Morgan Stanley Capital International (MSCI) to list Temenos on its Small Cap Index Series

19 May 2004

GENEVA, May 19, 2004 -- TEMENOS Group AG (SWX:TEMN), a provider of integrated modular and core banking systems, today announced that MSCI, a provider of global indices, benchmark products and services to investors world wide, has selected TEMENOS for its Small Cap Index Series as of close of May 28, 2004.The decision was made to include TEMENOS in the fund as a result of MSCI’s May 2004 Semi Annual Index Review. TEMENOS will be one of 195 securities added to the MSCI Small Cap Index Series; while 129 securities will be removed.

The MSCI Small Cap Index Series attempts to represent the business activities of small capitalization companies across developed markets. Companies with a full market capitalization between $200 million and $1,500 million are eligible for inclusion. MSCI then selects the most liquid securities relative to their market capitalization, and targets for index inclusion 40% of the full universe within each industry group and country. The market capitalization of index constituents is free float-adjusted.

Max Chuard, director of corporate finance and investor relations, TEMENOS, says: “We’re delighted to be included in MSCI’s portfolio. We are taking steps to broaden our investor base by creating stronger market awareness and enhancing our visibility. This in turn should continue to further improve liquidity in our stock. Our year end 2003 and first quarter 2004 earning figures are very healthy and validate our commitment to our shareholders and clients alike as we continue to gain market share.”

TEMENOS has an established, 10 year pedigree in providing integrated, open, modular and scalable software to the wholesale, retail, private and universal banking sectors.

TEMENOS full earnings announcements can be found at www.temenos.com.The list of changes in constituents for the MSCI Small Cap Index Series as well as an updated methodology book have been posted on MSCI’s web site at www.msci.com/smallcap.

-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