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

THIRD QUARTER FINANCIAL RESULTS

PALO ALTO, Calif., September 22, 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 third fiscal quarter ended August 28, 2005. Total revenues for the third quarter were $105.9 million. License revenues for the third quarter were $44.4 million. Net income for the quarter calculated in accordance with generally accepted accounting principles was $13.8 million or $0.06 per share on a fully diluted basis.

TIBCO had non-GAAP net income for the third fiscal quarter of $10.2 million. TIBCO’s non-GAAP net income per share on a fully diluted basis was $0.05 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%.

“This quarter was a solid improvement over the past few quarters in many areas of our business,” said Vivek Ranadivé, Chairman and CEO of TIBCO Software.

“We continue to deliver on our vision of building out a platform for application and process integration that is an essential element of any company’s information technology infrastructure. I’m confident about our market position, the potential of our technology and the strength of our business as we begin our fourth quarter and prepare ourselves for 2006.”

Highlights for TIBCO’s Third Fiscal Quarter of 2005

During Q3, TIBCO added 65 new customers and made significant sales to both new and existing customers, including Bank of New York Europe, A.G. Edwards, Forzani Group, CBI Distribution and Bank of America.

Conference Call Details

TIBCO Software has scheduled a conference call for 5:00 p.m. Eastern Time today to discuss its third fiscal 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) 289-0730 or (913) 981-5509. Please join the conference call at least 10 minutes early to register. A replay of the conference call will be available through midnight on October 22, 2005 at www.tibco.com or via dial-in at (888) 203-1112 or (719) 457-0820. The pass code for both the call and the replay is 7485012.

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 non-GAAP 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 build out a platform for application and process integration that companies need, the market’s need for an additional build-out of application and process integration, TIBCO’s position in the market, and TIBCO’s potential for technology and the strength of its business in the upcoming year. 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 May 29, 2005. TIBCO assumes no obligation to update the forward-looking statements included in this release.

TIBCO Software Inc.

Non-GAAP Consolidated Statements of Operations

Impact of Non-GAAP Adjustments on Reported Net Income

(Unaudited)

(in thousands, except per share data)

	Three Months ended August 28, 2005
	GAAP			Adjustments (1)			Non-GAAP As Adjusted
Revenue	$	105,945		$	—		$	105,945
Cost of revenue		31,034			(1,438	)		29,596
Gross profit		74,911			1,438			76,349
Operating expenses:
Research and development		18,071			(3	)		18,068
Sales and marketing		34,394			(62	)		34,332
General and administrative		8,813			—			8,813
Restructuring charges		162			(162	)		—
Amortization of acquired intangibles		2,317			(2,317	)		—
Total operating expenses		63,757			(2,544	)		61,213
Income from operations		11,154			3,982			15,136
Interest and other income, net		1,337			—			1,337
Income before income taxes		12,491			3,982			16,473
Provision for (benefit from) income taxes (2)		(1,358	)		7,618			6,260
Net income	$	13,849		$	(3,636	)	$	10,213
Net income per share - Basic	$	0.07					$	0.05
Shares used to compute net income per share - Basic		212,308						212,308
Net income per share - Diluted	$	0.06					$	0.05
Shares used to compute net income per share - Diluted		219,775						219,775

⁽¹⁾ The following table summarizes the adjustments presented:

	Three Months ended August 28, 2005
Net income, GAAP	$	13,849
Stock-based compensation		69
Restructuring charges		162
Amortization of acquired intangibles		3,751
Provision for income taxes		(7,618	)
Net income, non-GAAP	$	10,213

