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

FOURTH QUARTER FINANCIAL RESULTS

PALO ALTO, Calif., December 17, 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 fourth fiscal quarter ended November 30, 2003. Total revenues for the fourth quarter were $73.0 million. License revenues for the fourth quarter were $40.1 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $7.6 million or $.03 per share on a fully diluted basis.

TIBCO had non-GAAP net income for the fourth fiscal quarter of $8.5 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $.04 for the quarter. Non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and technology, and restructuring charges, and assume a non-GAAP effective tax rate of 38%.

“In Q4, we extended our leadership as the industry’s largest independent software provider of integration products for real-time business,” said Vivek Ranadivé. “We are committed to growing our company profitably, and capitalizing on the momentum we have going into 2004.”

Highlights for TIBCO’s Fourth Fiscal Quarter 2003

• During Q4, we added 64 new customers, including companies such as DHS – State Government of Victoria, Medica, Sprague Energy, Toyota Financial Services and Vivo, among others. In addition, we increased and successfully expanded our business relationships with market leaders such as Agilent, British Petroleum, Philips Semiconductors, Cendant Corporation, KPN, Shell and Toshiba.

• During the fourth quarter, TIBCO also formed OEM relationships with Integra SP and Triple Point Technology and continued to strengthen and expand partnerships with key Systems Integrators and software vendors, such as Accenture, Siebel, 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 fourth 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.

###

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.

###

Use of Non-GAAP Financial Information

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.

Legal Notice Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements regarding TIBCO’s continuing extension of its leadership as the industry’s largest independent integration software provider, its commitment to growing the company profitably and its ability to capitalize on the momentum going into 2004. Actual results could differ materially from such forward-

2

looking statements if demand for TIBCO’s products and services or economic conditions affecting the market for TIBCO’s products and services fluctuate, if TIBCO is unable to successfully compete with existing or new competitors, or if TIBCO is unable to successfully execute its plans for future growth. Additional information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements set forth herein, including TIBCO’s history of losses, the unpredictability of future revenue, TIBCO’s lack of long-term customer contracts, rapid technological and market changes, risks associated with infrastructure software and the volatility of TIBCO’s stock prices are discussed more fully 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 October 14, 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 assumes no obligation to update the forward-looking statements included in this release.

3

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 November 30, 2003							Twelve Months Ended November 30, 2003
	GAAP		Adjustments*			Non-GAAP		GAAP		Adjustments*			Non-GAAP
Revenue	$	72,975	$	—		$	72,975	$	264,210	$	—		$	264,210
Cost of revenue		15,811		(37	)		15,774		58,719		(201	)		58,518
Amortization of acquired technology		1,192		(1,192	)		—		4,766		(4,766	)		—
Gross profit		55,972		1,229			57,201		200,725		4,967			205,692
Operating expenses:
Research and development		15,621		(61	)		15,560		64,588		(513	)		64,075
Sales and marketing		25,655		(53	)		25,602		110,230		(276	)		109,954
General and administrative		5,110		(6	)		5,104		20,334		(73	)		20,261
Restructuring charges		—		—			—		1,100		(1,100	)		—
Amortization of acquired intangibles		499		(499	)		—		1,997		(1,997	)		—
Total operating expenses		46,885		(619	)		46,266		198,249		(3,959	)		194,290
Income from operations		9,087		1,848			10,935		2,476		8,926			11,402
Interest and other income, net		2,774		—			2,774		15,007		—			15,007
Income before income taxes		11,861		1,848			13,709		17,483		8,926			26,409
Provision for income taxes (1)		4,237		972			5,209		6,043		3,992			10,035
Net income	$	7,624	$	876		$	8,500	$	11,440	$	4,934		$	16,374
Net income per share—basic	$	0.04				$	0.04	$	0.05				$	0.08
Basic shares outstanding		212,956					212,956		211,555					211,555
Net income per share—diluted	$	0.03				$	0.04	$	0.05				$	0.07
Diluted shares outstanding		220,928					220,928		219,475					219,475

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

	Three Months Ended November30, 2003			Twelve Months Ended November 30, 2003
Net income, GAAP	$	7,624		$	11,440
Stock-based compensation charges		157			1,063
Amortization of acquired intangibles and technology		1,691			6,763
Restructuring charges		—			1,100
Provision for income taxes (1)		(972	)		(3,992	)
Net income, non-GAAP	$	8,500		$	16,374

