Exhibit 99.1

FOR IMMEDIATE RELEASE
Press Contact:	Investor Relations Contact:
Dana Dye	Michael Magaro
The Bateman Group for TIBCO	TIBCO Software Inc.
(415) 846-1001	(650) 846-5747
danadye@bateman-group.com	mmagaro@tibco.com

TIBCO SOFTWARE REPORTS

SECOND QUARTER FINANCIAL RESULTS

PALO ALTO, Calif., June 23, 2005 – TIBCO Software Inc. (Nasdaq:TIBX), a leading business integration and process management software company that enables real-time business, today announced results for its second fiscal quarter ended May 29, 2005. Total revenues for the second quarter were $101.4 million. License revenues for the second quarter were $41.8 million. Net income for the quarter calculated in accordance with accounting principles generally accepted in the United States was $21.7 million or $0.10 per share on a fully diluted basis. This includes a tax benefit of $18.2 million related to the partial release of the valuation allowance previously recorded against the Company’s deferred tax assets.

TIBCO had non-GAAP net income for the second fiscal quarter of $8.6 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $0.04 for the quarter. Non-GAAP results exclude stock-based compensation charges, amortization of acquired intangibles and restructuring charges and assume a non-GAAP effective tax rate of 38%.

“Although our results came in below expectations, we did see significant improvement in the number of deals closed in the quarter and the diversification of those deals. We also remained profitable and generated cash,” said Vivek Ranadivé, Chairman and CEO of TIBCO Software. “The number and diversity of deals this quarter reinforces our view of the growing importance of the integration market. We continue to be focused on capturing the full potential of the market opportunity in front of us.”

Highlights for TIBCO’s Second Fiscal Quarter of 2005

During Q2, TIBCO added 83 new customers and made significant sales to both new and existing customers, including Carrefour, Harrah’s Entertainment, Telecom Italia S.p.A., DBS Bank Ltd., ChevronTexaco, E.&J. Gallo Winery, A.G. Edwards and Hawaiian Telcom.

Conference Call Details

TIBCO Software has scheduled a conference call for 5:00 p.m. Eastern Time today to discuss its fiscal second quarter results. The conference call will be hosted by CCBN and may be accessed over the Internet at http://www.tibco.com or via dial-in at (800) 289-0569 or (913) 981-5542. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available shortly after the live call ends through midnight on July 23, 2005 at www.tibco.com or via dial-in at (888) 203-1112 or (719) 457-0820. The pass code for the replay is 4139722.

About TIBCO Software

TIBCO Software Inc. (NASDAQ:TIBX) is a leading business integration and process management software company that enables real-time business. Real-Time Business is about 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 net 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 the growing importance of the integration software market and TIBCO’s ability to capitalize on the market opportunity within that market. Actual results could differ materially from such forward-looking statements if demand for integration products and services or economic conditions affecting the market for integration products and services fluctuate or if TIBCO is unable to compete successfully with new or existing 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 and Quarterly Report on Form 10-Q for the quarter ended February 27, 2005. 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 May 29, 2005
	GAAP			Adjustments (1)			Non-GAAP As Adjusted
Revenue	$	101,388		$	—		$	101,388
Cost of revenue		31,402			(1,566	)		29,836
Gross profit		69,986			1,566			71,552
Operating expenses:
Research and development		17,269			(3	)		17,266
Sales and marketing		35,089			61			35,150
General and administrative		8,655			—			8,655
Restructuring charges		3,743			(3,743	)		—
Amortization of acquired intangibles		2,315			(2,315	)		—
Total operating expenses		67,071			(6,000	)		61,071
Income from operations		2,915			7,566			10,481
Interest and other income, net		3,316			—			3,316
Income before income taxes		6,231			7,566			13,797
Provision for (benefit from) income taxes (2) (3)		(15,500	)		20,743			5,243
Net income	$	21,731		$	(13,177	)	$	8,554
Net income per share - Basic	$	0.10					$	0.04
Shares used to compute net income per share - Basic		214,551						214,551
Net income per share - Diluted	$	0.10					$	0.04
Shares used to compute net income per share - Diluted		221,943						221,943

(1) The following table summarizes the adjustments presented:

	Three Months ended May 29, 2005
Net income, GAAP	$	21,731
Stock-based compensation		(53	)
Restructuring charges		3,743
Amortization of acquired intangibles		3,876
Provision for income taxes		(20,743	)
Net income, non-GAAP	$	8,554

(2) The GAAP benefit from income taxes includes a tax benefit of $18.2M related to the partial release of the valuation allowance previously recorded against the Company’s deferred tax assets.

