Exhibit 99.1

FOR IMMEDIATE RELEASE
Press Contact:	Investor Relations Contact:
Robin Stoecker	Michael Magaro
TIBCO Software Inc.	TIBCO Software Inc.
(650) 846-5044	(650) 846-5747
rstoecker@tibco.com	mmagaro@tibco.com

TIBCO SOFTWARE REPORTS

RECORD FOURTH QUARTER AND ANNUAL

FINANCIAL RESULTS

PALO ALTO, Calif., December 22, 2004 – TIBCO Software Inc. (Nasdaq:TIBX), a leading enabler of real-time business and the world’s largest independent business integration software company, today announced results for its fourth fiscal quarter and year ended November 30, 2004. Total revenues for the fourth quarter were $125.7 million. License revenues for the fourth quarter were $70.6 million. Fiscal year 2004 revenues were $387.2 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $18.2 million or $.08 per share on a fully diluted basis.

TIBCO had non-GAAP net income for the fourth fiscal quarter of $20.5 million and $56.1 million for the year. TIBCO’s non-GAAP net income per share on a fully diluted basis was $.09 for the quarter and $.25 for the year. Fourth quarter and annual non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles, impairment of equity investments, restructuring charges and expensing of acquired in-process research and development, and assume a non-GAAP effective tax rate of 38%.

“During 2004, we capitalized on the beginning of a secular growth opportunity in the Integration market, increasing our market share of those segments in which we offer products and on the hard work and dedication of the people who work at TIBCO,” said Vivek Ranadivé, Chairman and CEO of TIBCO Software. “The growth we are experiencing is further validation that our integration platform has gone from a ‘nice to have’ to a ‘must have’ for companies operating in the ever more competitive global marketplace.”

Highlights for TIBCO’s Fourth Fiscal Quarter 2004

During Q4, TIBCO added over 100 new customers and made significant sales to both new and existing customers, including Associated Newspapers Ltd., Lockheed Martin M&DS, Beckman Coulter, Inc., Lehman Brothers Holdings, Procter & Gamble, City of Calgary, American Century Investments, BNP Paribas, Vodafone UK and Telecom Italia.

Conference Call Details

TIBCO Software has scheduled a conference call for 5:00 p.m. EDT today to discuss its fiscal fourth quarter results. The conference call will be hosted by CCBN and may be accessed over the Internet at www.tibco.com. To listen to the live call, please go to the website 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

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 2,000 customers around the world and in a wide variety of industries. For more information on TIBCO’s proven enterprise backbone, business integration, business process management, and business optimization solutions, TIBCO can be reached at +1 650-846-1000 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.

Use of Non-GAAP Financial Information

TIBCO provides non-GAAP net income and net income per share data as additional measures of its operating results. TIBCO believes that presentation of non-GAAP net income and 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. For example, the non-GAAP results are an indication of TIBCO’s baseline performance before gains, losses or other charges that are considered by management to be outside the company’s core business operational results. In addition, these non-GAAP results are among the primary indicators management uses as a basis for planning for and forecasting of future periods. 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.

Legal Notice Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including, without limitation, statements regarding the growth of the Integration market, TIBCO’s increased market share and the demand for TIBCO’s integration platform. Actual results could differ materially from such forward-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 cannot successfully execute its growth plans. Additional information regarding potential risks is provided in TIBCO’s filings with the SEC, including its most recent Annual Report on Form 10-K and its Form 10-Q for the quarter ended August 29, 2004. TIBCO assumes no obligation to update the forward-looking statements included in this release.

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, 2004							Year ended November 30, 2004
	GAAP		Adjustments*			Non-GAAP As Adjusted		GAAP		Adjustments*			Non-GAAP As Adjusted
Revenue	$	125,660	$	—		$	125,660	$	387,220	$	—		$	387,220
Cost of revenue		30,702		(2,048	)		28,654		93,197		(6,737	)		86,460
Gross profit		94,958		2,048			97,006		294,023		6,737			300,760
Operating expenses:
Research and development		17,954		(4	)		17,950		61,100		(40	)		61,060
Sales and marketing		36,997		(95	)		36,902		123,486		(156	)		123,330
General and administrative		9,766		—			9,766		29,048		(13	)		29,035
Acquired in-process research and development		—		—			—		2,200		(2,200	)		—
Restructuring charges		2,186		(2,186	)		—		2,186		(2,186	)		—
Amortization of intangibles		2,053		(2,053	)		—		5,253		(5,253	)		—
Total operating expenses		68,956		(4,338	)		64,618		223,273		(9,848	)		213,425
Income from operations		26,002		6,386			32,388		70,750		16,585			87,335
Interest and other income, net		529		112			641		2,965		112			3,077
Income before taxes		26,531		6,498			33,029		73,715		16,697			90,412
Provision for income taxes (1)		8,307		4,244			12,551		28,795		5,562			34,357
Net income	$	18,224	$	2,254		$	20,478	$	44,920	$	11,135		$	56,055
Net income per share - basic	$	0.09				$	0.10	$	0.22				$	0.27
Shares used to compute net income per share - Basic		212,432					212,432		207,506					207,506
Net income per share - diluted	$	0.08				$	0.09	$	0.20				$	0.25
Shares used to compute net income per share - Diluted		227,628					227,628		220,927					220,927

