Kenya Commercial Bank selects TEMENOS T24™ to support 131 branches

GENEVA, Switzerland – 14 May, 2007 - Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Kenya Commercial Bank (KCB) has selected T24 in an overhaul of its systems. The bank will install T24, the company’s modular core banking system, in 131 branches across Kenya, Tanzania and Sudan to support some 675,000 accounts. T24 will enable KCB, the largest bank in East and Central Africa, to improve its operational costs-to-income ratio and increase its competitive edge. The system will support the bank’s retail, corporate, wealth management and Islamic banking operations.

Mr Martin Oduor-Otieno, CEO, KCB, says: “This is the culmination of a long and exhaustive search for a state-of-the-art system. T24 will enable us to offer a faster, more effective service to our customers and deliver new technology-driven products such as Internet banking. It will also provide the technology to support our planned expansion into territories such as Uganda and Rwanda, helping us to grow customer accounts to over two million in the next five years.”

KCB conducted a rigorous evaluation of 26 providers and engaged external  consultants, PricewaterhouseCoopers, to help with the selection process. After considering a shortlist that included i-flex, Misys and Tata Consultancy Services, the bank signed the deal with Temenos in March 2007. T24 will replace the TC3 core banking system from CMC, which the bank has used for over 10 years, along with a number of inferior ancillary systems.

The bank will deploy the T24 Model Bank, which includes pre-configured products and processes, to achieve a reduced implementation time of 12 months for its retail division. T24 Model Bank and its associated methodology can achieve a 50% lower implementation timeframe, minimise customisation, reduce implementation costs and bring tighter control over a project scope and deliverables.

Temenos will install T24, including treasury, retail, corporate and wealth management functionality using an Oracle database. The company will also install ARC, its front office software product for effective customer retention and cross-channel selling, and Islamic banking components to support Shariah-compliant services.

T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open system principles, 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 nonstop 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: “KCB is a major client for us and to enable us to support them effectively we are establishing a regional office in Nairobi. Eastern and Central Africa is experiencing a resurgence of core banking replacement opportunities and our new office is also evidence of our commitment to this important market.”

Temenos has an international client-base of over 580 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, 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