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Open Text Named One of Canada’s Fastest Growing Companies in the Canadian Technology Fast 50 Program

Waterloo, ON – 1999-9-15 – Open Text™ Corporation (NASDAQ: OTEX, TSE: OTC), the world leader in Web-based collaborative knowledge management and corporate portal software, has been recognized as a 1999 Canadian Technology Fast 50 company, an annual ranking by Deloitte & Touche of the 50 fastest growing companies in Canada based on the percentage of growth from 1994-1998.

Having 2685.58 percent revenue growth over the past five year period, Open Text ranked 10th overall in the 1999 Canadian Technology Fast 50. Open Text attributes its high level of growth to the increasing number of Global 2000 companies that are realizing the value of collaborative knowledge management solutions to accelerate innovation across the enterprise.

"Open Text is proud to be acknowledged as one of the fastest growing technology companies in Canada," said Tom Jenkins, Chief Executive Officer, Open Text Corporation. "Open Text’s listing on the Canadian Technology Fast 50 is a testament to the continued growth of the collaborative knowledge management industry, with more and more companies recognizing how collaboration can increase productivity, speed up business processes and reduce costs."

"Deloitte & Touche, through the Canadian Technology Fast 50 program recognizes, and honours the fastest-growing technology companies whose leaders, like Open Text, have the vision and determination to beat the odds and build dynamic technology solutions that contribute to the world," said Garry Foster, National Director, High Technology Sector, Deloitte & Touche.

For more information about the Canadian Technology Fast 50 1999 winners, please visit the Fast 50 1999 Web site.

The Canadian Technology Fast 50 annually recognizes the 50 fastest growing technology companies in Canada based on compound rates of annual revenue growth during the previous five year period. The ranked list of 50 companies includes public and private companies in all technology segments including, biotechnology, semiconductors, Internet, software and communications. To be eligible, companies must have been in business for a minimum of five years, have had 1994 revenues of at least $75,000, have had 1998 revenues of at least $1,000,000, and be legally incorporated and headquartered in Canada.

About Deloitte & Touche

Deloitte & Touche is one of Canada’s leading professional services firms, providing a full range of assurance and advisory, tax, and specialized financial and business consulting services. The professionals of Deloitte & Touche’s High Tech Industry group, working out of offices located in the nation’s high tech hubs – Ottawa, Montreal, Toronto, Kitchener, Calgary, and Vancouver, have exceptional knowledge and experience in serving advanced technology companies across Canada, the United States and internationally.