Exhibit 99.1

FOR IMMEDIATE RELEASE

Press Contact:	Investor Relations Contact:
Heather Sieberg	Michael Magaro
TIBCO Software Inc.	TIBCO Software Inc.
(650) 846-8463	(650) 846-5747
hsieberg@tibco.com	mmagaro@tibco.com

TIBCO SOFTWARE REPORTS

FIRST QUARTER FINANCIAL RESULTS

PALO ALTO, Calif., March 24, 2005 – 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 first fiscal quarter ended February 27, 2005. Total revenues for the first quarter were $104.1 million. License revenues for the first quarter were $51.0 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $10.4 million or $.04 per share on a fully diluted basis.

TIBCO had non-GAAP net income for the first fiscal quarter of $12.7 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $.05 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%.

“Even though it was a challenging quarter, we continue to demonstrate solid profitability and year-over-year revenue growth of 40%,” said Vivek Ranadivé, Chairman and CEO of TIBCO Software.

Highlights for TIBCO’s First Fiscal Quarter of 2005

During Q1, TIBCO added 97 new customers and made significant sales to both new and existing customers, including Merck & Co., Reuters Limited, Ariba Inc., CIBA Vision, Bonneville Power Administration, Modesto Irrigation District and Société Générale.

Conference Call Details

TIBCO Software has scheduled a conference call for 5:00 p.m. EDT today to discuss its fiscal first 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.

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Use of Non-GAAP Financial Information

TIBCO provides non-GAAP operating income and net income per share data as additional measures of its operating results. TIBCO believes that financial measures of income provide 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 TIBCO’s ability to continue to demonstrate profitability and year-over-year growth. 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 or if TIBCO is unable to successfully compete with existing or new competitors. Additional information regarding potential risks is provided in TIBCO’s filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended November 30, 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 February 27, 2005
	GAAP		Adjustments (1)			Non-GAAP As Adjusted
Revenue	$	104,146	$	—		$	104,146
Cost of revenue		27,571		(1,638	)		25,933
Gross profit		76,575		1,638			78,213
Operating expenses:
Research and development		16,187					16,187
Sales and marketing		34,121					34,121
General and administrative		9,800					9,800
Stock-based compensation		88		(88	)		—
Restructuring charges		—					—
Amortization of intangibles		1,883		(1,883	)		—
Total operating expenses		62,079		(1,971	)		60,108
Income from operations		14,496		3,609			18,105
Interest and other income, net		2,455		—			2,455
Income before income taxes		16,951		3,609			20,560
Provision for income taxes (2)		6,563		1,250			7,813
Net income	$	10,388	$	2,359		$	12,747
Net income per share - Basic	$	0.05				$	0.06
Shares used to compute net income per share - Basic		214,751					214,751
Net income per share - Diluted	$	0.04				$	0.05
Shares used to compute net income per share - Basic		233,675					233,675

⁽¹⁾ The following table summarizes the adjustments for the respective periods presented:

	Three Months ended February 27, 2005
Net income, GAAP	$	10,388
Stock-based compensation		93
Amortization of intangibles		3,516
Provision for income taxes (2)		(1,250	)
Net income, non-GAAP	$	12,747

⁽²⁾ The estimated non-GAAP effective tax rate for 2005 of 38% has been used to adjust the provision for income taxes for non-GAAP purposes.

TIBCO Software Inc.

Consolidated Statements of Operations

(unaudited)

(in thousands, except per share data)

