Temenos reaches half way point in 2008 share buyback programme

29 January 2008

GENEVA, Switzerland, 29 January 2008 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announces that it has reached the half way point in its share buyback programme.

On 3 January, Temenos announced that it had received board approval to buy back shares up to a value of CHF69,072,600 (USD60,000,000) during the course of 2008. Since that time, Temenos has acquired 1.39m shares for a total cost of CHF33,000,000 (an average price of CHF23.8) and is, therefore, approximately half way through its share buyback programme for the year.

Commenting on the share buyback programme, Chief Executive Officer Andreas Andreades said, “The buyback programme forms part of our plan to deliver substantial value for shareholders over the coming years. We have made the decision to be quite aggressive with the buyback at the start of the year in order to take advantage of the recent weakness in our share price.”

TEMENOS T24 is a functionally rich, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as Simple Object Access Protocol (SOAP) web services, XML and a true stateless browser front end. 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 is the only system available with no end-of-day batch processing and so can genuinely provide real-time 24/7 non-stop banking.

-ENDS-

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 44 offices worldwide, Temenos serves over 600 customers in more than 120 countries.  

Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe.  

Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. 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

Peter McKenna
Temenos Marketing Director
Tel: +44 (0) 207 423 3842
Email: pmckenna@temenos.com

Evelina Amanatidou
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3592
Email: evelina@metia.com