Meridex Software Corporation
OTC Bulletin Board : MSCLF

Meridex Software Corporation

November 20, 2006 08:30 ET

Meridex Announces Appointment of Matthew Dion as President and Chief Executive Officer

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 20, 2006) - Meridex Software Corporation (TSX VENTURE:MSC)(OTCBB:MSCLF) today announced that the board has appointed Mr. Matthew Dion as President and Chief Executive Officer, effective November 20th, 2006.

Mr. Dion has over 14 years of experience in the software industry. He was previously with Apparent Networks where he was Vice-President of Marketing, responsible for all marketing and product management functions. Brought in by the CEO to help grow the company, he helped move the company into the lucrative VoIP market and grow revenues by more than 50% year over year.

Prior to joining Apparent Networks, Matt spent 10 years at Crystal Decisions helping grow the company from a 60-person startup to the fastest growing enterprise software company in the world with more than 1,600 employees and USD$300 million in revenues. During his time at Crystal, Matt was intimately involved in the partnering strategy and had broad responsibility including strategic alliances, business development, public relations, analyst relations, product marketing, product management, and Vice-President of Sales. The company was ultimately acquired by Business Objects for approximately USD$1.2 billion.

Matt was also a member of the Board of Vancouver-based Active State when it was acquired by Sophos for $23 million in 2003. Matt is currently on the board of directors of 90 Degree Software, Time Search Inc. and INETCO Systems Limited. Matt holds a degree in Business Administration and Psychology, from Simon Fraser University, British Columbia and is a member of BC Technology Social Ventures Partners.

Dr. Intesar Ramley, Chairman of the board, stated, "We are extremely pleased to have a person of Mr. Dion's caliber joining us. He has a proven track record at increasing revenues and developing strategic sales relationships that will help Meridex move to a new level in its goal to be a world-class software company."

Dr. Ramley, who had previously held the position of President and Chief Executive Officer, will now assume the role Chief Technology Officer, allowing him to concentrate on building out the Company's product portfolio and intellectual property base.

Upon his appointment, Mr. Dion stated, "I am very excited about the potential I see for Meridex. The Company ended its 2006 fiscal year with positive cash flow in the fourth quarter and increasing sales in high margin software. The Company has an excellent technical reputation and core competencies to which I plan to add a strong sales and marketing team to bring Meridex software products to a wider market."

The Company announced that it has granted 1,500,000 options to Mr. Dion in connection with this appointment and has granted 1,200,000 options in total to four directors. The grant will be effective November 20, 2006 and will vest 25% per year over four years, have an exercise price of $0.11, and expire on November 20, 2011. The grant is subject to shareholder approval at the Company's annual general meeting and approval of the Exchange.

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Forward-Looking Statements: This press release may contain forward-looking statements. Actual events or results may differ materially from those described in the forward-looking statements due to a number of risks and uncertainties. Forward-looking statements are based on management's estimates, beliefs, and opinions. The Company assumes no obligation to update forward-looking statements.

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

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