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Open Text Honored for Best Overall Investor Relations and IRO

Open Text Investor Relations Recognized with Four Awards and Two Honourable Mentions

Waterloo, ON – 2002-2-25 – Open Text™ Corporation (Nasdaq: OTEX, TSE: OTC), a worldwide leader in delivering collaborative knowledge management (CKM) solutions, today announced that the Investor Relations Magazine, in association with Canada's national newspaper The Globe and Mail, recognized the excellence in Open Text's investor relations with awards for Best Overall Investor Relations, Best Investor Relations Officer, Best Investment Community Meetings and Best Use of Conferencing.

The awards are the outcome of a survey commissioned by Investor Relations Magazine to recognize excellence in investor relations, assess market information needs and track industry trends in Canada. The report reflects the collective opinions of 260 portfolio managers, buy-side and sell-side analysts in Canada, 109 professional investors in the U.S. and 607 individual investors in Canada.

"It's important to note that the research for our awards is based on an independent survey of key constituents of the investment community," said Adrienne Baker, New York Correspondent, Investor Relations Magazine. "The nominees stood out in 2001, a year marked by very tough times in the market place, and an exceptionally difficult time for small to mid cap companies to gain visibility. Clearly analysts and investors were very impressed with the IR efforts of our winners."

Voter comments for the winning awards include:

Grand Prix: Best Overall Investor Relations $500 Million to $1 Billion Market Capitalization—Open Text

  • "Best all-round people and resources."
  • "Good overall corporate IR."
  • "Exceptional IR director."

Best Investor Relations Officer under $1 Billion Market Capitalization—Greg Secord, Open Text Corporation
  • "He is perfectly responsive to our needs. He is proactive and focused."
  • "Greg is professional, enthusiastic and knowledgeable."
  • "Provides good and frequent news updates."

Best Investment Community Meetings Under $1 Billion Market Capitalization—Open Text
  • "Meetings provide good road map of the company."
  • "Hold very good regional conferences."
  • "Ability to meet with customers."

Best Use of Conferencing Under $1 Billion Market Capitalization—Open Text
  • "Their meetings and conferences are conducted well using enhanced teleconferencing."

Open Text was also a finalist in the Best Senior Management Communications and Best Use of Technology in IR categories.

"We are delighted to receive these awards on behalf of our investor relations initiatives," stated Alan Hoverd, Chief Financial Officer of Open Text. "Open Text has always been committed to best practices in our investor relations program. These awards recognize the concerted efforts we make to keep members of the investment community informed on the activities of Open Text."

To see which companies and IR professionals the investment community chose as the best performers over the past year, visit: www.irmag.com/static/awards/pastwinners/canada.html The complete results, including the investment professional's views on issues in IR as well as verbatim comments about the winners, are published in the Canada Research Report 2002.

About Livelink

Livelink is a highly scalable collaborative knowledge management (CKM) application. Its richly-featured enterprise services include virtual team collaboration, business process automation, enterprise group scheduling 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/

About Open Text

Open Text provides collaborative knowledge management (CKM) solutions for e-business that enable users to extend and build CRM, SCM and ERP applications and allow them to work together within and across organizations. Open Text has pioneered the development of innovative intranet, extranet and e-business applications. Since creating one of the first search engines to index the World Wide Web, the Company has remained at the forefront of Internet-based technologies. Its solution family called Livelink enables individuals, teams, organizations, and global trading communities to collaborate on e-business applications that facilitate e-commerce and other transactions among Global 2000 organizations. For more information, visit www.opentext.com