Open Text Named One of the Fastest Growing Companies in Canada in the Profit 100 Ranking

Waterloo, Ontario - 2000-05-24 - Open Text Corporation (Nasdaq: OTEX, TSE: OTC), the leading provider of collaborative intranet, extranet and e-business applications, today announced that it has been recognized as a 2000 PROFIT 100 company, the list of winners from an annual ranking by PROFIT Magazine of the 100 fastest growing companies in Canada based on the percentage of five-year sales growth, from 1994 to 1999.

Having 5,255 percent sales growth over the past five year period, Open Text ranked 14th overall in the 2000 PROFIT 100. Open Text attributes its high level of sales growth to the steady execution of its strategy to provide scalable, Web-based, e-business solutions to an ever increasing number of the world s largest corporations, which are realizing the competitive advantages of implementing the leading collaborative commerce solution from Open Text.

"Open Text is again honored to be included in the top ranks of the fastest growing companies in Canada, and flattered by such descriptors as innovators extraordinaire," said Tom Jenkins, Chief Executive Officer, Open Text Corporation. "Open Text s listing in 2000 PROFIT 100 is a testament to Open Text s proven track record in sales, and to the success of the Company s long term business strategy of offering the Global 2000 companies solid, reliable, Web-based solutions to assist them in maintaining their success in the global economy. Open Text continues to maintain this strategy with effective results."

For more information about the Profit 100 Canada s Fastest Growing Companies, please visit http://www.profitguide.com/profit100/.

The PROFIT 100 annually recognizes the 100 fastest growing technology companies in Canada, with entries being ranked by five-year sales growth. The ranked list of 100 companies includes public and private companies in the technology industry from such sectors as Business-services, Manufacturers, Software Developers and Consumer Services. To be eligible, companies must have been in existence by January 1994 and have had revenues of at least CND$100,000 in their first year.

On September 15th 1999, Open Text announced it had been recognized as a 1999 Canadian Technology Fast 50 company, an annual ranking by Deliotte & Touche of the 50 fastest growing companies in Canada based on percentage of growth from 1994-1998. Having 2685.58 percent revenue growth over the five year period, Open Text ranked 10th overall in the 1999 Canadian Technology Fast 50.

View the Acceptance Photos

About PROFIT

PROFIT, The Magazine for Canadian Entrepreneurs, was founded in April, 1982, as Canada's first national magazine geared to owner-managers. Originally known as Small Business magazine, the title changed to PROFIT in 1990. Today PROFIT reaches more than 100,000 entrepreneurs across Canada, offering news, strategies, tips, interviews and other resources targeting the information needs of small and medium-sized business the most dynamic sector of the Canadian economy. PROFIT's role is simple: to help readers run their businesses better. The magazine has distinguished itself with its coverage of big-picture issues such as free trade, technology and government decentralization. But PROFIT's specialty lies in its exclusive, hands on coverage of such management topics as sales and marketing, finance, startups, hiring and firing, and using the Internet topics that are generally ignored by other business media, even though they are of pressing concern to all growth-minded entrepreneurs.

About Open Text

Open Text has pioneered the development of innovative intranet, extranet and e-Business applications. Since creating one of the first search engines 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 e-Business applications 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 © 2000 by Open Text Corporation. Livelink, 'Effective Solutions. Driven By Vision. Powered By Innovation.', HyperInnovation, b2bScene.com, and Open Text are trademarks or registered trademarks of Open Text Corporation., Inc. 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, 1998, and June 30, 1999, and Form 10-Q for the quarters ended September 30, 1999, December 31, 1999 and March 31, 2000. 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

Meagan Ross
Public Relations Coordinator
Open Text Corporation
519-888-7111-2368 ext. 2368
mross@opentext.com

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