Open Text Corporation Announces Normal Course Issuer Bid

Waterloo, ON - 2004-08-31 - Open Text Corporation (Nasdaq: OTEX; TSX: OTC), the world s largest provider of Enterprise Content Management (ECM) software, today announced that it intends to make a normal course issuer bid to repurchase, from time to time over the next 12 months, if considered advisable, up to an aggregate of 2,561,008 common shares, being approximately 5% of its common shares, on the Nasdaq National Market. Open Text has filed a notice of intention to make a normal course issuer bid with applicable Canadian Securities Regulators. Purchases are expected to commence on or about September 7, 2004. As of August 30, 2004, Open Text had 51,220,163 issued and outstanding common shares.

The Board of Directors of Open Text believes that the proposed purchases are in the best interests of Open Text and are a desirable use of corporate funds. All common shares purchased by Open Text pursuant to the notice will be cancelled.

About Open Text

Open Text is the market leader in providing Enterprise Content Management (ECM) solutions that bring together people, processes and information in global organizations. Throughout its history, Open Text has matched its tradition of innovation with a track record of financial strength and growth. Today, the company supports more than 17 million seats across 13,000 deployments in 67 countries and 12 languages worldwide. For more information, go to www.opentext.com.

Trademark

Copyright © 2004 by Open Text Corporation. LIVELINK, LIVELINK MEETINGZONE, and OPEN TEXT are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.

Release Disclaimer

Forward-looking statements in this press release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements relate to, among other things, the future performance of Open Text, the benefits of any acquisition, the strength of the Company s pipeline, the Company s growth and profitability prospects, the potential for growth in the ECM market and its estimated size, the Company s position in the market, and future opportunities therein, the benefits of the Company s products to be realized by customers, the demand for and the extent of deployment of the Company s products. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The risks and uncertainties that may affect forward-looking statements include, among others, risks involved in the completion and integration of acquisitions, the possibility of fluctuations in currency exchange rates, the possibility of technical, logistical or planning issues in connection with deployments, the continuous commitment of the Company's customers, demand for the Company s products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Form 10-K for the year ended June 30, 2003, and Form 10-Q for the quarters ended September 30, 2003, December 31, 2003 and March 31, 2004. 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

Anne Marie K. Schwartz
Director, Investor Relations
Open Text Corporation
+1-617-378-3369
aschwartz@opentext.com

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