Texada Software Inc.

Texada Software Inc.

November 28, 2008 16:39 ET

TEXADA Software Inc. Announces Financial Results for Third Quarter 2008

- Revenue of $1.216 million, increase of 10% over third quarter 2007 - Loss of $112,000 compared to a loss of $648,000 in Q3 2007 - Significantly improved year-to-date results of operations and balance sheet

ONTARIO, CANADA--(Marketwire - Nov. 28, 2008) - TEXADA Software Inc. (TSX VENTURE:TXS), the premier provider of equipment rental and mobile asset management software, announces today its unaudited interim financial results for the third quarter ending September 30, 2008.

For the third quarter ended September 30, 2008, Texada generated total revenues of $1,216,472 and a loss for the period of $111,832. Adjusted EBITDA loss (defined as loss for the period adjusted for amortization, accretion on convertible debt, interest expense, foreign exchange losses, severance expense, stock based compensation expense, and gain on sale on intangible assets) was $33,146. These results were an improvement as compared to Q3 2007. The third quarter in 2007 had revenues of $1,111,393, a loss for the period of $647,505 and an Adjusted EBITDA loss of $363,702.

Revenue in the nine months ended September 30, 2008 was $3,671,103, an improvement of 10% compared to the same nine months of 2007. Loss for the nine months in 2008 was $399,775, a significant improvement compared to a loss of $1,984,073 in the nine months of 2007.

"The first nine months of 2008 have seen significant improvement to the bottom line results," said Brian Spilak, incoming President & CEO of Texada. "I'm excited for the opportunity to work with the talented people at Texada and the numerous leading construction rental organizations that rely on our systems every day. The remainder of this year and 2009 will continue to be focused on adding value to our existing customer base and on expansion into the construction contractor market with our proven asset management applications."

The Company's financial results are presented below:

Thousands of Canadian Dollars Three Months Ended Nine Months Ended
(except per share amounts) September 30 September 30
2008 2007 2008 2007
Revenue $ 1,216 $ 1,111 $ 3,671 $ 3,348
Operating Loss (33) (364) (28) (934)
Loss for the Period (112) (648) (400) (1,984)
Loss per share $ (0.001) $ (0.01) $(0.005) $ (0.04)

More information may be found at www.sedar.com.

About Texada Software (TSX VENTURE:TXS)

Texada Software Inc. is the premier provider of enterprise software solutions for mobile equipment and rental management. Texada's solutions are fully flexible and scalable to meet the unique needs of any sized operation and are backed by proven implementation, services and support.

Texada's market-driven software products combine knowledge and best practices from over 400 customers worldwide, resulting in solutions that manage the complete asset life-cycle from acquisition through to disposal. Our customers enjoy the benefits of enhanced efficiency through better asset utilization, effective location tracking, and optimized scheduling.

Texada can be reached at 1-800-361-1233 or +1-519-836-7073, or on the internet at www.texadasoftware.com.

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Texada's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Other than as required by applicable law, management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

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

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