(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)

	November 30 2003			August 29, 2003			November 30, 2002
ASSETS
Current assets:
Cash and cash equivalents	$	83,278		$	94,887		$	57,229
Short-term investments		521,391			506,465			580,624
Accounts receivable, net		53,659			36,533			59,795
Accounts receivable from related parties		4,454			260			1,483
Other current assets		15,549			16,036			14,462
Total current assets		678,331			654,181			713,593
Property and equipment, net		119,124			123,214			54,827
Other assets		34,923			35,055			8,348
Goodwill		103,006			103,006			101,994
Acquired intangibles, net		7,875			9,566			15,826
Total assets	$	943,259		$	925,022		$	894,588
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable	$	3,692		$	4,068		$	5,242
Amounts due related parties		1,641			1,492			1,846
Accrued liabilities		36,219			28,555			41,681
Accrued excess facilities costs		42,522			44,760			51,311
Deferred revenue		42,914			38,275			49,781
Current portion of long term note payable		1,624			1,604			—
Total liabilities		128,612			118,754			149,861
Long-term note payable		51,853			52,266			—
Stockholders’ equity:
Common stock		213			213			210
Additional paid-in capital		921,040			919,392			912,821
Unearned stock-based compensation		(254	)		(422	)		(1,333	)
Accumulated other comprehensive income		225			873			2,897
Accumulated deficit		(158,430	)		(166,054	)		(169,868	)
Total stockholders’ equity		762,794			754,002			744,727
Total liabilities and stockholders’ equity	$	943,259		$	925,022		$	894,588

TIBCO Software Inc.

Statements of Operations

(unaudited, in thousands, except per share data)

	Three Months Ended November 30, 2002			Twelve Months Ended November 30, 2002			Three Months Ended August 29, 2003		Three Months Ended November 30, 2003		Twelve Months Ended November 30, 2003
License Revenue:
Non-related parties	$	38,324		$	144,165		$	32,410	$	36,222	$	121,393
Related parties		3,508			14,949			2,192		3,911		19,116
Total license revenue		41,832			159,114			34,602		40,133		140,509
Service and maintenance revenue:
Non-related parties		25,934			99,535			26,574		28,246		106,031
Related parties		2,932			12,316			4,189		3,858		15,098
Billed expenses		593			2,428			749		738		2,572
Total service and maintenance revenue		29,459			114,279			31,512		32,842		123,701
Total revenue		71,291			273,393			66,114		72,975		264,210
Cost of revenue:
Stock-based compensation		97			527			44		37		201
Other cost of revenue non-related parties		15,364			62,628			15,326		16,767		61,004
Other cost of revenue related parties		225			2,517			1,479		199		2,280
Gross Profit		55,605			207,721			49,265		55,972		200,725
Operating expenses:
Research and development
Stock-based compensation		235			1,318			77		61		513
Other research and development		18,724			71,026			14,120		15,560		64,075
Sales and marketing
Stock-based compensation		360			1,286			85		53		276
Other sales and marketing		29,274			126,467			28,404		25,602		109,954
General and administrative
Stock-based compensation		26			919			10		6		73
Other general and administrative		5,063			21,406			4,404		5,104		20,261
Acquired in-process research and development		—			2,400			—		—		—
Restructuring charges		—			49,336			—		—		1,100
Amortization of acquired intangibles		5,009			20,245			499		499		1,997
Total operating expenses		58,691			294,403			47,599		46,885		198,249
Loss from operations		(3,086	)		(86,682	)		1,666		9,087		2,476
Interest and other income, net		4,299			23,164			1,391		1,965		12,083
Realized gain (loss) on investments		1,765			(6,900	)		747		809		2,924
Net income (loss) before income taxes		2,978			(70,418	)		3,804		11,861		17,483
Provision (benefit) for income taxes		(389	)		24,162			1,088		4,237		6,043
Net income (loss)	$	3,367		$	(94,580	)	$	2,716	$	7,624	$	11,440
Net income (loss) per share—basic	$	0.02		$	(0.46	)	$	0.01	$	0.04	$	0.05
Shares used to compute net income (loss) per share—basic		209,484			205,821			211,827		212,956		211,555
Net income (loss) per share—diluted	$	0.02		$	(0.46	)	$	0.01	$	0.03	$	0.05
Shares used to compute net income (loss) per share—diluted		217,504			205,821			219,681		220,928		219,475