(3) 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									Six Months ended
	May 29, 2005			February 27, 2005			May 30, 2004			May 29, 2005			May 30, 2004
	Current			Last Qtr.			Last Year			Current			Last Year
Revenue:
License revenue:
Non-related parties	$	40,082		$	36,650		$	41,261		$	76,732		$	77,720
Related parties		1,668			14,370			4,057			16,038			8,368
Total license revenue		41,750			51,020			45,318			92,770			86,088
Service and maintenance revenue:
Non-related parties		56,456			49,138			31,644			105,594			60,986
Related parties		1,556			2,780			3,317			4,336			6,836
Reimbursable expenses		1,626			1,208			970			2,834			1,740
Total service and maintenance revenue		59,638			53,126			35,931			112,764			69,562
Total revenue		101,388			104,146			81,249			205,534			155,650
Cost of revenue:
Cost of revenue - non-related parties		31,397			27,474			18,410			58,871			34,809
Cost of revenue - related parties		—			92			—			92			—
Stock-based compensation		5			5			9			10			23
Total cost of revenue		31,402			27,571			18,419			58,973			34,832
Gross Profit		69,986			76,575			62,830			146,561			120,818
Operating expenses:
Research and development
R&D - stock-based compensation		3			3			7			6			32
R&D - other expenses		17,266			16,187			13,832			33,453			26,926
Sales and marketing
S&M - stock-based compensation		(61	)		85			20			24			56
S&M - other expenses		35,150			34,121			26,871			69,271			53,471
General and administrative
G&A - stock-based compensation		—			—			9			—			12
G&A - other expenses		8,655			9,800			5,727			18,455			10,530
Restructuring charges		3,743			—			—			3,743			—
Amortization of acquired intangibles		2,315			1,883			483			4,198			982
Total operating expenses		67,071			62,079			46,949			129,150			92,009
Income from operations		2,915			14,496			15,881			17,411			28,809
Interest income		3,598			2,784			2,092			6,382			4,205
Interest expense		(688	)		(682	)		(691	)		(1,370	)		(1,388	)
Other income (expense), net		406			353			(1,243	)		759			(1,044	)
Income before income taxes		6,231			16,951			16,039			23,182			30,582
Provision for (benefit from) income taxes		(15,500	)		6,563			6,441			(8,937	)		12,456
Net income	$	21,731		$	10,388		$	9,598		$	32,119		$	18,126
Net income per share - Basic	$	0.10		$	0.05		$	0.05		$	0.15		$	0.09
Shares used to compute net income per share - Basic		214,551			214,751			198,816			214,651			204,002
Net income per share - Diluted	$	0.10		$	0.04		$	0.05		$	0.14		$	0.08
Shares used to compute net income per share - Diluted		221,943			233,675			212,658			225,733			217,555

TIBCO Software Inc.

Consolidated Balance Sheets

(Unaudited)

(in thousands)

	May 29, 2005		November 30, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	172,170	$	180,849
Short-term investments		305,730		292,686
Accounts receivable, net		93,135		109,002
Accounts receivable from related parties		1,165		2,886
Other current assets		15,502		16,984
Total current assets		587,702		602,407
Property and equipment, net		117,817		118,058
Long-term deferred income tax assets		30,850		—
Other assets		33,008		32,389
Goodwill		272,203		265,137
Acquired intangibles, net		70,977		64,820
Total assets	$	1,112,557	$	1,082,811
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	9,696	$	7,058
Accrued liabilities		74,532		84,429
Accrued restructuring and excess facilities costs		9,514		9,489
Deferred revenue		74,362		60,633
Current portion of long-term debt		1,753		1,708
Total current liabilities		169,857		163,317
Accrued excess facilities costs, less current portion		27,160		29,878
Long-term deferred income tax liabilities		18,275		18,991
Long-term debt, less current portion		49,255		50,143
Total liabilities		264,547		262,329
Total stockholders’ equity		848,010		820,482
Total liabilities and stockholders’ equity	$	1,112,557	$	1,082,811

TIBCO Software Inc.

Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

	Six Months ended
	May 29, 2005			May 30, 2004
Cash flows from operating activities:
Net income	$	32,119		$	18,126
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment		7,521			6,300
Amortization of acquired intangibles		7,392			3,365
Stock-based compensation		40			117
Realized loss on investments, net		20			119
Deferred income taxes		(18,236	)		—
Tax benefits related to acquisitions		—			9,131
Changes in assets and liabilities:
Accounts receivable		18,079			(16,869	)
Accounts receivable from related parties		1,721			216
Other assets		1,460			(1,440	)
Accounts payable		2,686			276
Accrued liabilities, restructuring and excess facilities costs		(11,664	)		7,126
Deferred revenue		10,904			6,544
Net cash provided by operating activities		52,042			33,011
Cash flows from investing activities:
Purchases of short-term investments		(157,789	)		(390,339	)
Sales and maturities of short-term investments		143,915			632,637
Cash used in acquisition		(21,449	)		—
Purchases of other property and equipment, net		(8,469	)		(2,743	)
Purchases of private equity investments		—			(121	)
Restricted cash and short-term investments pledged as security		(580	)		(150,748	)
Net cash provided by (used for) investing activities		(44,372	)		88,686
Cash flows from financing activities:
Proceeds from exercise of stock options		8,953			9,236
Proceeds from employee stock purchase program		2,969			2,423
Payment for purchase of retired shares		(26,024	)		(115,000	)
Principal payments on long term debt		(842	)		(802	)
Net cash used for financing activities		(14,944	)		(104,143	)
Effect of exchange rate changes on cash		(1,405	)		422
Net change in cash and cash equivalents		(8,679	)		17,976
Cash and cash equivalents at beginning of period		180,849			83,278
Cash and cash equivalents at end of period	$	172,170		$	101,254