Acceleware Closes $410,000 Private Placement

CALGARY, ALBERTA : Acceleware Corp. (TSX VENTURE:AXE) is pleased to announce that it has completed a non-brokered private placement of 8,200,000 common shares at a price of $0.05 per common share for gross proceeds of $410,000 (the "Offering"). The private placement was increased from the amount disclosed in the press release of Acceleware dated December 10, 2008 from 8,000,000 common shares to 8,200,000 common shares.

The private placement is subject to final TSX Venture approval. The securities issued pursuant to the private placement are subject to a four month hold. Proceeds of the private placement will be used for general corporate purposes and to increase the Corporation's working capital.

Acceleware specializes in the development and marketing of special purpose software/hardware acceleration products used to reduce design simulation and data processing run-times of high-performance computing (HPC) applications such as cell-phone design, seismic data processing, printed circuit board design, drug discovery, photonic/communications devices design, oil reservoir simulation, lithography mask design, bio-medical imaging and others.

Acceleware products are distributed by computer-aided design (CAD) and computer-aided engineering (CAE) software companies to end-users at the world's largest organizations in a wide range of industries. In each vertical market, Acceleware's third-generation board-level and engineering workstation products accelerate simulation and processing algorithms by a factor of 10 times or more, on average, reducing runtimes from multiple hours to minutes. Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE.