Meridex Software Corporation

Meridex Software Corporation

January 29, 2008 12:37 ET

Meridex Announces Dennis Weyrauch as Chief Operating Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Meridex Software Corporation (TSX VENTURE:MSC), leading provider of IP security and facilities management software solutions, today announced that Dennis Weyrauch is the new Chief Operating Officer and Corporate Secretary for the Company.

Weyrauch has 25 years of legal and software management experience. He was the lead ProClarity business executive during M&A negotiations with Microsoft. Following the conclusion of the acquisition transaction, Dennis joined Microsoft's Law and Corporate Affairs department (LCA) in an operations, licensing & distribution and business integration capacity. Weyrauch was formerly Senior Vice President of Corporate Services and Corporate Secretary for ProClarity; COO and Corporate Secretary for Aultimate Technology; Marketing, COO, General Counsel and Corporate Secretary for NetMedia, Inc.; and Vice President, General Counsel and Corporate Secretary for Artisoft, Inc. In addition, Dennis was a majority shareholder in a law practice, specializing in intellectual property, corporate and securities law for over seven years.

"Dennis will be a huge asset to help drive the company," said Matt Dion, President and CEO, Meridex Software Corporation. "On top of the recent additions to the board and management, attracting someone of Dennis' calibre to the company is a great testament to how well the company has executed on its goals and how strategically positioned it is for growth."

Weyrauch will manage all operations including finance, legal, G&A, and day-to-day operations. Additionally, Weyrauch will serve as General Manager of the company's Idaho-based business operations. With Weyrauch on board, Dion will concentrate on developing the future growth strategy of the company. Dion will be directly involved in product management, sales and marketing.

Recent changes to the management team and board of directors are an integral part of Meridex's plan to restructure the company to drive revenue and build long term strategic value.

The Company announced today that it has granted 2,410,000 to various directors and officers, including Mr. Weyrauch, as part of the Company's incentive stock option plan. The grant will be effective January 29, 2008, will expire January 29, 2013, will have an exercise price of $0.095, and will vest over 18 months with the majority vesting in the second half of the period. The grant is subject to TSX approval.


Meridex Software Corporation is a leading provider of IP security and facilities management software solutions. Meridex enables educational institutions, government, hospitals, retail and corporate enterprises to manage, monitor, and optimize security and facilities management systems. Specializing in highly-integrated building security, camera monitoring, HVAC and lighting controls that operate based on industry standards, Meridex is developing intelligent IP surveillance and business optimization solutions to enable real-time monitoring systems through wireless networks.

(C) 2008 Meridex Software Corporation. Meridex and the Meridex logo are trademarks or registered trademarks of Meridex Software Corporation. All other trademarks are the property of their respective owners.

Forward Looking Statements

This discussion may contain certain forward-looking statements reflecting the Company's current expectations and estimates about the markets in which the Company operates and management's beliefs and assumptions regarding these markets. Investors are cautioned that all forward -looking statements involve risks and uncertainties, including, without limitation, changes in market and competition, technological and competitive developments, potential downturns in general economic conditions, and the potential impact of any mergers, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made. Additional information on these and other potential factors that could affect the Company's financial results are included in this discussion and in documents filed from time to time with the provincial securities commissions in Canada.

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