	Three Months ended
	February 27, 2005			November 30, 2004			February 29, 2004
Revenue:
License revenue:
Non-related parties	$	36,650		$	66,336		$	36,459
Related parties		14,370			4,214			4,311
Total license revenue		51,020			70,550			40,770
Service and maintenance revenue:
Non-related parties		49,138			50,599			29,342
Related parties		2,780			2,996			3,519
Billed expenses		1,208			1,514			770
Total service and maintenance revenue		53,126			55,109			33,631
Total revenue		104,146			125,659			74,401
Cost of revenue:
Other cost of revenue non-related parties		27,474			30,696			16,399
Other cost of revenue related parties		92			—			—
Stock-based compensation		5			5			14
Total cost of revenue		27,571			30,701			16,413
Gross Profit		76,575			94,958			57,988
Operating expenses:
Research and development		16,187			17,950			13,094
Sales and marketing		34,121			36,904			26,600
General and administrative		9,800			9,765			4,803
Stock-based compensation (3)		88			99			64
Restructuring charges		—			2,186			—
Amortization of acquired intangibles		1,883			2,053			499
Total operating expenses		62,079			68,957			45,060
Income from operations		14,496			26,001			12,928
Interest income		2,784			2,311			2,113
Interest expenses		(682	)		(693	)		(697	)
Other income (expenses), net		353			(1,087	)		199
Income before income taxes		16,951			26,532			14,543
Provision for income taxes		6,563			8,308			6,015
Net income	$	10,388		$	18,224		$	8,528
Net income per share - Basic	$	0.05		$	0.09		$	0.04
Shares used to compute net income per share - Basic		214,751			212,432			209,188
Net income per share - Diluted	$	0.04		$	0.08		$	0.04
Shares used to compute net income per share - Diluted		233,675			227,628			222,452
(3)      Stock-based compensation in operating expenses:
Research and development	$	3		$	4		$	25
Sales and marketing		85			95			36
General and administrative		—			—			3
	$	88		$	99		$	64

TIBCO Software Inc.

Consolidated Balance Sheets

(unaudited)

(in thousands)

	February 27, 2005			November 30, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	134,124		$	180,849
Short-term investments		368,850			292,686
Accounts receivable, net		82,501			109,002
Accounts receivable from related parties		14,705			2,886
Other current assets		16,657			16,984
Total current assets		616,837			602,407
Property and equipment, net		117,295			118,058
Other assets		32,204			32,389
Goodwill		265,234			265,137
Acquired intangibles, net		61,304			64,820
Total assets	$	1,092,874		$	1,082,811
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	8,119		$	7,058
Accrued liabilities		63,346			84,429
Accrued excess facilities costs		9,220			9,489
Deferred revenue		70,643			60,633
Current portion of long-term debt		1,732			1,708
Total current liabilities		153,060			163,317
Accrued excess facilities costs, less current portion		28,050			29,878
Long-term deferred income tax		18,275			18,991
Long-term debt		49,702			50,143
Total liabilities		249,087			262,329
Stockholders’ equity:
Common stock		216			214
Additional paid-in capital		947,024			933,223
Unearned stock-based compensation		(139	)		(149	)
Accumulated other comprehensive income /(loss)		(194	)		702
Accumulated deficit		(103,120	)		(113,508	)
Total stockholders’ equity		843,787			820,482
Total liabilities and stockholders’ equity	$	1,092,874		$	1,082,811

TIBCO Software Inc.

Consolidated Statements of Cash Flows

(unaudited)

(in thousands)

	Three Months ended
	February 27, 2005			February 29, 2004
Cash flows from operating activities:
Net income	$	10,388		$	8,528
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment		3,554			3,264
Amortization of acquired intangibles		3,516			1,691
Stock-based compensation		93			78
Realized (gain) loss on investments, net		20			(443	)
Change in deferred income tax		(1,313	)		—
Acquisition related tax benefits		—			4,315
Tax benefits from employee stock option plans		4,335			—
Changes in assets and liabilities:
Accounts receivable		26,481			(328	)
Due from related parties, net		(11,819	)		(654	)
Other assets		630			315
Accounts payable		1,064			(210	)
Accrued liabilities and excess facilities costs		(22,803	)		(348	)
Deferred revenue		10,016			3,337
Net cash provided by operating activities		24,162			19,545
Cash flows from investing activities:
Purchases of short-term investments		(103,896	)		(222,010	)
Sales and maturities of short-term investments		26,857			315,448
Purchases of other property and equipment, net		(2,769	)		(1,066	)
Purchases of private equity investments		—			(29	)
Restricted cash and short-term investments pledged as security		—			(748	)
Net cash provided by (used for) investing activities		(79,808	)		91,595
Cash flows from financing activities:
Proceeds from exercise of stock options		8,187			4,385
Proceeds from employee stock purchase program		2,969			2,423
Payment for purchase of retired shares		(1,769	)		(115,000	)
Principal payments on long term debt		(417	)		(399	)
Net cash provided by (used for) financing activities		8,970			(108,591	)
Effect of exchange rate changes on cash		(49	)		363
Net change in cash and cash equivalents		(46,725	)		2,912
Cash and cash equivalents at beginning of period		180,849			83,278
Cash and cash equivalents at end of period	$	134,124		$	86,190