Computer Modelling Group Ltd.

Computer Modelling Group Ltd.

December 18, 2008 18:37 ET

CMG Announces Change in Chief Financial Officer

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2008) - Computer Modelling Group Ltd. ("CMG" or the "Corporation") (TSX:CMG) is pleased to announce the appointment of John Kalman as Chief Financial Officer effective today. Mr. Kalman is currently Vice President, Finance of CMG, having been appointed to such position on September 2, 2008. This appointment completes the transition of portfolios from Janet Taylor who announced her intention to retire earlier this year.

"I would like to thank Janet, for the exceptional contribution that she has made over the last twelve years at CMG", said Ken Dedeluk, President and Chief Executive Officer. "Janet joined CMG just prior to our IPO in 1997, and has been instrumental in the development and implementation of plans, that have seen us grow our software license revenue four fold, and achieve consistent profitability for the last eight years. On behalf of the Board of Directors, the management and employees, I would like to take this opportunity to wish Janet the very best in her well deserved retirement."

CMG 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, Caracas and Dubai. 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 technology centres in more than 45 countries. CMG's common shares are listed on the Toronto Stock Exchange and trade under the symbol CMG. For more information, please visit CMG's web site at

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

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