Upheaval in the Financial Markets Sharpens the Focus on Information Governance and Enterprise Transparency

Fuels Trend to Improve Oversight and Control of Enterprise Information to Proactively Mitigate Risk, Prepare for Next Wave of Compliance Pressures; Improving Processes, Reducing Costs Keys to Success in Volatile Global Economy

Chicago, IL - 2008-10-06 - While no one can predict the full impact of the mortgage crisis gripping Wall Street and Main Street, one likely outcome is a renewal of the culture of compliance that took root in the wake of Enron s collapse a few years ago. For many organizations, it means stepped up efforts to improve the management of documents and emails supporting key regulatory processes. Better information governance can help organizations maintain stakeholder trust, improve transparency in a new wave of regulatory scrutiny and uncover new opportunities for cost reductions, according to Open Text Corporation (NASDAQ: OTEX, TSX: OTC), a global leader in enterprise content management (ECM) software.

For large companies, information governance is a major challenge, given the complexity of information systems across many departments, plus a store of electronic content that grows daily, said Cheryl McKinnon, Director of Collaborative Content Management at Open Text. Companies in many industries have made progress over the last few years to tap into this mountain of information to improve controls. But there s still more to do in corporations and government to establish comprehensive governance strategies, particularly with today s increasingly global, distributed work environment.

According to McKinnon, information governance is even more important, given the likelihood of new regulations in the U.S. and other countries to address the causes of the current financial crisis, An information governance strategy prepares your organization to meet new regulatory rules sooner, because processes and controls are already in place: there is full transparency into how information flows through the organization.

A governance strategy for content of all types and forms is particularly critical as more organizations adopt new forms of collaboration, Web 2.0 and other tools to help geographically dispersed staff work together without incurring travel or carbon footprint costs. The right governance strategy helps organizations capture and preserve content from these collaborative applications. This not only helps organizations meet regulatory and discovery rules, it also creates a corporate memory, where critical information on best practices can be preserved for future projects. Potential disruptive forces in the enterprise will bring this requirement back to the surface in the event that information workers shift jobs, leave the organization or face merger and acquisition upheavals.

To be successful, organizations must approach information governance as an enterprise-wide endeavor, rather than limit the scope to specific departments. This is critical to ensuring all important information, no matter where it s stored in an organization, is managed consistently, under the same set of rules. You may decide to address information governance requirements in stages over time, but your strategy should be based on a review of people, processes and content across the organization. Companies that take this approach often expose potential legal or regulatory risks, said McKinnon.

Integrated records and document management, collaboration, archiving, internal controls, email management, document capture/imaging, and content-centric workflows are the ECM components that form the cornerstone of an information governance strategy. These technologies allow organizations to manage information across its natural business lifecycle, define critical documents or emails that must be managed and preserved according to specific rules, and allow organizations to manage electronic information, hard-copy documents and communication of key policies, procedures and controls within the business.

Organizations can also see cost improvements and efficiencies from an effective information governance strategy. With today s global economy and increased competitive pressures, companies have to look hard at every opportunity to lower costs and improve operations, said McKinnon. Information governance also takes into account content from processes such as accounts payable or receivables, where customers can use ECM to improve processes and reduce costs. Open Text offers ECM solutions that support companies compliance initiatives, while helping them manage information more efficiently to reduce costs and improve processes. For more information, go to www.opentext.com

About Open Text
Open Text, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 46,000 customers and millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness.

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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, 2008. 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 © 2008 by Open Text Corporation. LIVELINK ECM 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

Richard Maganini
Open Text Corporation
+1-847-267-9330 ext.4266
rmaganin@opentext.com

Stephanie Dodge Fazio
Open Text Corporation
519-888-7111, x2429
sdodge@opentext.com

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