Geneva, Switzerland, 16 November 2010 – Temenos (SIX: TEMN), announces today that it is exercising its right to call for an early redemption of the CHF 132,250,000 1.5% Convertible Bonds due 2013, issued by Temenos SA, Luxembourg. The redemption date will be 17 December 2010.

Of the originally issued CHF 132.25 million, bonds in an aggregate principal amount of CHF 132.22 million are currently outstanding. Based on the terms of the bonds, the redemption price will be CHF 5,561.07 per each bond of CHF 5,000 principal amount (being 111.221% of such principal amount).


Each convertible bond of CHF 5,000 principal amount may be converted into 276.85493 shares at any time until 10 December 2010, 16:00 CET. If no request for a conversion is made, repayment will take place on 17 December 2010.

In view of the current share price – CHF 34.05 as at last night’s close of trading - Temenos believes that the convertible bondholders may elect to convert their bonds into shares. Approximately 7,3 million new shares will be issued if all currently outstanding bonds are converted.

In addition, to support the conversion process, the company may, depending on market conditions, elect to repurchase shares of Temenos Group AG. To this effect, Temenos Group AG has obtained approval for a share buyback programme encompassing up to 6 million shares of Temenos Group AG. The share buyback programme period runs from the 16th November 2010 until the 15th November 2011 and, if fully exercised, the programme would equate to approximately 9.5% of the outstanding capital of the company. Temenos retains the right to cease the share buyback programme at any time. Temenos will report on a weekly basis progress of the buyback programme. As well, to view the buy-back notices, which contain additional information, please visit www.temenos.com/Investor-Relations.

Regarding today’s announcement, Temenos CEO Andreas Andreades commented: “We are very happy to be in a position to exercise our right to call the convertible bond as this will reduce our gearing levels and hence provide more leverage capacity for future acquisitions. At the same time, the launch of the buyback programme will allow us in the short term to support the conversion process and as well take advantage of market conditions.”

About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 56 offices worldwide, Temenos serves over 1100 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos is top of the IBS Sales League Table 2009; winner every year since its launch of the Best Core Banking Product in Banking Technology magazine’s Readers’ Choice Awards and ranks 26th in the American Banker top 100 FinTech companies. Temenos customers are proven to be more profitable than their peers: data from The Banker – top 1000 banks shows that Temenos’ customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers.