EXHIBIT 99.1
Press Contact:	Investor Relations Contact:
Bob Berger	Michael Magaro
TIBCO Software Inc.	TIBCO Software Inc.
(415) 846-5713	(650) 846-5747
bberger@tibco.com	mmagaro@tibco.com

TIBCO SOFTWARE REPORTS

THIRD QUARTER FINANCIAL RESULTS

PALO ALTO, Calif., September 16, 2003 – TIBCO Software Inc. (Nasdaq:TIBX), a leading enabler of real-time business and the leading independent business integration software company in the world, as demonstrated by market share and analyst reports, today announced results for its third fiscal quarter ended August 29, 2003. Total revenues for the third quarter were $66.1 million. License revenues for the third quarter were $34.6 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $2.7 million or $0.01 per share.

TIBCO had non-GAAP net income for the third fiscal quarter of $3.5 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $0.02 for the quarter. Non-GAAP results exclude stock-based compensation charges and amortization of acquired intangibles, and assume a non-GAAP effective tax rate of 38%.

“TIBCO continues to show strong operating performance, with growth in revenues during Q3,” said Vivek Ranadive, Chairman and CEO of TIBCO Software. “We are optimistic about our business and focused on continued market share gains.”

Highlights for TIBCO’s Third Fiscal Quarter 2003

• During Q3, we added 59 new customers, ending the quarter with more than 2,100 customers. These include organizations such as A.G. Edwards, Lufthansa Systems, Men’s Wearhouse, Panhandle Eastern Pipeline Company, Tufts Health and WellPoint Health Networks, among others. In addition, we increased and successfully expanded our business relationships with market leaders such as Siemens Business Services, Southwest Airlines, Carlson Travel, Wind Telecomunicazioni, Merial, Devon Canada, Vodafone and Mena eSolutions.

• During the third quarter, TIBCO also formed OEM relationships with Sybase and Salesforce.com and continued to strengthen and expand partnerships with key Systems Integrators and software vendors, such as Accenture, BearingPoint, Deloitte, EDS, HP and NCR Teradata.

Conference Call Details

TIBCO Software has scheduled a conference call for 5:00 p.m. EST today to discuss its fiscal third quarter results. Interested parties may access the conference call over the Internet through CCBN at www.companyboardroom.com. To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast of the call, a replay will be available through TIBCO Software Inc.’s website at www.tibco.com shortly after the live call ends.

About TIBCO Software Inc.

TIBCO Software Inc. (Nasdaq:TIBX) is the leading independent business integration software company in the world, demonstrated by market share and analyst reports. In addition, TIBCO is a leading enabler of Real-Time Business, helping companies become more cost-effective, more agile and more efficient. TIBCO has delivered the value of real-time business, what TIBCO calls The Power of Now^®, to over 2,100 customers around the world and in a wide variety of industries. For more information on TIBCO’s proven business integration, business optimization and enterprise backbone solutions, TIBCO can be reached at 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.

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TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.

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Legal Notice Regarding Forward-Looking Statements: This release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include, without limitation, statements regarding TIBCO’s market share, business, customers, markets served and the strength of TIBCO’s business. These statements are subject to risks and uncertainties that could cause our actual results to differ materially from these anticipated by such forward-looking statements. These risks and uncertainties include, without limitation: possible fluctuations in the demand for TIBCO’s products and services; possible fluctuations in economic conditions affecting the market for TIBCO’s products and services; TIBCO’s ability to compete with existing or new competitors; TIBCO’s ability to successfully strengthen and expand its customer relationships; TIBCO’s ability to expand its market share; and the risk that the strength of TIBCO’s business may not be maintained. Additional information concerning risks and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements can be found in TIBCO’s filings with the Securities and Exchange Commission (“SEC”), including but not limited to its most recent reports on Forms 10-Q and 10-K filed with the SEC on July 9, 2003 and February 5, 2003. Copies of filings made with the SEC are available through the SEC’s electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO

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assumes no obligation to update the forward-looking statements included in this release to reflect events or circumstances occurring after the date of this release.

TIBCO provides non-GAAP net income and non-GAAP net income per share data as additional information for its operating results. These measures are not in accordance with, or an alternative for, accounting principles generally accepted in the United States and may be different from non-GAAP measures used by other companies. TIBCO believes that presentation of non-GAAP net income and non-GAAP net income per share data provides useful information to management and investors regarding certain additional financial and business trends relating to the company’s financial condition and results of operations.

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TIBCO Software Inc.

Non-GAAP Statements of Operations

Impact of Non-GAAP Adjustments on Reported Net Income

(unaudited, in thousands, except per share data)

	Three Months Ended August 29, 2003							Nine Months Ended August 29, 2003
	GAAP		Adjustments*			Non-GAAP		GAAP			Adjustments*			Non-GAAP
Revenue	$	66,114	$	—		$	66,114	$	191,235		$	—		$	191,235
Cost of revenue		15,657		(44	)		15,613		42,907			(164	)		42,743
Gross profit		50,457		44			50,501		148,328			164			148,492
Operating expenses:
Research and development		14,197		(77	)		14,120		48,967			(452	)		48,515
Sales and marketing		28,489		(85	)		28,404		84,575			(223	)		84,352
General and administrative		4,414		(10	)		4,404		15,224			(67	)		15,157
Restructuring charges		—		—			—		1,100			(1,100	)		—
Amortization of acquired intangibles		1,691		(1,691	)		—		5,073			(5,073	)		—
Total operating expenses		48,791		(1,863	)		46,928		154,939			(6,915	)		148,024
Income from operations		1,666		1,907			3,573		(6,611	)		7,079			468
Interest and other income, net		2,138		—			2,138		12,233			—			12,233
Income before income taxes		3,804		1,907			5,711		5,622			7,079			12,701
Provision for income taxes(1)		1,088		1,082			2,170		1,806			3,020			4,826
Net income	$	2,716	$	825		$	3,541	$	3,816		$	4,059		$	7,875
Net income per share—basic	$	0.01				$	0.02	$	0.02					$	0.04
Basic shares outstanding		211,827					211,827		211,088						211,088
Net income per share—diluted	$	0.01				$	0.02	$	0.02					$	0.04
Diluted shares outstanding		219,681					219,681		218,991						218,991

