Open Text Ranks High in Business 2.0's List of the 100 Fastest Growing Technology Companies

Rankings Based on Financial Performance

Chicago, IL - 2004-06-01 - Open Text Corporation (Nasdaq: OTEX, TSX: OTC), the world s largest provider of Enterprise Content Management (ECM) software, today announced it ranked 11th in Business 2.0 magazine s list of the 100 fastest growing technology companies, called the 2004 B2 100. The ranking was Open Text s highest, a significant move up from 49th when Open Text last placed in the B2 100.

The list, which is featured in the magazine s June issue, is created from a pool of more than 2,000 publicly traded companies. The selection is narrowed to those with at least $50 million in revenues, and positive cash flow from operations in the most recently reported 12 months. Companies are then ranked using a rigorous combination of financial criteria: Growth in revenue, profit and operating cash flow during the past three years, and the 12-month stock market return.

"We offer this year s collection of B2 100 companies as a primer on shifting trends and inventive strategies," said Josh Quittner, editor of Business 2.0, in a news release announcing this year s ranking.

The B2 100 is based on a comprehensive analysis of financial data. We re honored to place so highly, said Alan Hoverd, Chief Financial Officer of Open Text. Customer demand for the ECM software solutions we provide continues to grow and that has been driving our strong performance over the last year.

For more information on the 2004 B2 100, go to the Business 2.0 website: www.business2.com.

About Business 2.0

Business 2.0, a magazine about business, technology and innovation, is published out of the FORTUNE Group at Time Inc., a Time Warner company. To learn more, visit www.business2.com

About Open Text

Open Text is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Throughout its history, Open Text has matched its tradition of innovation with a track record of financial strength and growth. Today, the company supports more than 17 million seats across 13,000 deployments in 31 countries and 12 languages worldwide. For more information, go to: www.opentext.com

Trademark

Copyright © 2004 by Open Text Corporation. LIVELINK and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

Release Disclaimer

This news release may contain forward-looking statements relating to the success of any of the Company s strategic initiatives, the Company s growth and profitability prospects, the benefits of the Company s products to be realized by customers, the Company s position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, among others, risks involved in the completion and integration of acquisitions, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Form 10-K for the year ended June 30, 2002, and Form 10-Q for the quarters ended March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003. You should not place undue reliance upon any such forward-looking statements, which are based on management's beliefs and opinions at the time the statements are made, and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

For more information, please contact

Margaret E. Dobbin
Director, Industry Analyst Relations
Open Text Corporation
+1-519-888-7111 ext.2410
mdobbin@opentext.com

Richard Maganini
Open Text Corporation
1-847-961-0662
rmaganin@opentext.com