Cortex Business Solutions Inc.
TSX VENTURE : CBX

Cortex Business Solutions Inc.

July 20, 2011 12:00 ET

Cortex Adds Its 5th US Producer to the Cortex Network

CALGARY, ALBERTA--(Marketwire - July 20, 2011) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) ("Cortex" or the "Company"), is pleased to announce the signing of its 5th US Producer and 7th this year onto the Cortex Trading Partner Network ("Network"). Our newest producer is headquartered in Houston Texas and is one of the largest privately held oil and natural gas companies in the United States. 60% of their suppliers are already connected to Cortex and the remainder will be on-boarded by Cortex to achieve 80% invoice automation.

'We are very excited with the continued momentum building in the United States" said Ryan Lailey, VP of Business Development at Cortex. "Over the past few weeks, Cortex has been engaged in numerous opportunities in both Canada and the US and our pipeline of new customer opportunities have never been stronger. We continue to work with these organizations, and our partners, to accelerate the growth of our network in North America."

Cortex's cloud based invoice automation, procure to pay and order to cash services provide organizations with an effective way to reduce the cost of invoice processing, improve financial controls and reduce days outstanding.

The Cortex Trading Partner Network continues to grow and now has well over 4500 companies connected. The Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices, resulting in improved cash flow management and business controls while reducing days outstanding and administrative costs. Cortex is a low cost, low risk cloud-based solution that can be implemented quickly by leveraging its customers' existing business environment.

About Cortex Business Solutions Inc.

Cortex Business Solutions is an enterprise eProcurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers.

The Cortex Trading Partner Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices, resulting in improved cash flow management and business controls while reducing days outstanding and administrative costs.

Cortex is a low cost, low risk cloud-based solution that can be implemented quickly by leveraging its customers' existing business environment

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

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

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