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

	Three Months ended November 30, 2004			Year ended November 30, 2004
Net income, GAAP	$	18,224		$	44,920
Stock-based compensation		104			243
Amortization of intangibles		4,096			11,956
Acquired in-process research and development		—			2,200
Restructuring charge		2,186			2,186
Impairment of equity investment		112			112
Provision for income taxes (1)		(4,244	)		(5,562	)
Net income, non-GAAP	$	20,478		$	56,055

(1) The projected pro forma effective tax rate for 2004 of 38% has been used to adjust the provision for income taxes for non-GAAP purposes.

TIBCO Software Inc.

Balance Sheets

(unaudited, in thousands)

	November 30, 2004		November 30, 2003
ASSETS
Current assets:
Cash and cash equivalents	180,849		$	83,278
Short-term investments	292,686			521,391
Accounts receivable, net	109,672			53,659
Accounts receivable from related parties	2,216			4,454
Other current assets	16,984			15,549
Total current assets	602,407			678,331
Property and equipment, net	118,058			119,124
Other assets	32,389			34,923
Goodwill	263,393			103,006
Acquired intangibles, net	64,820			7,875
Total assets	1,081,067		$	943,259
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	7,058		$	3,692
Amounts due to related parties	—			1,641
Accrued liabilities	82,685			36,219
Accrued excess facilities costs	9,489			8,608
Deferred revenue	60,633			42,914
Current portion of long-term note payable	1,708			1,624
Total current liabilities	161,573			94,698
Long-term accrued excess facilities costs	29,878			33,914
Long-term deferred income tax	18,991			—
Long-term note payable	50,143			51,853
Total long-term liabilities	99,012			85,767
Stockholders’ equity:
Common stock	214			213
Additional paid-in capital	934,268			921,038
Unearned stock-based compensation	(119	)		(254	)
Accumulated other comprehensive income (loss)	(373	)		225
Accumulated deficit	(113,508	)		(158,428	)
Total stockholders’ equity	820,482			762,794
Total liabilities and stockholders’ equity	1,081,067		$	943,259

TIBCO Software Inc.

Statements of Operations

(unaudited, in thousands, except per share data)

	Three Months Ended November 30, 2003		Year Ended November 30, 2003		Three Months Ended August 29, 2004			Three Months Ended November 30, 2004			Year Ended November 30, 2004
License revenue:
Non-related parties	$	36,222	$	121,393	$	53,697		$	66,337		$	197,753
Related parties		3,911		19,116		3,751			4,213			16,333
Total license revenue		40,133		140,509		57,448			70,550			214,086
Service and maintenance revenue:
Non-related parties		28,246		106,031		44,279			50,600			155,864
Related parties		3,858		15,098		2,860			2,996			12,692
Billed expenses		738		2,572		1,324			1,514			4,578
Total service and maintenance revenue		32,842		123,701		48,463			55,110			173,134
Total revenue		72,975		264,210		105,911			125,660			387,220
Cost of revenue:
Stock-based compensation		37		201		6			5			34
Other cost of revenue non-related parties		16,767		61,004		27,658			30,697			93,163
Other cost of revenue related parties		199		2,280		—			—			—
Gross Profit		55,972		200,725		78,247			94,958			294,023
Operating expenses:
Research and development
Stock-based compensation		61		513		5			4			40
Other research and development		15,560		64,075		16,184			17,950			61,060
Sales and marketing
Stock-based compensation		53		276		5			95			156
Other sales and marketing		25,602		109,954		32,955			36,902			123,330
General and administrative
Stock-based compensation		6		73		—			—			13
Other general and administrative		5,104		20,261		8,740			9,766			29,035
Acquired in-process-research and development		—		—		2,200			—			2,200
Restructuring charges		—		1,100		—			2,186			2,186
Amortization of acquired intangibles		499		1,997		2,218			2,053			5,253
Total operating expenses		46,885		198,249		62,307			68,956			223,273
Income from operations		9,087		2,476		15,940			26,002			70,750
Interest and other income, net		1,965		12,083		721			752			3,367
Realized gain (loss) on investments		809		2,924		(60	)		(223	)		(402	)
Income before income taxes		11,861		17,483		16,601			26,531			73,715
Provision for income taxes		4,237		6,043		8,031			8,307			28,795
Net income	$	7,624	$	11,440	$	8,570		$	18,224		$	44,920
Net income per share - basic	$	0.04	$	0.05	$	0.04		$	0.09		$	0.22
Shares used to compute net income per share - basic		212,956		211,603		209,442			212,432			207,506
Net income per share - diluted	$	0.03	$	0.05	$	0.04		$	0.08		$	0.20
Shares used to compute net income per share - diluted		224,047		221,971		221,413			227,628			220,927