Hummingbird Communication Ltd. $90 M Offering of Common Shares

On December 23, 1999, Hummingbird Communications Ltd. (“Hummingbird”) filed a (final) prospectus in Canada relating to the issue and sale of 2,000,000 common shares of Hummingbird at $45 per share for aggregate gross proceeds of $90,000,000. The offering, which was led by Scotia Capital Inc., also included syndicate members Nesbitt Burns Inc., CIBC World Markets Inc., Griffiths McBurney & Partners, Merrill Lynch Canada Inc. and RBC Dominion Securities Inc.

Legal advice was provided to Hummingbird by Connie Sugiyama, Greg HoYuen, David Coultice and Jennifer A. Mazin of Fasken Martineau DuMoulin, and to the underwriters by Deborah Alexander, Dale R. Ponder and Camilla Mackenzie of Osler, Hoskin & Harcourt LLP.

A portion of the net proceeds of the offering will be used by Hummingbird to repay in full a credit facility which was entered into in connection with Hummingbird’s acquisition of PC DOCS in June 1999. The balance of proceeds will be used for general purposes including possible future acquisitions.

Hummingbird is a computer software development company that designs, manufactures and markets enterprise software solutions, including network connectivity, data integration and reporting solutions, document and knowledge management solutions, enterprise information portals and analytical applications.

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Dale R. Ponder David J. Coultice Gregory Ho Yuen Constance L. Sugiyama Deborah M. Alexander Jennifer A. Mazin