Talware Networx Inc.

Talware Networx Inc.

September 06, 2005 15:21 ET

Talware Networx Inc. : Press Release

TORONTO, ONTARIO--(CCNMatthews - Sept. 6, 2005) - Talware Networx Inc. (TSX VENTURE:JOB) announced today the release of its interim financial statements and Management's Discussion and Analysis and Results of Operations for the six-month period ended June 30, 2005. This document may be viewed at www.sedar.com.

Talware also announced today that the following matters were approved by the company's shareholders at a recent annual and special meeting of shareholders:

1. a proposed consolidation of the company's outstanding shares in a ratio not less that two pre-consolidation common shares for one new post-consolidation common share and not more than ten pre-consolidation common shares for one new post-consolidation common share;

2. the re-appointment of Bennett Gold, Chartered Accountants as the company's auditors;

3. the election of Alan Rootenberg, Alpha Pang, Norm Grafstein and Paul Vorvis as directors of the Corporation. Although Constance Crosby and Rami Thabet were also on the slate of directors elected at the meeting, subsequent to the meeting they have determined not to proceed at this time with their respective appointments to the board;

4. upon completion of the proposed share consolidation, to create a new stock option plan that would replace the company's two existing stock option plans. The company also provided clarification to the status of its existing stock option plans. The company advised that notwithstanding the resolution of shareholders passed at the company's annual meeting held on July 16, 2003, whereby the shareholders voted to amend the company's former option plans by combining them into one plan and to increase the number of shares of the company for which options may be granted under the resulting plan, the company subsequently elected not to proceed with the amendment to the option plans and the creation of a new plan. Consequently, the company continues to maintain the two previously existing stock option plans.

About Talware Networx Inc.

Talware Networx Inc. provides human capital recruitment and retention solutions for professional recruitment companies and corporate human resource departments. The company's suite of products allows users to source and manage human capital resources on a local, national and global basis. They include solutions for private label job boards, skill and experience identification, applicant marketing and employee communication.

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

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