Cooperative Development Focused on Efficient Content Delivery

SAN JOSE, CA, May 21, 1997--Reuters and Cisco Systems, Inc. today announced that Cisco has purchased a minority equity stake in TIBCO Software, Inc., a Palo Alto-based Reuters subsidiary which develops software for corporate networks and the Internet. As a result of the investment, Edward R. Kozel, Chief Technical Officer of Cisco, will become a member of TIBCO Software's board.

During the next year, Cisco and TIBCO Software will further their ongoing joint development of an open standard for delivering subscriber-sensitive network capabilities. These innovative network services are being developed to help users conserve network bandwidth locally and over the Internet.

TIBCO's publish/subscribe software makes it easier to find or receive subscriber-sensitive networked information, and streamlines bandwidth-intensive applications such as online publications, new media broadcast outlets and videoconferencing. Publish/subscribe software allows a single message to make its way through the "plumbing" of the network to thousands of users or subscribers rather than having to be sent thousands of times to thousands of users.

As the leading supplier of networking for the Internet, Cisco is working jointly with TIBCO Software to develop the new bandwidth conserving capability within Cisco IOS software. The two companies will also continue their previously defined work including advances on the patented publish/subscribe networking. Cisco was an initial publish/subscribe proponent when more than a dozen industry leaders endorsed the new standard in December 1996.

TIBCO Software President and CEO Vivek Ranadive said: "Cisco is the undisputed leader in the deployment of computer networking hardware and software for accessing the Internet or supporting corporate intranets. Cisco's investment commitment in TIBCO Software represents significant support to the goal of making the publish/subscribe technology the de facto middleware standard for the Internet, intranets and extranets."

Edward R. Kozel said: "Because networks often allow users to send one message to communicate with many people, it makes sense to only send as much or as little of any piece of content as possible. For example, you can get the whole newspaper or only the parts you want. Our investment in TIBCO Software will allow Cisco to offer these unique network services that can be combined with security facilities for authentication and encryption."

About TIBCO Software.

TIBCO Software sells distributed systems to the commercial marketplace including manufacturing and telecommunications businesses. TIBCO Software, Inc. markets the widely accepted TIBCO publish/subscribe middleware products. TIBCO Software was formed on January 1, 1997 from TIBCO Inc. (previously named Teknekron Systems Inc.), a leading software company that first became prominent in supplying information management systems in financial trading rooms. TIBCO Inc. was acquired by Reuters in 1994 and has pioneered use of publish/subscribe technologies in finance and other industries. TIBCO Financial Technologies, Inc. now provides such services to the financial sector. Reuters Holdings PLC (NASDAQ: RTRSY) is the world's largest news and financial information services group. More information about Reuters is available at http://www.reuters.com. More information about TIBCO Software is available at http://www.tibco.com.

About Cisco Systems.

Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide leader in networking for the Internet. News and information are available at http://www.cisco.com.

Reuters and the dotted and sphere logos are the house trademarks of Reuters Limited.

Cisco IOS and Cisco Systems are trademarks, and Cisco and the Cisco logo are registered trademarks of Cisco Systems, Inc.