Open Text and ACCESSDATA Introduce Livelink-Based ASP Solution For Financial And Professional Services

Open text further extends the market reach of its collaborative commerce software solution

Waterloo, ON - 2000-10-16 - Open Text Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader of collaborative commerce solutions, today announced that ACCESSDATA Corp. has become a member of Open Text's Affinity ASP program and is offering a Livelink®-based hosted c-commerce system tailored to the specific needs of the financial and professional service industries. Serving as a core architectural component, the Livelink solution is incorporated into ACCESSDATA'S hosted collaborative commerce solution.

ACCESSDATA is a full-service provider of Internet-based consulting and application hosting solutions. Its Livelink-based collaborative ASP offering enables professional and financial services companies to capture, organize, store, distribute, and share information across the entire organization, supporting core business operations and strategic initiatives more effectively.

"Open Text is clearly a leader in the knowledge management and collaborative commerce space," commented James Dolan, President and CEO of ACCESSDATA. "The Livelink ASP e-business solution comprises a significant component of our overall systems offering. Being fully Web-based and extensible, the Livelink ASP solution allows our integrated business tools to be delivered to customers via the Internet."

Further extending Livelink's market reach, ACCESSDATA is offering the ASP system to its financial services clients to manage key organizational information, investment managerial processes, as well as to provide live linkages to activities in portfolio management and timely selection.

"With Livelink ASP as the underpinning, ACCESSDATA'S hosted system addresses many of the problems associated with knowledge gaps, allocation of information, and transfer inefficiencies," said Andrew Pery, Vice President of Global Marketing, Open Text. "Enterprises in the professional and financial services industries will be able to manage critical business knowledge and improve efficiencies, without maintaining any of the IT or administrative costs associated with long-term investments in e-business solutions. We see a great demand for hosted services of Vertical ASPs such as the ACCESSDATA knowledge management solution for the financial and professional services industries."

Now available for commercial release, ACCESSDATA'S knowledge management system spans the core business functions of the financial services marketplace including research, portfolio management, trading, clearing and settlement, administration, risk management, compliance, and client reporting.

About ACCESSDATA

ACCESSDATA Corp. is the leading e-commerce company providing the financial services industry with consulting, implementation, and ASP services under one roof, giving clients the freedom to manage their business, not technology. With firsthand business experience, technology know-how, and a proprietary CognitionSM methodology, ACCESSDATA shortens time to market and minimizes risk for clients, providing Web-based e-Consulting and e-Solutions (ASP) services for investment management, shareholder services, and sales force automation. The company is headquartered in Pittsburgh with offices in Boston, Chicago, and San Francisco. For more info., visit www.accessdc.com or call 1-888-799-1744.

About Livelink

Livelink is a highly scaleable e-business application. Its richly-featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations, and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser.

About Open Text

Open Text has pioneered the development of innovative intranet and extranet 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. Its product family called Livelink enables individuals, teams, organizations, and global trading communities to collaborate on e-business applications that facilitate e-commerce and other transactions among Global 2000 organizations. Open Text has become one of the largest providers of Web based collaboration for e-business applications for e-communities of all types from intranets to extranets and public groups. The Livelink product family has over 4 million users in over 4,000 installations in 31 countries, speaking 12 languages throughout the world. For more information, visit www.opentext.com.

Trademark

Copyright (C) 2000 by Open Text Corporation. Livelink 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, 1998, June 30, 1999, June 30, 2000, 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

Greg Secord
Open Text Corporation
+1-519-888-7111 ext.2408
gsecord@opentext.com