Open Text Breaks Ground on New Headquarters Facility at the University of Waterloo Research and Technology Park

Waterloo, ON - 2004-09-21 - Open Text Corporation, (Nasdaq: OTEX, TSX: OTC), the world s largest provider of Enterprise Content Management (ECM) software, ceremonially breaks ground today at 10:00 a.m. EDT on one of the premiere sites within the University of Waterloo Research and Technology Park. The new, future headquarters of this locally grown global technology company will amalgamate almost 300 employees into 84,000 square feet of customized office space. Open Text is a community leader in joining the other prestigious companies in the University s north campus, companies that have built their success on radical innovation.

Open Text's roots began with the University of Waterloo and today we re cementing those roots with a new home for our headquarters, said Tom Jenkins, Chairman and Chief Executive Officer of Open Text. Our new facility will give us room to grow locally and provide a great foundation as we continue to extend our reach around the world.

Open Text was born out of a University of Waterloo computer indexing and string search project undertaken in 1984 and finalized in 1988. The project led to the creation of the first search engine technology for the Internet in the early 1990s. The company was incorporated in June 1991, and commenced shipment of its product in September 1991. Since operations began, Open Text has experienced phenomenal growth to become one of Canada s largest software companies and the global leader in ECM software, considered among the fastest growing segments in technology. Today, the company has more than 2100 employees around the world and 17 million users of its software at some of the world s largest companies and government agencies. The company s Livelink software gives large organizations a single, online environment for employee collaboration, process automation and information management. Open Text has maintained its corporate headquarters within the Region of Waterloo and has become an integral part of the Canada Technology Triangle s community of business excellence and innovation.

"This is wonderful news and we welcome Open Text to the University of Waterloo Research and Technology Park. It is indeed a splendid development because it demonstrates that we have come full circle -- from the innovative first steps of our UW researchers who created the New Oxford English Dictionary database, to the evolution of Open Text as a successful technology spin-off, and now to locating in our world-class park as a company with global markets. We look forward to many more years of successful collaborations," said David Johnston, President, University of Waterloo.

"We are thrilled that Open Text - a local and international success story - has chosen to build its new headquarters in the University of Waterloo Research and Technology Park," said Ken Seiling, Regional Chair. "This significant investment by Open Text further enhances Waterloo Region's reputation as a worldwide leader in technological innovation and reflects the vitality of this community's high tech sector."

Renderings for the future office space were unveiled to the public by RHL Architects who are responsible for design. Ball Construction Inc. is charged with the development. The Research and Technology Park is a $214 million partnership of the University of Waterloo, the Region of Waterloo, the City of Waterloo, the Province of Ontario, the Government of Canada, Communitech, and Canada s Technology Triangle. It is designed to accommodate 1.2 million square feet of office space and will house thousands of researchers, create new technology jobs, and generate billions in economic activity.

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Ball Construction

Ball Construction has become one of the leading Design Build companies in Ontario. Through the design build process, in the past six years alone, Ball Construction has delivered eight big box retail outlets, fifteen ice rinks and over half a million square feet of industrial and commercial construction.

The University of Waterloo Research and Technology Park

The University of Waterloo is committed to creating a unique community-based Research and Technology Park, whose mandate is to foster radical innovation. The high ambition of the Research Park is supported by a comprehensive partnership among the University, the Government of Canada, Province of Ontario, the Region of Waterloo, City of Waterloo, Communitech, and Canada s Technology Triangle.

RHL Architects

Rieder, Hymmen & Lobban (RHL) Architects is a firm of consulting architects that has provided a wide range of planning and architectural services for over fifty years. The firm specializes in educational facilities but also has extensive experience with recreational, institutional, health care, custom homes, and corporate/commercial projects.

Open Text Corporation

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 on Open Text, go to: www.opentext.com

Trademark

Copyright © 2004 by Open Text Corporation. LIVELINK 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

This news release may contain forward-looking statements relating to the success of any of the Company s strategic initiatives, the Company s growth and profitability prospects, the benefits of the Company s products to be realized by customers, the Company s position in the market and future opportunities therein, the deployment of Livelink and our other products by customers, and future performance of Open Text Corporation. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements in this release are not promises or guarantees and 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 Form 10-K for the year ended June 30, 2002, and Form 10-Q for the quarters ended March 31, 2003, June 30, 2003, September 30, 2003, December 31, 2003 and March 31, 2004. You should not place undue reliance upon any such forward-looking statements, which 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

Carol Stewart
Manager of Business Development
UW Research and Technology Park
(519) 888-4567 ext. 6339
castewar@uwaterloo.ca

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