⁽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									Nine Months ended
	August 28, 2005			May 29, 2005			August 29, 2004			August 28, 2005			August 29, 2004
	Current			Last Qtr			Last Year			Current			Last Year
Revenue:
License revenue:
Non-related parties	$	44,365		$	40,082		$	53,697		$	121,096		$	131,417
Related parties		—			1,668			3,751			16,038			12,119
Total license revenue		44,365			41,750			57,448			137,134			143,536
Service and maintenance revenue:
Non-related parties		58,488			56,456			44,279			164,082			105,264
Related parties		1,404			1,556			2,860			5,740			9,696
Reimbursable expenses		1,688			1,626			1,324			4,522			3,065
Total service and maintenance revenue		61,580			59,638			48,463			174,344			118,025
Total revenue		105,945			101,388			105,911			311,478			261,561
Cost of revenue:
Cost of revenue - non-related parties		31,034			31,402			27,664			89,914			62,496
Cost of revenue - related parties		—			—			—			92			—
Total cost of revenue		31,034			31,402			27,664			90,006			62,496
Gross Profit		74,911			69,986			78,247			221,472			199,065
Operating expenses:
Research and development		18,071			17,269			16,189			51,529			43,146
Sales and marketing		34,394			35,089			32,960			103,690			86,489
General and administrative		8,813			8,655			8,740			27,269			19,282
Acquired in-process research & development		—			—			2,200			—			2,200
Restructuring charges		162			3,743			—			3,905			—
Amortization of acquired intangibles		2,317			2,315			2,218			6,515			3,200
Total operating expenses		63,757			67,071			62,307			192,908			154,317
Income from operations		11,154			2,915			15,940			28,564			44,748
Interest income		3,150			3,598			1,920			9,532			6,125
Interest expense		(670	)		(688	)		(690	)		(2,040	)		(2,078	)
Other income (expense), net		(1,143	)		406			(569	)		(382	)		(1,612	)
Income before income taxes		12,491			6,231			16,601			35,674			47,183
Provision for (benefit from) income taxes		(1,358	)		(15,500	)		8,031			(10,294	)		20,487
Net income	$	13,849		$	21,731		$	8,570		$	45,968		$	26,696
Net income per share - Basic	$	0.07		$	0.10		$	0.04		$	0.21		$	0.13
Shares used to compute net income per share - Basic		212,308			214,551			209,442			213,870			205,815
Net income per share - Diluted	$	0.06		$	0.10		$	0.04		$	0.21		$	0.12
Shares used to compute net income per share - Diluted		219,775			221,943			221,413			223,747			218,841

TIBCO Software Inc.

Consolidated Balance Sheets

(Unaudited)

(in thousands)

	August 28, 2005		November 30, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	171,729	$	180,849
Short-term investments		310,733		292,686
Accounts receivable, net		90,020		109,002
Accounts receivable from related parties		1,107		2,886
Other current assets		17,519		16,984
Total current assets		591,108		602,407
Property and equipment, net		117,438		118,058
Long-term deferred income tax assets		32,603		—
Other assets		32,924		32,389
Goodwill		271,009		265,137
Acquired intangibles, net		70,332		64,820
Total assets	$	1,115,414	$	1,082,811
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	9,757	$	7,058
Accrued liabilities		76,895		84,429
Accrued restructuring and excess facilities costs		8,493		9,489
Deferred revenue		70,007		60,633
Current portion of long-term debt		1,775		1,708
Total current liabilities		166,927		163,317
Accrued excess facilities costs, less current portion		25,022		29,878
Long-term deferred income tax liabilities		18,275		18,991
Long-term debt, less current portion		48,803		50,143
Total liabilities		259,027		262,329
Total stockholders’ equity		856,387		820,482
Total liabilities and stockholders’ equity	$	1,115,414	$	1,082,811

TIBCO Software Inc.

Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

	Nine Months ended
	August 28, 2005			August 29, 2004
Cash flows from operating activities:
Net income	$	45,968		$	26,696
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment		11,394			9,665
Amortization of acquired intangibles		11,143			7,860
Stock-based compensation		110			133
Realized loss on investments, net		250			180
Deferred income tax		(20,096	)		(856	)
Tax benefits related to acquisitions		—			9,401
Changes in assets and liabilities:
Accounts receivable		22,109			(14,574	)
Accounts receivable from related parties		1,779			2,243
Other assets		1,781			(2,046	)
Accounts payable		2,748			623
Accrued liabilities, restructuring and excess facilities costs		(13,055	)		11,751
Deferred revenue		6,570			6,128
Net cash provided by operating activities		70,701			57,204
Cash flows from investing activities:
Purchases of short-term investments		(192,260	)		(450,537	)
Sales and maturities of short-term investments		173,502			707,772
Cash used in acquisitions		(24,849	)		(111,462	)
Purchases of property and equipment, net		(11,753	)		(4,915	)
Purchases of private equity investments		(311	)		(293	)
Restricted cash and short-term investments pledged as security		(546	)		(927	)
Net cash provided by (used for) investing activities		(56,217	)		139,638
Cash flows from financing activities:
Proceeds from exercise of stock options		10,302			10,196
Proceeds from employee stock purchase program		4,042			5,047
Repurchase of the Company’s common stock		(33,424	)		(115,000	)
Principal payments on long term debt		(1,273	)		(1,210	)
Net cash used for financing activities		(20,353	)		(100,967	)
Effect of exchange rate changes on cash		(3,251	)		(386	)
Net change in cash and cash equivalents		(9,120	)		95,489
Cash and cash equivalents at beginning of period		180,849			83,278
Cash and cash equivalents at end of period	$	171,729		$	178,767