SOURCE: Cytiva Software Inc.

February 27, 2008 09:30 ET

Cytiva Moves Into Larger Vancouver Headquarters

Record Growth Brings New Offices for Canadian Software Developer

VANCOUVER, BC--(Marketwire - February 27, 2008) - Cytiva Software Inc. (TSX-V: CRX), a leading provider of on-demand recruiting, performance management and educational administration software solutions, announced the relocation of its corporate headquarters in British Columbia to a new, larger facility in downtown Vancouver.

The Company is combining the offices of their current Burnaby headquarters and the West 3rd office of newly acquired one45 Software.

Cytiva's revenues grew nearly 60% in 2007 and with the acquisition of one45 Software in December, the Vancouver headcount has doubled. The new facility, located at 850 West Hastings Street, 8th Floor, Vancouver, BC V6C 1E1, will house administrative, research and development and client services personnel.

The new facility is nearly triple the size of the previous space and is expected to easily accommodate existing employees as well as anticipated growth for the next few years. Cytiva anticipates another significant increase in revenue for 2008.

"The acquisition of one45 and the imminent launch of our new SonicPerform performance management software system has increased our headcount and revenue dramatically," said Jason Moreau, president and CEO of Cytiva Software. "The fact that we were able to find a new building to accommodate our combined workforces that is close to the water, downtown amenities, transportation hub and the financial district is very encouraging."

In addition to its Vancouver headquarters, Cytiva maintains U.S. headquarters in Emeryville, CA, as well as satellite offices in Petaluma, CA, Marlborough, MA, Grand Rapids, MI, and Dallas, TX.

About Cytiva Software Inc.

Cytiva Software Inc. (TSX-V: CRX) provides innovative software and services to help mid-sized and Fortune 500 companies hire, manage and maximize their talent. Its flagship talent acquisition product, SonicRecruit, allows corporations to screen applicants, automate their recruiting departments, customize their corporate career sites and hire great people. This premier applicant tracking system improves recruiting effectiveness, speeding up the hiring process and reducing cost per hire. Over 220 organizations use Cytiva software, including Coca Cola Bottlers, Mazda, Ocean Spray, Restoration Hardware, Netflix and more. For more information, visit

The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Cytiva and One45, which Cytiva is proposing to acquire. These statements are based on current expectations and estimates about the human resources markets in which both Cytiva and One45 operate and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. In addition, the acquisition of One45 by Cytiva is subject to various conditions, including a due diligence review, the entering into of a formal share purchase agreement and regulatory approval. Some of these factors are largely beyond the control of Cytiva. Should any factor impact Cytiva in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Cytiva will be realized or, even if substantially realized, that they will have the expected consequences for Cytiva. Readers should not place undue reliance on any forward-looking statements. Further, Cytiva disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.

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