News release

HP and TIBCO Software Announce Multi-year Agreement to Develop Products for Service Providers and Telecoms

PALO ALTO, Calif., April 30, 2001

Hewlett-Packard Company (NYSE:HWP) and TIBCO Software Inc. (Nasdaq:TIBX) today announced an agreement to jointly develop products, solutions and marketing strategies for the service provider and telecommunications markets. Through a three-year collaboration agreement, the companies plan to support high-volume online transactions and to enhance the performance, reliability and advanced middleware needs of global customers.

The alliance will leverage HP OpenView management solutions to integrate TIBCO Software's real-time e-business infrastructure software with the HP Netaction Internet operating environment to help customers implement reliable, secure, scalable and manageable e-business solutions.

TIBCO's integration, B2B and XML solutions enable customers' disparate applications to interact in real time. In addition to the collaboration that will use HP's process management technology and application development toolset, the HP Middleware Division will lead HP's joint development activities using standards such as J2EE and XML technologies that will complement the current TIBCO products, providing a development pathway for future jointly developed products and services.

"This agreement is an important step in HP's software strategy," said Bill Russell, vice president, HP Software Solutions Organization. "TIBCO is a leader in business integration software and this agreement builds on HP and TIBCO's shared vision of the evolution of e-business technologies, our joint development plans and our collaborative market strategies."

"The old model of business was standalone, but today's model is collaborative," said Vivek Ranadivé, chairman and CEO, TIBCO Software. "This agreement shows the commitment of TIBCO and HP to bring industry-leading solutions to the telecommunications marketplace."

In addition to the joint development work, HP Consulting will recommend TIBCO as a preferred integration solution vendor for the service provider and telecommunications markets. HP and TIBCO are currently working together with joint customers, and jointly developed software products are expected to be available to the marketplace within one year.

About TIBCO Software Inc.

TIBCO Software Inc. (Nasdaq:TIBX) is a leading provider of total business integration solutions delivering infrastructure software that enables companies to seamlessly integrate business systems in real time. TIBCO's products enable the real-time distribution of information through patented technology called The Information Bus™, or TIB®. TIBCO technology was first used to digitize Wall Street and has since been adopted in diverse industries including financial services, telecommunications, electronic commerce, transportation, logistics, manufacturing and energy. TIBCO's global customer base includes more than 1,000 customers such as Cisco Systems, Yahoo!, Ariba, NEC, Enron, Sun Microsystems, GE Capital, Philips, AT&T, Pirelli and AOL/Netscape. Headquartered in Palo Alto, Calif., TIBCO can be reached at +1 650 846 1000 or on the Web at www.tibco.com.

About HP

Hewlett-Packard Company -- a leading global provider of computing and imaging solutions and services -- is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and solutions for an Internet infrastructure that's always on.

HP had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

TIBCO, The Information Bus and TIB are trademarks or registered trademarks of TIBCO Software Inc.

Legal Notice Regarding Forward-Looking Statements: This release contains forward-looking statements regarding TIBCO's business, customers, markets served or other factors including the performance of TIBCO's strategic partner, the continuation of this relationship, and the ability of products to meet customers' expectations, needs, or perform as described that may affect future earnings or financial results. TIBCO's actual results could differ in such forward-looking statements. Reasons for why actual results could differ materially include if the relationship does not continue, or the products are unable to successfully meet customers' expectations, needs, or perform as described. Additional information concerning factors that could cause TIBCO's actual results to differ materially from those contained in the forward-looking statements can be found in TIBCO Software'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 Oct. 13, 2000, and Feb. 25, 2000, respectively, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements including limited independent operating history, history of losses, unpredictability of future revenue, dependence on a limited number of customers, relationship with Reuters Group PLC, rapid technological and market changes, risks associated with infrastructure software and volatility of stock price. 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 document.

This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include the ability of HP to retain and motivate key employees; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to the annual report on Form 10-K for the year ended Oct. 31, 2000, and subsequently filed reports. HP does not intend to update these forward-looking statements.