Preo Software Inc.

Preo Software Inc.

December 20, 2010 08:30 ET

Preo Adds 10,000 User Licenses

CALGARY, ALBERTA--(Marketwire - Dec. 20, 2010) - Preo Software Inc. (Preo) (TSX VENTURE:PKM), announces that it has added over 10,000 user licenses from new customers in the oil and gas and transportation industries. Of the new additions, 25% were in the United States and 75% in Canada; however the majority of current installations continue to be in the US. The Company also received license renewals during the quarter from existing customers including a large multinational OEM headquartered in the US and an oil and gas company in Canada.

"It appears the momentum is building very rapidly. The exposure Preo has gained and the overwhelming positive feedback we are receiving from recently added and long term users and distributors of our technology is very encouraging" said Gary McCone, President and CEO.

"2011 is shaping up to be a break out year for the company. Our partners, including Supplies Network, Toshiba America Business Solutions and Xerox Corporation, are all bullish on the upcoming year and we are very well aligned strategically with some of their key priorities and sales initiatives."

"I am pleased with what we achieved in 2010. Our successful entry into the rapidly growing Managed Print Services (MPS) industry through leaders like Supplies Network and Toshiba bodes well for our future. The fact that Preo was mentioned in over a dozen industry articles and InfoTrends referred to the Preo / Supplies Network relationship as having "the ability to be a disruptive force in the North American MPS landscape" demonstrates the impact we are having in the industry."

About Preo Software Inc.:

Preo Software Inc. is the market leader in providing Print Knowledge Management Systems (PKMS) to enterprises, select OEM's, and Managed Print Services providers around the world. Printelligence, the company's award winning flagship SaaS (Software as a Service) offering empowers corporate clients to optimize their print assets, reduce print volumes, all the while yielding significant cost savings and reducing the environmental footprint.

Preo is a seven year old technology company maintaining offices in both Canada and the United States with products deployed in over three thousand organizations worldwide.

Printelligence™ MPS is a SaaS based print knowledge management system that is licensed to select Original Equipment Manufacturers (OEM's) and Managed Print Providers to seamlessly integrate into their MPS business processes. Printelligence™ MPS is an enterprise application that empowers knowledge-workers by promoting accountability, awareness and positive behavioral change to maximize value and reduce the cost of print …without negatively affecting end-user productivity.

This press release contains certain forward-looking statements with respect to the business and affairs of Preo and management's assessment of future sales, plans and operations and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties and are based on certain assumptions, certain of which are beyond the control of Preo and which may prove to be incorrect. Such risks and uncertainties include, without limitation, risks associated with sales, profitability, requirements for capital to satisfy contractual obligations, the impact of general economic conditions in Canada, the United States and overseas, changes in the software industry and changes in laws. Actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds or profits, that Preo will derive therefrom. Investors are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to Preo or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements are made as at the date of this press release and Preo does not undertake any obligation to update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable laws to issue a press release in the event of a material change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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