.com.

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