Progress Software Corporation, a provider of leading application infrastructure software to develop, deploy, integrate and manage business applications, is expanding its product development centre in Newfoundland and Labrador, creating additional software engineering jobs as well as new technology-oriented educational opportunities.

Progress Software intends to expand its workforce in this province by 50 per cent over the next five years by adding 10 new software engineering positions. The Provincial Government, through the Department of Business, is facilitating the investment by Progress in its St. John�s operation by providing a contribution, through the province�s Business Attraction Fund, of $325,000, tied to the company achieving hiring targets. Progress has also committed to explore opportunities to offer computer science scholarships at the post-secondary level.

"Progress Software Corporation is a company that is leading the way in delivering advanced IT integration technologies and solutions to organizations around the world," said the Honourable Paul Oram, Minister of Business. "The fact that the company selected Newfoundland and Labrador as a location of choice to build upon its software development operations is evidence of the opportunity that exists here for growing technology businesses."

Headquartered in Bedford, Massachusetts, U.S.A. with over 1,800 employees, Progress Software Corporation is a worldwide leader in application infrastructure software with products deployed at over 60,000 organizations in over 140 countries. Progress partners with more than 2,000 independent software vendors, who have developed over 5,000 applications using its technologies.

"Progress is always searching for the best talent to help us create best-in-class technologies and to help grow our business to meet the increasing demand for our technology," said Ellen Daniels, vice president, Product Operations and Planning, Progress Software. "As a global company, we are constantly exploring new ways to expand our footprint around the world where the best talent resides. Partnering with the Department of Business in Newfoundland and Labrador provides us with an opportunity to grow our global employee base while making a positive impact on local communities by improving educational opportunities as well as the local economy."

Progress provides infrastructure software for a wide range of IT applications across a diversity of industries, such as telecommunications, financial services, retail, manufacturing and government. The company�s products enable multiple computer operating systems to communicate with one another in a networked environment. This minimizes the need for customers to invest in significant replacement or upgrade of IT systems.

"By supporting Progress� growth, our government is demonstrating its commitment to partnering with companies to increase inward investment and broaden the province�s business base in key sectors," said Minister Oram. "The company�s expansion is an indication that Newfoundland and Labrador can offer what the IT industry is looking for."

- 30 -