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Subject: OASIS MEMBER NEWS: SoftQuad Software Names Andrew Muroff as President,David Lewis as Chief Financial Officer
News Release SoftQuad Software Names Andrew Muroff as President, David Lewis as Chief Financial Officer Company Formalizes Mergers & Acquisition Program TORONTO, ON – November 8, 2000 – The Board of Directors of SoftQuad Software, Ltd. (OTC BB: SXML), an internationally recognized developer of XML-enabling technologies and commerce solutions for e-business, announced today the appointment of Andrew Muroff as President and a Director and David R. Lewis as Chief Financial Officer. The company also announced that it intends to pursue an aggressive mergers and acquisition program to add new sources of revenue and enhance the company’s technological base. As president, Andrew Muroff will spearhead this program as well as corporate development, particularly the maintenance and development of strategic alliances, corporate finance and relations with investors. Roberto Drassinower, chief executive officer of SoftQuad, said, “With the XML technology market developing rapidly, SoftQuad is poised to capitalize on strategic opportunities to strengthen our market positioning. Andrew has the ideal background and experience for leading our M&A effort, having led and closed about $100 million in acquisitions for a publicly traded company as well as having headed up business development for an international Internet service provider during its high-growth phase. As CFO, David adds expertise in dealing with the financial challenges of an explosively growing company as well as fulfilling the reporting requirements for a publicly traded company. David also will support and complement Andrew in his initiatives.” Before joining SoftQuad, Muroff was director of corporate and legal development of CYBERPLEX, Inc. (CX: TSE), an international Internet professional services firm. While at CYBERPLEX, Muroff led all aspects of the company’s successful merger and acquisitions program and developed its legal documentation, systems and procedures. Previously, he was director of business development at Managed Network Systems, Inc., an international Internet Communications provider, where he was instrumental in cultivating key strategic partnerships. Mr. Muroff is a published author on e-commerce and the law. He is a member of the Michigan Bar and holds an MBA degree from the University of Windsor, a BA in Economics from the University of Western Ontario and a law degree from the Detroit College of Law at Michigan State University. Lewis has nearly 30 years of business experience including more than 15 years in the high-tech industry with specific software and Internet experience in the B2C and B2B global marketplaces. Since 1992, he has been CFO to a number of Nasdaq-listed companies, accumulating strong global experience with explosive corporate and cultural growth in the software and B2C/B2B marketplaces. Prior to joining SoftQuad, he was CFO, Corporate Secretary, and Treasurer for SUMmedia.com Inc., a publicly traded (OTCBB:ISUM), global, Internet media and marketing company in the content management applications and solutions sectors. Lewis is a Chartered Accountant and holds a Bachelor of Engineering from Dalhousie University. As CFO, Lewis succeeds David Adams, who left the Company to pursue other opportunities. As well, SoftQuad announced the appointment of two additional directors to its Board. Mr. Larry Goldberg, C.A., is Executive Vice-President and Chief Financial Officer of Pinetree Capital Corp. (CDNX: PNP). Brock Armstrong is President and CEO of DC DiagnostiCare, Inc. (TSE: DCE). About SoftQuad Software, Ltd. SoftQuad Software, Ltd. (OTC BB: SXML) is a founding member of the World Wide Web Consortium (W3C). The Company co-invented XML technology and is internationally recognized in the technical community as a developer and world leader of XML e-enabling technologies to the growing business-to-business (B2B) Internet infrastructure solutions market. SoftQuad was first to the content creation market with XMetaL, an advanced yet easy-to-use XML content creation solution which has already become the premier enabling technology for XML-based content applications in electronic publishing, e-commerce and knowledge management. SoftQuad continues to target the growing B2B marketplace with MarketAgility, a supply-side content solution that allows companies to effectively join and compete in B2B e-markets. Awards: XMetaL won the Web Techniques 1999 "Web Authoring Tool of the Year" Award; it was one of Internet Week's "Best of the Best", winning the "Most Innovative" in "Best of 1999" awards and it is also one of XML Journal's "World Class" recommendations for 2000. For more information, visit SoftQuad's web site at http://www.softquad.com - 30 - Caution Concerning Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates", "estimates", "expects", “will”, “should”, "projects", "intends", "plans", "believes" and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify such forward-looking statements. Those forward-looking statements are management's present expectations of future events. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances. SoftQuad is an early-stage growth company that operates in a highly competitive and rapidly changing environment, and its business results are dependent on numerous factors, including demand for its products and services, its ability to manage costs and generate revenues, technological developments, protection of its intellectual property rights, its ability to attract and retain key personnel, the resolution of issues concerning commercial activities via the Internet, including security, reliability, cost, ease of use and access, government regulation, risks related to international sales and potential foreign currency exchange fluctuations, economic, political and social conditions in the countries in which it operates, its ability to successfully obtain inclusion of its common stock on the Nasdaq National Market and other risks detailed from time to time in periodic reports filed by SoftQuad with the U.S. Securities and Exchange Commission and other regulatory authorities. SoftQuad’s actual results could differ materially from management's expectations because of such factors. For further information on SoftQuad Software, contact: Davud Terry ITPR (for SoftQuad Software) 416-642-6357 david@itpr.com Investor Inquiries SoftQuad Software, Ltd. 1-800-773-7317 investorinfo@softquad.com Heather Grant Account Executive ITPR 214 King Street West, Suite 216 Toronto, ON M5H 3S6 Tel: (416) 642-6353 Fax: (416)642-6361 Email: Heather@itpr.com
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