Computer Modelling Group Ltd.

Computer Modelling Group Ltd.

May 18, 2006 16:34 ET

Computer Modelling Group Declares Quarterly and Special Dividends

CALGARY, ALBERTA--(CCNMatthews - May 18, 2006) - Computer Modelling Group Ltd. (TSX:CMG) ("CMG") today announced a 20% increase in its quarterly dividend to six cents Canadian (CAN $0.06) per share on CMG's common and non-voting shares. In addition, CMG declared a special dividend of twenty-four cents Canadian (CAN $0.24) per share, on CMG's common and non-voting shares. Both the quarterly and the special dividends will be paid on June 15, 2006 to shareholders of record at the close of business on June 1, 2006.

"We are pleased to share an immediate distribution of CMG's financial success with our shareholders," said Kenneth Dedeluk, President and Chief Executive Officer. "While CMG is investing significant funds towards the development of the newest generation of reservoir simulation software, we will continue to declare a quarterly dividend in line with the company's dividend policy."

Computer Modelling Group Ltd. is a computer software technology and consulting company serving the oil and gas industry. The Company, recognized by oil and gas companies worldwide as a leading developer of reservoir modelling software, has sales and technical support services based in Calgary, Houston, London, and Caracas. CMG is the leading supplier of advanced processes reservoir modelling software in the world with a blue chip client base of international oil companies and research centers in 44 countries. The Company's shares are listed on the Toronto Stock Exchange under the trading symbol "CMG".

Forward Looking Statements: The reader should be aware that historical results are not necessarily indicative of future performance. Certain statements in this press release may constitute forward-looking statements, which can generally be identified as such because of the context of the statements including words such as the Company believes, anticipates, expects, plans, estimates or words of a similar nature. The forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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