Metavante Corporation, the principal subsidiary of Metavante Technologies, Inc. (NYSE:MV), and Temenos (SWX:TEMN), the global provider of integrated core banking systems, today announced that they have reached a settlement relating to the termination of their agreement to launch an advanced core banking platform based on TEMENOS Core Banking (TCB) in the U.S. market.

The amicable settlement resolves all issues associated with the agreement. As part of the settlement, Metavante received a license to continue its use of the Customer Information Management functionality of TEMENOS Core Banking for the development of next-generation core technology. Temenos continues to retain all rights in the development and investment done in TCB to date as a result of the agreement.

Both organizations have agreed that they will jointly pursue TEMENOS T24 (T24) deals in the U.S. market on a non-exclusive basis and look forward to collaborating on further future opportunities.

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SWX: 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 52 offices worldwide, Temenos serves over 700 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 annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. Temenos is top of the IBS Sales League Table 2008, winner of the Best Core Banking Product category in Banking Technology magazine’s Readers’ Choice Awards 2008, winner of the Financial-i Leaders in Innovation award for the most innovative core banking systems solution 2008 and is listed in the American Banker top 100 FinTech companies.

For more information please visit www.temenos.com.

About Metavante

Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to approximately 8,000 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, outsourcing, and payment network solutions including the NYCE® Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.

Metavante and NYCE are registered trademarks of Metavante Corporation, which is the principal subsidiary of Metavante Technologies, Inc.

Metavante Contacts:
Chip Swearngan, (media)
414-357-3688, chip.swearngan@metavante.com
or
Kirk Larsen, (investors)
414-357-3553, kirk.larsen@metavante.com
or
Temenos Contacts:
Temenos Investor/Analyst queries:
Max Chuard
TEMENOS
Director, M&A & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1482
Email: mchuard@temenos.com
or
Ben Robinson
Associate Director, IR & Business Strategy
Tel: +41 (0) 22 708 1535
M: +41 795 207208/ +44 7803 887929
brobinson@temenos.com
or
Temenos Press queries:
James White
Hudson Sandler
Tel: +44 (0) 20 7710 8910
Email: james.white@hudsonsandler.com