DataMirror Corporation

DataMirror Corporation

March 22, 2005 08:23 ET

DataMirror Announces Preliminary Results of Substantial Issuer Bid


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DATAMIRROR CORPORATION

TSX SYMBOL: DMC
NASDAQ SYMBOL: DMCX

MARCH 22, 2005 - 08:23 ET

DataMirror Announces Preliminary Results of
Substantial Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - DataMirror®
(TSX:DMC)(NASDAQ:DMCX), today announced that, based on initial reports
as to the response to the Company's substantial issuer bid, it will
purchase for cancellation a total of 2,000,000 common shares (subject to
increase to avoid the creation of odd-lots as a result of proration)
pursuant to its offer to purchase dated February 11, 2005; at a purchase
price of $10.00 per common share. The offer for the common shares
expired at 5:00 p.m. (Toronto time) on March 21, 2005.

The number of common shares deposited at or below the purchase price as
at the expiration date of the offer for common shares was 3,113,239. As
a result, shareholders who deposited common shares at or below the
purchase price of $10.00 will have approximately 64% of their common
shares bought back at the purchase price, subject to adjustments for odd
lots and to avoid the creation of fractional common shares and to avoid
the creation of odd lots as a result of proration.

The Company and CIBC Mellon Trust Company, expect that the final
purchase price, proration factor and exact number of common shares to be
taken up and paid for under the offer will be determined on or before
March 28, 2005. Payment for common shares tendered and accepted for
purchase will be made by March 29, 2005. Return of common shares not
purchased because of proration or because they were invalidly deposited,
will be made as promptly as possible.

The common shares to be repurchased comprise approximately 19% of the
outstanding common shares of the Company before giving effect to the
repurchase. After giving effect to the repurchase, there will remain
outstanding approximately 8,556,000 common shares.

About DataMirror

DataMirror (NASDAQ: DMCX; TSX: DMC), a leading provider of real-time
data integration, protection, audit and java database solutions,
improves the integrity and reliability of information across all of the
systems that create and store data. DataMirror's flexible and affordable
integration solutions allow customers to easily and continuously detect,
translate, and communicate all information changes throughout the
enterprise. DataMirror helps customers make better decisions by
providing access to the continuous, accurate information they need to
take timely action and move forward faster.

Over 2,000 companies have gained tangible business benefits from
DataMirror software, including Debenhams, FedEx Ground, First American
Bank, OshKosh B'Gosh, Priority Health, Tiffany & Co., and Union Pacific
Railroad. DataMirror is headquartered in Markham, Canada and has offices
around the globe. For more information, visit www.datamirror.com.

"Safe Harbour" Statement under the United States Private Securities
Litigation Reform Act of 1995:

Forward-looking statements in this press release, including statements
regarding DataMirror Corporation's business which are not historical
facts, are made pursuant to the "safe harbour" provisions of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements of plans, objectives, strategies and
expectations. The words "anticipate", "believe", "estimate" and "expect"
and similar expressions are intended to identify forward-looking
statements. Numerous important factors affect DataMirror's operating
results and could cause DataMirror's actual results to differ materially
from the results indicated by this press release or by any
forward-looking statements made by, or on behalf of, DataMirror, and
there can be no assurance that future results will meet expectations,
estimates or projections. These factors include, but are not limited to,
the following: the difficulty of developing, marketing and selling new
products successfully; variability of quarterly operating results;
dependence upon the continued growth and success of DataMirror's
software products; competition; rapid technological change and new
product introductions; dependence upon continued growth in the database
and enterprise data integration markets; dependence upon relationships
with complementary vendors and distribution channels; the ability to
recruit and retain key personnel; risks of international operations,
including currency exchange rate fluctuations and global economic
conditions; possible software errors or defects; possible infringement
claims by third parties; and other factors discussed in the DataMirror's
Annual Information Form and other periodic filings with the United
States Securities and Exchange Commission and other regulatory
authorities. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results may vary materially from
those indicated in any forward-looking statements. DataMirror disclaims
and does not assume any obligation to update these forward-looking
statements.

Copyright 2005 DataMirror Corporation. All rights reserved. DataMirror
is a registered trademark of DataMirror Corporation. All other brand or
product names are trademarks or registered trademarks of their
respective companies.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    DataMirror Corporation
    Tom Giantsopoulos
    Corporate Communications
    (905) 415-0310 ext. 153
    tgiantsopoulos@datamirror.com
    or
    DataMirror Corporation
    Peter Cauley
    Chief Financial Officer
    (905) 415-0310 ext. 271
    pcauley@datamirror.com