Open Text Confirms Strong Outlook For 2001 at AGM

Toronto, ON - 2000-12-14 - Open Text Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader of collaborative commerce software for e-business, today confirmed the company s strong outlook for 2001 at its Annual General Meeting in Toronto.

The company discussed its market leadership position in the telecommunications industry, announcing that it has reached one million users and secured 16 of the 20 largest telecommunications companies in the world as customers (see the Press Release). The company also discussed strong growth in Livelink® sales to the $3.9 trillion construction industry, securing customers such as Causeway Technologies Inc., Primavera Systems Inc., and Holderbank (see the Press Release).

b2bScene , a division of Open Text, discussed the selection by Exostar to host a secure global exranet for the development of the Exostar aerospace marketplace. This marketplace includes industry leaders such as The Boeing Company, BAE SYSTEMS, Lockheed Martin Corporation and the Raytheon Company, which together control a total combined procurement outlay of $71 billion (see the Press Release).

Shareholders voted and approved the following Board of Directors:

  • Tom Jenkins, Open Text
  • Richard Black, Helix Investments
  • Randy Fowlie, Inscriber Technology
  • Ken Olisa, Interregnum Ventures
  • Stephen J. Sadler, Enghouse Corp.
  • John Shackleton, Open Text
  • Michael Slaunwhite, Manta Corp.
  • Paul Stoyan, Gardiner Roberts


At the meeting, PriceWaterhouseCoopers was reappointed as the company s auditors. The motion to amend the stock option plan was approved, and the company will establish an employee share option pool of up to 1 million shares subject to repurchases on the open market under the current Normal Course Issuer Bid. The WebCast will be available for replay at www.opentext.com/intvestor/. A teleconference is also available at the following replay numbers until Tuesday, December 18, 2000 at 12:00pm EST:

Toronto: 416-695-5800
North America: 1-800-408-3053
Passcode: 628144

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 provides collaborative commerce solutions for e-business that enable users to extend and build CRM, SCM and ERP applications and allow them to work together within and across organizations. 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. Its solution 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. 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, and June 30, 2000, and Form 10-Q for the quarter ended September 30, 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.