Open Text Announces Share Repurchase Program

May 16, 2006


Open Text Corporation, a provider of Enterprise Content Management (ECM) software, has announced that it has initiated a program to repurchase--from time to time over the next 12 months, and if considered advisable--up to an aggregate of 2,444,104 Common Shares on the Nasdaq National Market, which represents 5% of the issued and outstanding shares. Open Text has filed a notice of its intention to commence an open market repurchase program with applicable Canadian Securities Regulators. Purchases are expected to occur on or after Friday May 19, 2006. As of May 1, 2006, Open Text had 48,882,090 issued and outstanding Common Shares. All Common Shares purchased by Open Text pursuant to the program will be cancelled.