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MGI Software Issues Comment on Falling Stock Price

Press release from the issuing company

TORONTO, ON -- February 21, 2001 -- MGI Software (MGI:TSE) today is providing comments on today’s share trading. Anthony DeCristofaro, president and CEO, MGI Software said, “Management is not aware of any material change in the business of the Company which would have caused the recent slide in the Company’s share price.” The Company plans to report its fourth quarter and year-end fiscal 2001 results on Tuesday, March 27, 2001 before the market opens.

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