BEA live after only 10 months with TEMENOS T24™ Model Bank

11 October 2006

GENEVA, Switzerland – October 11th 2006 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced that The Bank of East Asia (BEA), the largest independent local bank in Hong Kong, has gone live with TEMENOS T24 in its UK branches at London and Birmingham. The system supports some 10,000 customers across the bank’s retail, commercial and corporate divisions. BEA is the first bank to go live with TEMENOS T24 Model Bank for Equation users, a pre-customised version that enables users of the Misys product to quickly replace the system at a low cost.

Following a swift  implementation of just ten months, BEA now has a fully integrated platform to support its future growth.

Joseph Chow, General Manager, BEA, says: “After using Equation for the past 16 years, we have built a lot of BEA specific developments to support our daily operations. We are impressed that the TEMENOS team can quickly adapt their technology to meet our particular needs and help us to implement T24 in such a short time. The system interfaces with our existing infrastructure and we have reduced the cost of ownership by eliminating the need for multiple applications. We can now start to introduce new products quickly and continue to improve process efficiencies.”

BEA had considered a number of providers including Misys, i-flex and Fiserv over a nine month evaluation period, before signing the deal with TEMENOS in November 2005. During the implementation TEMENOS was able to deal with all specific functionality requests additional to those that come as standard in the Model Bank. These enhancements have now been incorporated into TEMENOS Model Bank and will further reduce timeframes for future implementations. The bank installed TEMENOS T24 on IBM’s AIX operating system.

TEMENOS has developed TEMENOS T24 Model Bank, a customised version of its modular system, to enable banks to quickly implement a fully integrated modern core banking application. TEMENOS T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true non-stop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing realtime 24/7 non-stop banking.

Andreas Andreades, CEO, TEMENOS, adds: “As a pilot for our Model Bank for Equation users, this is a significant project for us and one that demonstrates our ability to offer a fast, low-risk and costeffective implementation process. We have delivered in record time in line with our commitment to provide our clients superior time to market advantage and excellent return on their investment. Our approach provides a common sense solution to the technology obsolescence issues that the Equation user base is facing today. Our pre-packaged Model Banks of TEMENOS T24 in retail, universal, private and wholesale banks as well as those for specific user bases are an attractive option for banks wishing to benefit from what we believe is the most technologically advanced product on the market.”

According to the latest International Banking Systems sales league table, published in March 2006, TEMENOS has the largest core banking client base in the world with a stated 600 live sites. The company continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOS™ COREBANKING.

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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