Open Text Completes its Repurchase of 4,000,000 of its Common Shares at US$20.00 Per Share

Waterloo, Ontario - 2000-01-17 - Open Text Corporation (Nasdaq: OTEX, TSE: OTC), today announced that it has taken up and arranged payment for 4,000,000 of its common shares pursuant to its Revised Offer dated December 14, 1999, under which Open Text offered to purchase, for cancellation, up to 4,000,000 of its common shares for US$20.00 per share.

Under the Revised Offer, 6,386,163 common shares were tendered for repurchase. Since more than 4,000,000 of its common shares were tendered, or deemed to have been tendered, under the Revised Offer, Open Text purchased 4,000,000 of its common shares pro rata based on the number of common shares tendered, or deemed to have been tendered (except that Odd Lot tenders were not subject to proration). The repurchase of common shares under the Revised Offer, including the related fees and expenses, will be funded out of the general funds of the Corporation including funds obtained upon the sale of marketable securities owned by the Corporation.

Open Text acquired 849,300 of its outstanding common shares at prices ranging from US$11.45 to US$25.00 per share under its normal course issuer bid in the period August 19, 1999 to November 5, 1999. Open Text suspended all repurchases under its normal course issuer bid during the term of the Original Offer and Revised Offer, and will not be acquiring any shares pursuant to its normal course issuer bid until at least February 1, 2000.

About Open Text

Open Text has pioneered the development of innovative intranet, extranet, portal and e-community platform solutions. Since creating the first search engine to index the World Wide Web, the Company has remained at the forefront of Internet-based technologies. Today, Open Text solutions allow individuals, teams, organizations, and global trading communities to collaborate on projects, share ideas and accelerate innovation to the fastest possible speed. We call it HyperInnovation and it is already a major factor in the success of leading Global 2000 organizations. Open Text has become the largest supplier of collaborative, Web-based platform solutions for the enterprise, with over 3.5 million users in 31 countries, speaking 12 languages throughout the world. For more information, visit www.opentext.com.

Trademark

Copyright © 1999 by Open Text Corporation. Livelink, 'Effective Solutions. Driven By Vision. Powered By Innovation.', HyperInnovation, and Open Text are trademarks or registered trademarks of Open Text Corporation. This list is not exhaustive. Other product and company names herein may be trademarks of their respective owners.

Release Disclaimer

This news release may contain forward-looking statements relating to the deployment of Livelink by customers, and future performance of Open Text Corporation. Forward-looking statements 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 final prospectus for the company s initial public offering of common stock in January 1996, Form 10-K for the years ended June 30, 1997, June 30, 1998 and June 30, 1999, and Form 10-Q for the quarters ended September 30, 1998, December 31, 1998, March 31, 1999 and September 30, 1999. Forward-looking statements 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