Open Text receives conditional approval for Toronto Stock Exchange Listing

Waterloo, ON - 1998-05-08 - -- Open Text Corporation (NASDAQ: OTEX), the developer of Livelink, the leading intranet-based collaborative knowledge management application software, today announced that it has received conditional approval of The Toronto Stock Exchange (TSE) to list its common shares under the symbol "OTC". Final approval of the TSE and commencement of trading are conditional on the Company filing its prospectus qualifying the common shares issuable upon exercise of the special warrants privately placed in Canada for gross proceeds of US$36,487,500 on March 25, 1998. The Company expects to finalize and file its final prospectus with the applicable Canadian provincial securities commissions in approximately four to six weeks.

The listing will provide Canadian residents and financial institutions with greater access to the Company's shares, which have traded in the United States on the Nasdaq National Market System under the symbol "OTEX" since 1996.

"We are extremely pleased to be listing Open Text shares on The Toronto Stock Exchange," said Tom Jenkins, Chief Executive Officer, Open Text Corporation. "This listing provides increased Canadian exposure for the Company and we look forward to increased liquidity for our shareholders."

The Company will now produce Canadian financial statements in accordance with Canadian regulatory requirements, but will continue to employ U.S. Generally Accepted Accounting Principles (U.S. GAAP) as its primary method of communicating financial information.

Release Disclaimer

This news release may contain forward-looking statements relating to the future performance of Open Text Corporation. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are 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 year ended June 30, 1997, and Form 10-Q for the quarters ended September 30, 1997, and December 31, 1997. Note to Editors: Livelink Pinstripe, Livelink 8, Livelink Search, Livelink Library, Livelink Workflow and Livelink Project Collaboration are trademarks of Open Text Corporation. All other trademarks are the property of their respective companies.

For more information, please contact

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