Talware Networx Inc.
TSX VENTURE : JBS

Talware Networx Inc.

August 13, 2008 16:49 ET

Talware Networx Inc.: Press Release

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2008) - Talware Networx Inc. ("Talware") (TSX VENTURE:JBS) announces that the previously announced letter of intent with Minas De Estano De Espana SLU ("Minas") to acquire all of the outstanding common shares of Minas in exchange for common shares of Talware has terminated as the parties were unable to satisfy certain conditions pursuant to the Letter of Intent within the prescribed timeframes.

Talware's common shares continue to remain halted from trading on the TSX Venture Exchange pending clarification from the Ontario Securities Commission (the "OSC") with respect to the OSC's review of the Company's recent submission regarding certain continuous disclosure filings.

At this time, management of Talware intends to focus on resolving several outstanding matters in order to best put the company in a position to maximize shareholder value in the future. These matters include: (i) the outstanding regulatory matters described above; (ii) the retirement of outstanding liabilities which are currently in aggregate in excess of $3 million; and (iii) the divestiture of the company's software assets.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Talware believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Talware disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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

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