Private Swiss bank, Bank Leumi, goes live with TEMENOS T24™

13 March 2006

GENEVA, Switzerland - 13 March, 2006, TEMENOS Group (SWX: TEMN), a provider of integrated core banking systems, today announced that Bank Leumi Switzerland, a private banking subsidiary of the Israel-based Leumi Group, has successfully gone live with TEMENOS T24, the company’s modular core banking system. The bank has implemented the system in its Zurich head office and Geneva branch to manage assets of private and institutional clients which amount to over CHF 6 billion. TEMENOS T24 replaces Bank Leumi’s legacy system, Midas from Misys, and enables it to cross-sell through a single customer view and reduce the time to market for new products.

Shouky Oren, general manager of Bank Leumi Switzerland, says: “Previously, we used several different versions of Midas and satellite systems. Rather than invest heavily to upgrade our old systems, we have replaced them entirely with a modern platform with the objective to upgrade our level of service. The new system provides additional functionality in the areas of asset management accounting, controls and management information and will support the business development of the bank. TEMENOS T24 now allows us to align our operations across different sites, and manage our customer relationships more successfully.”

The integrated approach of TEMENOS T24 enables the bank to meet the exact demands of modern, private banking. In addition to the TEMENOS T24 core account, customer and delivery functions, TEMENOS has provided Bank Leumi with its asset management front-end module. Previously, this function was handled outside of the bank’s legacy system. The module offers a single customer view, performance attribution and modelling, which allows the bank’s relationship managers to more effectively manage and interact with the customer base, and provide a more complete view of banking and brokerage activity.

Bank Leumi Switzerland can now increase the efficiency of its reporting in Switzerland and with the head office. Increased automation means that corporate actions are no longer manual processes, most data entry has moved from back office to front office, and the bank will be able to better utilise its manpower.

TEMENOS first implemented TEMENOS T24 for Bank Leumi in its Panama City branch in April 2002 before signing the deal to extend the project in September 2002. When carrying out the implementations in Zurich and Geneva, the project management team successfully overcame a number of challenges typical of large scale core banking projects, such as changes in scope to meet altering business requirements. The system was delivered using IBM servers.

TEMENOS T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on an open architecture, and uses established standards such as HTTP, XML and J2EE. It offers a single client view across the enterprise and can support huge numbers of users with true non-stop resilience. It offers multiple application server support and is the only system available with no end-ofday batch processing and so can genuinely boast of providing real-time 24/7 non-stop banking.

George Koukis, chairman of TEMENOS says: “Private banks require sophisticated technology in order to deliver end-to-end financial solutions, from managing and growing assets to planning retirement and future wealth. The modular structure of TEMENOS T24 allows us to meet these specific needs, as well as delivering equally well-matched systems to our clients in retail and corporate banking. In this sense, TEMENOS T24 is truly a universal banking solution. Bank Leumi will offer a much better service to its clients and be able to manage its operations very efficiently.”

In 2005, TEMENOS achieved US$91 million in Initial Licence Fees (ILF) signings, an increase of 47% compared to 2004. The growth in signings for 2005 is driven by strong performance in EMEA wheresignings grew at close to 40%. TEMENOS continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOS™ COREBANKING.

- ENDS -

About Bank Leumi Switzerland
Bank Leumi Switzerland is a Swiss Bank founded in 1953, specializing in providing international Private Banking services to international customers. It operates through two branches, in Zurich and Geneva. The Bank offers international and domestic investments on an advisory basis and/or discretionary portfolio management, custom-tailored for each individual client to preserve capital requirements and maximize income objectives, all in accordance with individual risk preferences. Bank Leumi Switzerland overviews some CHF 6.5 Billion of clients’ assets.

The Bank is in a marketing and business development phase and recently opened representative offices in Israel and Hungary. The Bank established reputation in the distribution of sophisticated Structured Products and in the market for Collateralized Debt Obligations.

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