Reuters now to receive over $560 M net proceeds and reduce its TIBCO stake to 8.8%

London – Reuters Group PLC (LSE: RTR; NASDAQ: RTRSY) today announced that the underwriters of the TIBCO Software Inc. (NASDAQ:TIBX) offering priced on 28 January 2004 have now exercised their previously announced over-allotment option to purchase up to 9 million additional shares at a price of $6.85 per share. Reuters total proceeds from this and the transactions announced previously will be approximately $563 million, after underwriting and transaction fees, with a net profit to Reuters of approximately $280 million. Following these transactions, Reuters will hold approximately 17 million shares, or around 8.8% of TIBCO's issued and outstanding common stock, and therefore will no longer have the right to a seat on the TIBCO board. The transactions are expected to close today.

A copy of the prospectus relating to the offering can be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, New York 10004.

Contacts

Yvonne Diaz - UK Press
Tel: +44 20 7542 2615
Mobile: +44 7990 560 615
yvonne.diaz@reuters.com

Kyle Arteaga – US Press
Tel: +1 (646) 223 5222
Mobile: +1 (917) 370 599
kyle.arteaga@reuters.com

Miriam McKay – Investors
Tel: +44 20 7542 7057
miriam.mckay@reuters.com

Notes to editors

This statement may be deemed to include forward-looking statements relating to Reuters within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. In particular, Reuters' ability to realise value in the offering and the repurchase will be subject to customary closing conditions.

Reuters and the sphere logo are the trademarks of the Reuters group of companies.

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.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

This announcement is directed only at (i) persons outside the United Kingdom; or (ii) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (iii) high net worth bodies corporate, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (all such persons together, "relevant persons"). Any investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and persons who receive this announcement who are not relevant persons should not rely on or act upon this announcement.

End