Waterloo, ON - 2003-09-22 - Open Text™ Corporation (Nasdaq: OTEX, TSX: OTC), provider of Livelink®, the leading collaboration and content management software for the global enterprise, said today it will present new software solutions for compliance in the financial services industry at inSIGHT’s 5th Annual Regulatory Compliance for Financial Institutions Conference Sept. 23-24 in Toronto. The conference will address the full range of compliance issues facing financial services firms, including corporate governance, securities regulations and new legislative initiatives.

Open Text will showcase solutions that help financial services firms meet complicated certification, training, reporting and corporate governance rules. Software solutions offering these capabilities have become increasingly important, as more laws are passed to address the global risk of terrorism and last year’s accounting scandals in the U.S. The Open Text solutions presented will include its Enterprise Development Center (EDC) software, which provides a compliance infrastructure for tracking, managing and reporting employee licensing and certification for securities and financial services firms. EDC is a proven learning management solution, with some 25,000 seats deployed at major financial services firms. Combined with Livelink, the solution allows users to:

• Manage professional registration and licensing records while ensuring data integrity throughout the process
• Collect, track and report regulatory submission requirements
• Facilitate employee training through a cost effective delivery system
• Securely manage regulated documents throughout a lifecycle including authoring, reviews/edits and approvals in compliance with all relevant regulatory requirements
• Create internal processes that ensure an organization has the capabilities to manage and respond in a compliant manner

“How well a firm collects, tracks and reports information to national, international, and provincial or state regulatory organizations is critical to reducing liability and increasing revenue,” said Frank McKeown, Director of EDC Solutions at Open Text. “In order to keep up with the pace of new regulations, customers need comprehensive, integrated solutions with compliance built in.”

Other solutions Open Text will present at the conference include:

• Livelink for Corporate Governance: Livelink for Corporate Governance offers a regulatory compliance infrastructure to address new corporate governance laws, such as the U.S.’s Sarbanes-Oxley and Bill 198 in Ontario. The solution integrates Livelink’s collaboration tools, auditable workflows and process controls, document and records management, e-mail management, and certification and training delivery.



• Livelink Records Management: Livelink Records Management is a comprehensive solution for managing and tracking the circulation of all corporate records, whether electronic or physical. The software allows users to apply retention and disposition rules to records and place “holds” on specific records that are under discovery or government access requests to ensure they are preserved.

The event is being held at the Radisson Admiral Harbourfront Hotel, 249 Queen's Quay West, in Toronto. Open Text is also a sponsor for the Sept. 23rd breakfast, starting at 8:00 a.m.—guests are welcome to attend. For more information on the event, go to: http://www.opentext.com/events/event.html?id=35073

Livelink is a leading software product in enterprise content management (ECM) for the global enterprise. Its richly-featured enterprise services are based upon a unique combination of integrated collaboration and knowledge management tools which include virtual team collaboration, business process automation, enterprise group scheduling, document and image management, and information retrieval services, all tightly integrated into a solution that is easily customized and extended. Livelink is essential to the effective management and development of communities of interest that span organizations and industries. For everything from the creation of complex e-community relationships to the automation of simple e-business processes, Livelink delivers true dynamic collaboration between individuals, organizations and large trading communities. Livelink servers are fully Web-based and open-architected to ensure rapid deployment and easy access to its full functionality through a standard Web browser. For more information, visit www.opentext.com/livelink/.

Since 1991, Open Text Corporation has delivered innovative ECM software that brings people together to share knowledge, achieve excellence, deliver innovation, and enhance processes. Its legacy of innovation began with the successful deployment of the world’s first search engine technology for the Internet. Today, as the leading global supplier of collaboration and content management software for the enterprise, Open Text supports fifteen million seats across 10,000 corporate deployments in 31 countries and 12 languages throughout the world. As a publicly traded company, Open Text manages and maximizes its resources and relationships to ensure the success of great minds working together. For more information, visit www.opentext.com.

Copyright © 2003 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.

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 quarter ended March 31, 2003. 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.

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