Major Spanish bank selects TEMENOS T24™ to offer non-stop, real-time global banking

16 November 2004

GENEVA – 16 November, 2004 – TEMENOS Group (SWX:TEMN), a provider of integrated core banking systems, today announced that Banco Sabadell, the fourth-largest bank in Spain with assets of € 44bn, has selected TEMENOS T24™ to support the retail, commercial, treasury and private banking activities for its Miami Branch. The initial licensing agreement was signed on June 30, 2004.

“We conducted an in -depth evaluation of a number of suppliers over an eight-month period and came to the conclusion that TEMENOS, with its strong track record and excellent reference sites, could support our network of branches and provide real-time global processing. “ says Miquel Montes, Technology and Operations General Manager of Banco Sabadell. “Our objective is to centralize our processing for foreign branches, and handle all he multiple local and regulatory requirements in all our branches. TEMENOS has convinced us that by doing so, we can expect to dramatically reduce our operational costs,” he adds.

TEMENOS T24™ will be installed in Sabadell headquarters in Barcelona and rolled out initially in Miami. Banco Sabadell has recently acquired Banco Atlántico, which also has a branch in Miami, thus the implementation will include the integration of that branch’s operations.

Implementation began in July 2004 with Banco Sabadell’s full commitment. A strong inhouse team is in place, with an expected go-live date of less than one year. TEMENOS T24™ will run on a UNIX platform with an Oracle database and will replace legacy systems.

Andreas Andreades, CEO, TEMENOS, says: “We have worked hard to ensure that TEMENOS T24™ has the breadth and depth of functionality to service the most demanding of banking requirements. We are confident that this high-profile project will be monitored by other prospective customers in Spain, and help us increase our market share in the Iberian region. We look forward to supporting Banco Sabadell across all its different markets.”

-ENDS-

About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). For more information please visit www.temenos.com

For more information, contact:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com

Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com

Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com

Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com