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Open Text Corporation Announces Additions to Financial Management Team

Current CFO Moves To Corporate Development, New CFO Joins Company

Waterloo, ON – 1997-10-27 – Open Text Corporation (NASDAQ: OTEX), a leading provider of Intranet based knowledge management application software and services, today announced additions to its financial management team.

William N. Stirlen will take over the position of Executive Vice President of Corporate Development effective October 27, 1997. Stirlen will be primarily responsible for corporate finance matters including mergers and acquisitions, investor communications and financings. Stirlen has over 30 years of experience in corporate finance and mergers and acquisitions

Thomas Hearne has assumed the position of Chief Financial Officer reporting to Open Text President, Brett Newbold. In that capacity he will be responsible for all operational financial matters including financial reporting and financial controls, budgeting and administration. Hearne served as VP Finance & Administration at Algorithmics, a computer software company, and prior to this he was European Controller & Manager, Financial Reporting at Alias Wavefront, a computer software company. Hearne was also a manager at Price Waterhouse and is a Chartered Accountant, holds an MBA from York University and a B.A. in Economics from Trent University.

Tom Jenkins, CEO of Open Text says: "This most recent appointment to our management team is part of an overall restructuring to support an aggressive growth strategy. Bill Stirlen will now provide us with full time attention to matters of corporate finance and mergers and acquisitions while Thomas Hearne will focus on the operational aspects of the financial position. Together, they make a strong team which will permit us to continue our growth strategy."

For more information, please contact

William N. Stirlen
Open Text Corporation
(519) 888-7111 ext. 2257