Celent Names Open Text a Banking Market Leader of Document Handling Solutions

New Report from Independent Research and Advisory Firm to Financial Institutions Analyzes Document Management Issues For Banks and Classifies Leading Solution Vendors

Chicago, Illinois - 2006-12-12 - Open Text Corporation (NASDAQ: OTEX, TSX: OTC), the largest independent provider of Enterprise Content Management (ECM) software and solutions, today announced that Celent LLC, an independent research and advisory firm that provides technology and business strategy advice to the financial services industry, has categorized Open Text as a market leader of document handling solutions in the firm s report: Document Management in Banking: Overview and Solution Spectrum.

Celent provides unbiased insight into industry trends, competitors in the market, and market sizes. In researching the report, Celent conducted interviews with over thirty document management vendors that serve clients in financial institutions based in North America and around the world. The report analyzes key issues related to document-intensive business processes in banking and provides an overview of the technology options available to financial institutions across different areas of document management.

According to Celent, document handling solutions enable the transformation of a range of financial services business processes such as customer information retrieval or account opening, while also addressing the input and output handling requirements fundamental to any document management solution. Implemented solutions cut across various lines of business, including retail banking, corporate banking, lending, wealth management, and investment banking.

Documents drive business and represent one of the key sources of information within a financial institution. For this reason, document management is integral to an effective enterprise content management strategy, said Madhavi Mantha, Senior Analyst at Celent and author of the report. Whether driven by the necessity to streamline core processes such as lending or account opening, to improve the quality of customer interactions, or to fulfill compliance mandates, document management solutions are critical for the optimal functioning of a bank.

Open Text solutions are widely deployed by banking and financial services customers around the world. The Livelink ECM suite provides a core platform for discovery and audit proof for compliance activities including Financial Services Authority requirements, BASEL II, International Accounting Standards, Sarbanes-Oxley, and U.S. Securities and Exchange Commission regulations. With Open Text, financial services providers can rapidly deploy content-centric business solutions to help increase efficiencies, improve customer service levels, mitigate risk, accelerate product development cycles and streamline deal-related processes. Open Text s solutions for the financial services sector include Deal Management; Complaints Handling; Contract Management; Electronic Messaging Management; and Anti-Money Laundering Dashboard.

We are very pleased that Celent has named us a banking market leader of document handling solutions, said Kirk Roberts, Executive Vice President of Products, Solutions and Marketing at Open Text. Banks and brokers operate in one of the most competitive and highly regulated business environments of any industry. Our set of integrated ECM solutions provides financial services organizations with the tools, infrastructure and experience they need to address the requirement of continuous regulatory and compliance changes.

For more information about Open Text Solutions for Financial Services, go to: http://www.opentext.com/2/sol-industry/sol-ind-finance-services.htm.

For more information about Celent s Document Management in Banking report, go to www.celent.com.

About Celent
Celent, LLC is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis.

About Open Text
Open Text is the world's largest independent provider of Enterprise Content Management software. The company's solutions manage information for all types of business, compliance and industry requirements in the world's largest companies, government agencies and professional service firms. Open Text supports approximately 46,000 customers and millions of users in 114 countries and 12 languages. For more information about Open Text, visit www.opentext.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
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. The risks and uncertainties that may affect forward-looking statements include, among others, the failure to develop new products, risks involved in fluctuations in currency exchange rates, delays in purchasing decisions of customers, 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, 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 Form 10-K for the year ended June 30, 2005. 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.

Copyright © 2006 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.

For more information, please contact

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

Richard Maganini
Open Text Corporation
1-847-961-0662
rmaganin@opentext.com

Brian Edwards
McKenzie Worldwide
+1-503-577-4583
briane@mckenzieworldwide.com