Codagen Wins Investors' Choice Award at Canadian IT Financing Forum.

Business Editors

MONTREAL--(BUSINESS WIRE)--Nov. 9, 2001

Company Voted Most Compelling Investment Opportunity by

Some of the World's Leading Investors

Codagen Technologies Corp. has won an Investors' Choice Award at Canadian IT Financing Forum, Canada's largest and most prestigious venture capital showcase.

Codagen develops and markets the industry's first family of automated software development tools that enable organizations to enforce corporate standards and procedures, and provide an open approach automating the generation of all code associated with any application architecture. The Company was voted one of the most interesting investment opportunities by over 70 leading Canadian and foreign venture capital and corporate investors registered at the Forum in Vancouver on November 6 - 7, 2001.

Codagen secured top honor in the "Growth Company" category, which featured presentations from 24 fast-growing Canadian IT, software, electronics, photonics and Internet companies. These presenters were chosen-from among hundreds of applicants-based on strict criteria including a unique marketable technology or business model, a solid marketing and business plan, a strong management team, growth potential, and more.

"Codagen's win is a clear indication that the Canadian VC community thinks very highly of the company and its technology," said Peter Standeven, President of CanadaIT.com and co-founder of the Financing Forum. "The company's achievement is particularly impressive in light of the fierce competition in the 'Growth Company' category, the largest category at the Forum with 24 top presenters. Codagen joins an elite group of Investors Choice Award winners. Past winners have gone on to tremendous success securing large amounts of funding, launching successful IPOs or attracting high-level acquisitions."

"We're honored to have been selected from among a truly elite group of companies presenting in our category," said Richard Borenstein, President and CEO of Codagen. "The Financing Forum is an important gathering of top notch members of the investment community. Winning the Investors' Choice Award is a further validation of our technology and corporate direction."

The six-year-old Canadian IT Financing Forum, which brings leading investors together with Canadian IT and Internet companies, is organized twice a year by Toronto-based Macdonald & Associates Ltd., and Vancouver-based CanadaIT.com. The IT Financing Forum offers fast-growing Canadian companies in the information technology, Internet, electronics and photonics sectors an opportunity to showcase their stories and attract investment. This year's presenting companies were divided into three categories: First Look Company, Growth Company, and Showcase Company. Awards were given to the top presenting company in each category, as determined by the registered investors.

Codagen Technologies develops Gen-it(TM) Architect, a Model Driven Architecture-compliant and automated software tool that produces source code from UML modeling tools and IDE environments to generate all of the code associated with any application architecture, and up to 70% of the total application code, enabling the rapid development of e-business and enterprise applications while significantly enhancing software ROI and the effectiveness of developer resources. Codagen's offering complements the use of UML modeling tools by providing a true model driven and open approach for code generation with UML profiles for EJB, XSDL and e-business solutions, and by supporting standards like ebXML BPSS, BPML, WSFL, WSDL and BizTalk XLANG. Codagen sells Gen-it Architect for software architects, Gen-it Generator for developers, and Gen-it Solutions for developers and business analysts. The Gen-it family of tools currently generates Java, C#, VB, and XML-based languages.

About Codagen Technologies Corp.

Founded in 1999, Codagen Technologies Corp. develops and markets the industry's first family of automated software development tools that enable organizations to enforce corporate standards and procedures, and automate the generation of all code associated with the architecture of an application. Gen-it(TM), the company's revolutionary flagship product-is an architecture-centric solution that interfaces with leading UML modeling tools and IDE environments to dramatically improve development productivity throughout the application life cycle. It is the only tool currently on the market that can generate up to 100% of the code associated with any application architecture, and up to 70% of the total application code. Codagen is headquartered in Montreal, Canada. For more information about Codagen or Gen-it(TM), contact the company head office at 2075 University Avenue, Suite #1020, Montreal, Quebec, H3A 2L1, Tel: [phone], Fax: [phone], or visit the company web site at www.codagen.com.

Gen-it(TM), Generation Template, and Parameterized Architecture are trademarks of Codagen Technologies Corp. All other trademarks are the property of their respective owners.