IONA ANNOUNCES THIRD QUARTER RESULTS

Waltham, Mass - October 15, 2003 - IONA ®, the world leader in high performance integration solutions (NASDAQ: IONA), today announced third quarter revenues of $17.4 million and a net loss per share of ($0.06) as calculated in accordance with U.S. generally accepted accounting principles (GAAP).

The pro forma net loss per share for the third quarter was ($0.05). Pro forma net loss per share excludes amortization of other non-current assets and stock-based compensation expense representing $0.01 per share.

"I am pleased with our execution in Q3," said Chris Horn, IONA CEO and co-founder. "IONA is providing repeatable solutions to an extensive and loyal customer base. We noted a growing interest in our service-oriented integration solutions among our customers and prospects and with our Artix products, IONA is correctly positioned and ready to capitalize on these trends in the long term."

The company undertook an Artix product family early adopter program that included BellSouth, Sprint and Zurich Insurance. IONA also continued its tradition of driving industry standards, by co-authoring the Web Services - Composite Application Framework specifications, which provide support for complex enterprise Web services applications.

Looking Forward
The company expects revenue for the fourth quarter of 2003 to increase 5-15 percent from Q3 2003 revenue.

"We expect typical patterns of seasonality in the next couple of quarters," said Dan Demmer, CFO at IONA. "Our objective is to position the company for sustainable performance based on our core strengths. This requires looking beyond sequential quarterly fluctuations."

Conference Call
IONA will host a conference call today at 10:00 a.m. Eastern Standard Time to discuss the company's third quarter results. Investors and other interested parties may dial into the call using the toll free number (888) 566-1195 in the United States or (210) 234-5931 for callers outside the United States. The conference call will also be available via webcast on the Investor Relations section of IONA's website at www.iona.com. Following the conclusion of the call, a rebroadcast will be available at IONA's Website or by calling (800) 262-4969 in the U.S. or (402) 220-9710 outside the U.S. until October 22, 2003.

About IONA
For more than a decade, IONA® Technologies (NASDAQ: IONA) has been the world leader in delivering high performance integration solutions for enterprise IT environments. IONA pioneered standards-based integration with its CORBA-based Orbix product family. The Artix? product family, IONA's new generation of integration solutions, extends IONA's commitment to service-oriented industry standards, including Web services.

IONA is committed to technology leadership and architectural focus. With its partners, IONA is the only company that can deliver NOW on the promise of service-oriented integration, making it possible for customers to achieve system longevity and agility at a significantly lower cost.

IONA's customers include Global 2000 companies in telecommunications, financial services, aerospace, and manufacturing, including AT&T, Verizon, BellSouth, Deutsche Telekom, British Telecom, Hong Kong Telecom, NTT, Credit Suisse, Bank of Montreal, Merrill Lynch, Winterthur Insurance, Zurich Insurance and Boeing.

IONA is headquartered in Dublin, Ireland, with U.S. headquarters in Massachusetts and offices worldwide. For additional information about IONA, visit our Web site at http://www.iona.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning plans and objectives of management, expectations regarding future financial performance, profitability, and economic and market conditions. The forward-looking statements made are neither promises nor guarantees and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated or indicated, including risks and uncertainties relating to the Company's cost-reduction efforts; the integration of recent and future acquisitions; the launch and acceptance of IONA's high performance Integration software products; growth in market demand for Web services and integration; IONA's sales model; volume, timing and seasonal patterns of product sales; impact of competitive products and pricing; development, launch and market acceptance of new and improved products; undetected errors in software; and general economic conditions, including their effect on the acquisition of new accounts and the time required to close sales transactions. For a more detailed discussion of the risks and uncertainties, please refer to our most recent Annual Report on Form 20-F and other periodic reports and registration statements filed with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements in this press release, which are current only as of the date when made. You should not expect that these forward-looking statements will be updated or supplemented as a result of changing circumstances or otherwise, and IONA disavows and disclaims any obligation to do so.

IONA, IONA Technologies, the IONA logo, Orbix, High Performance Integration, Artix, Mobile Orchestrator and Making Software Work Together are trademarks or registered trademarks of IONA Technologies PLC and/or its subsidiaries. J2EE is a trademark or registered trademark of Sun Microsystems, Inc. in the United States and other countries. CORBA is a trademark or registered trademark of the Object Management Group, Inc. in the United States and other countries. All other trademarks that may appear herein are the property of their respective owners.

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