Acceleware Corp.
TSX VENTURE : AXE

Acceleware Corp.

January 22, 2007 19:00 ET

Acceleware Closes $2,925,000 Investment by NVIDIA Corporation

CALGARY, ALBERTA--(CCNMatthews - Jan. 22, 2007) - Acceleware Corp. (the "Corporation" or "Acceleware") (TSX VENTURE:AXE) is pleased to announce that it has closed the previously announced non-brokered private placement of 4,500,000 units (each a "Unit") to NVIDIA Corporation (NASDAQ: NVDA) at a price of $0.65 per Unit for aggregate gross proceeds of $2,925,000 (the "Offering"). The price per Unit represents a 20% discount from Market Price on January 11, 2007, which was reserved with the TSX Venture Exchange on January 12, 2007. Each Unit consists of one common share (a "Common Share") and one-half of one common share-purchase warrant (a "Warrant"). Each whole Warrant is exercisable into one Common Share at a price of $1.29 per Common Share for a period of 24 months from the issuance of the Warrants. The securities issued pursuant to the Offering are subject to a statutory resale restriction period of four months and a day, which expires on May 23, 2007.

The net proceeds from the Offering will be used for the marketing, sales, and ongoing development of acceleration products for electromagnetic simulation and seismic data processing markets, as well as capital equipment, facilities, and working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About Acceleware Corp.

Acceleware (TSXV: AXE) develops and markets performance-optimized acceleration products that significantly reduce the run-times of high-performance computing (HPC) applications such as cell-phone design and seismic data processing. By leveraging the base processing power of GPUs (graphics processing units) with proprietary acceleration software, compute-intensive applications can achieve unparalleled performance and speed. Acceleware delivers processing superpower.

Acceleware is developing and selling products for the electromagnetic, energy, biomedical, pharmaceuticals, industrial and military markets. These markets share a common need; as companies continue to push the boundaries of innovation and demand faster product development cycles for more complex products, the need for accurate and timely computer modeling and testing is steadily increasing. For more information, visit www.acceleware.com.

About NVIDIA Corporation

NVIDIA Corporation is the worldwide leader in programmable graphics processor technologies. The company creates innovative, industry-changing products for computing, consumer electronics and mobile devices. NVIDIA has annual revenues of over $2.5B, is headquartered in Santa Clara, CA, and has offices throughout Asia, Europe and the Americas. For more information, visit www.nvidia.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

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