Open Text Corporation Posts Record Results For Third-Quarter Fiscal 1999

Thirteenth Consecutive Quarter Of Record Revenue, Record Net Income Achieved

Waterloo, ON - 1999-04-21 - Open Text Corporation(NASDAQ:OTEX; TSE:OTC) ), the worldwide leader of Web-basedcollaborative knowledge management application software, todayannounced record revenues and net income for its third quarter endedMarch 31, 19991. Net income for the third quarter was US$4.7 million, which is $0.20 pershare (fully diluted) compared to a net income of $1.0 million or $0.05 pershare, for the year-earlier quarter. Cash increased by $5.1 million to $38.2million after spending $2.7 million related to one time Lava integrationcosts.

For the thirteenth consecutive quarter, Open Text reported the highestquarterly total revenues in the company's history. Total revenues for thequarter were US$25.0 million, up 112% from the $11.7 million reported forthe year-earlier period.

License revenues for the quarter ended March 31, 1999 were $14.3 million,up 87% compared to $7.6 million for the third quarter of fiscal 1998. "Our strong performance is a clear indication of our continued marketleadership and steady execution of our strategy to provide scalable,Web-based enterprise-wide knowledge management solutions to theworld's largest corporations," said Tom Jenkins, Chief Executive Officer,Open Text Corporation. "We are pleased to report strong growth in ourquarterly net income and license revenues. In particular, license revenuesfor our core product, Livelink® grew 84% on a year over year basis."

"Our recently announced corporate portal strategy and launch ofMyLivelink , the first collaborative corporate portal to aggregate bothinternal and external information using a single, personalized interface,further reinforces our commitment to provide our customers with solutionsthat generate immediate return on investment, improve time-to-market andultimately accelerate innovation," added Jenkins.

New accounts contributing to Open Text's third-quarter revenues includedChase Manhattan, Halifax Insurance and CIBC Insurance. Existingaccounts contributing to revenues included Siemens, U.S. Air Force,Nortel Networks, Shell, Hewlett Packard and many others.

Financial Highlights (in US$ thousands, except per share data)

Q3 1999 Q3 1998 % change License revenue $14,272 $7,643 87% Service revenue 10,771 4,149 160% Total revenue 25,043 11,792 112% Net Income 4,699 1,018 362% EPS (basic) $0.23 $0.06 EPS (fully diluted) $0.20 $0.05

At March 31, 1999, accounts receivable was $27.7 million down from $28.5million at December 31, 1998. As a result, Days Sales Outstanding (DSO)was reduced from 126 days to 99 days during the quarter.

To review the Statements of Operations and Balance Sheet, please seeFinancials. To review information about investing in Open Text Corporation, please seeour Investor Information.

1 Reported under U.S. Generally Accepted Accounting Principles (GAAP).

Release Disclaimer

Livelink is a registered trademark and Open Text, HyperInnovation, Toward HyperInnovation and MyLivelink are trademarks of Open Text Corporation. All other trademarks are the property of their respective companies. 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 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 Form 10-K for the year ended June 30, 1998, and Form 10-Q for the quarters ended September 30, 1997, December 31, 1997, March 31, 1998 and September 30, 1998 and December 31, 1998. 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

Susan Proulx
Executive Assistant
OTC
(519)888-7111 ext. 2278
sproulx@opentext.com

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