* The following table summarizes the adjustments for the respective periods presented:

	Three Months Ended August 29, 2003			Nine Months Ended August 29, 2003
Net income, GAAP	$	2,716		$	3,816
Stock-based compensation charges		216			906
Amortization of acquired intangibles		1,691			5,073
Restructuring charges		—			1,100
Provision for income taxes (1)		(1,082	)		(3,020	)
Net income, non-GAAP	$	3,541		$	7,875

(1) A projected pro forma effective tax rate for 2003 of 38% has been used to adjust the provision for income taxes for non-GAAP presentation purposes.

TIBCO Software Inc.

Balance Sheets

(unaudited, in thousands)

	August 29, 2003			May 30, 2003			November 30, 2002
ASSETS
Current assets:
Cash and cash equivalents	$	94,887		$	116,346		$	57,229
Short-term investments		506,465			530,192			580,624
Accounts receivable, net		36,533			48,599			59,795
Accounts receivable from related parties		260			3,127			1,483
Other current assets		16,036			15,267			14,462
Total current assets		654,181			713,531			713,593
Property and equipment, net		123,214			48,167			54,827
Other assets		35,055			8,886			8,348
Goodwill		103,006			103,183			101,994
Acquired intangibles, net		9,566			11,257			15,826
Total assets	$	925,022		$	885,024		$	894,588
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable	$	4,068		$	4,348		$	5,242
Amounts due related parties		1,492			122			1,846
Accrued liabilities		28,555			36,418			41,681
Accrued excess facilities costs		44,760			46,757			51,311
Deferred revenue		38,275			47,923			49,781
Current portion of long term debt		1,604			—			—
Total liabilities		118,754			135,568			149,861
Long-term note payable		52,266			—			—
Stockholders’ equity:
Common stock		213			211			210
Additional paid-in capital		919,392			916,064			912,821
Unearned stock-based compensation		(422	)		(632	)		(1,333	)
Accumulated other comprehensive income		873			2,580			2,897
Accumulated deficit		(166,054	)		(168,767	)		(169,868	)
Total stockholders’ equity		754,002			749,456			744,727
Total liabilities and stockholders’ equity	$	925,022		$	885,024		$	894,588

TIBCO Software Inc.

Statements of Operations

(unaudited, in thousands, except per share data)

	Three Months Ended August 30, 2002			Nine Months Ended August 30, 2002			Three Months Ended May 30, 2003			Three Months Ended August 29, 2003		Nine Months Ended August 29, 2003
License Revenue:
Non-related parties	$	30,802		$	105,840		$	27,977		$	32,410	$	85,171
Related parties		3,841			11,441			2,823			2,192		15,205
Total license revenue		34,643			117,281			30,800			34,602		100,376
Service and maintenance revenue:
Non-related parties		24,913			73,602			26,303			26,574		77,786
Related parties		3,014			9,385			3,826			4,189		11,239
Billed expenses		718			1,834			539			749		1,834
Total service and maintenance revenue		28,645			84,821			30,668			31,512		90,859
Total revenue		63,288			202,102			61,468			66,114		191,235
Cost of revenue:
Stock-based compensation		108			429			65			44		164
Other cost of revenue non-related parties		13,887			44,273			13,297			14,134		40,662
Other cost of revenue related parties		51			2,292			199			1,479		2,081
Gross Profit		49,242			155,108			47,907			50,457		148,328
Operating expenses:
Research and development
Stock-based compensation		296			1,083			148			77		452
Other research and development		17,788			52,302			17,119			14,120		48,515
Sales and marketing
Stock-based compensation		431			926			100			85		223
Other sales and marketing		31,773			97,193			29,099			28,404		84,352
General and administrative
Stock-based compensation		237			893			18			10		67
Other general and administrative		5,329			16,343			5,728			4,404		15,157
Acquired in-process research and development		—			2,400			—			—		—
Restructuring charges		19,692			49,336			—			—		1,100
Amortization and acquired intangibles		6,354			18,227			1,691			1,691		5,073
Total operating expenses		81,900			238,703			53,903			48,791		154,939
Loss from operations		(32,658	)		(83,595	)		(5,996	)		1,666		(6,611	)
Interest and other income, net		5,965			18,810			4,092			1,391		10,118
Realized gain (loss) on investments		1,189			(8,611	)		900			747		2,115
Net income (loss) before income taxes		(25,504	)		(73,396	)		(1,004	)		3,804		5,622
Provision (benefit) for income taxes		19,882			24,551			(444	)		1,088		1,806
Net income (loss)	$	(45,386	)	$	(97,947	)	$	(560	)	$	2,716	$	3,816
Net income (loss) per share—basic	$	(0.22	)	$	(0.48	)	$	0.00		$	0.01	$	0.02
Shares used to compute net income per share—basic		208,026			204,600			211,213			211,827		211,088
Net income (loss) per share—diluted	$	(0.22	)	$	(0.48	)	$	(0.00	)	$	0.01	$	0.02
Shares used to compute net income per share—diluted		208,026			204,600			211,213			219,681		218,991