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Preo Software Announces License Agreement with Xerox - Nov 25, 2009

Calgary, Alberta ((October 7, 2009)) - AVAC investee Preo Software announced earlier this week that it has entered into a licensing agreement with Xerox Corporation (NYSE: XRX). Using Preo’s proprietary technology, the companies will jointly develop the industry’s first assessment tools and software products that measure color coverage on each page, real time, for Xerox’s award-winning ColorQube™ 9200 Series multifunction printer (MFP).

Calgary, Alberta ((October 7, 2009)) - AVAC investee Preo Software announced earlier this week that it has entered into a licensing agreement with Xerox Corporation (NYSE: XRX). Using Preo’s proprietary technology, the companies will jointly develop the industry’s first assessment tools and software products that measure color coverage on each page, real time, for Xerox’s award-winning ColorQube™ 9200 Series multifunction printer (MFP).

“This license agreement allows Preo Software to showcase its expertise in print management solutions” said Gary McCone, president and CEO of Preo Software Inc. “Both companies are committed to helping customers make informed and responsible print decisions.”

Already available on Xerox’s Web site at http://www.xerox.com/FinallyColorIsLess is a new tool developed as part of the agreement. A document analyzer tool allows users to upload their own sample documents to assess the cost of their color prints on a ColorQube MFP.

Also available is a deviceagnostic on-site assessment tool that measures the color coverage on customers’ actual documents without disrupting their existing print infrastructure in any way. Because the software is loaded on a server or desktop, users are not required to reroute prints or use different drivers to use the tool.

“Preo Software’s unique coverage-based approach, tied to their end-user focus on print behavior management, was the competitive differentiation we were looking for,” said David Bates, vice president, Office Marketing Programs, Xerox Corporation. “These new tools will help educate customers on the cost-savings benefits of our solid ink product portfolio.”

About Preo™ Software
Founded in 2000 and headquartered in Calgary, Alberta, Canada, Preo Software develops and sells print management tools that help Fortune 1000 companies educate their employees to the true cost of print. The company’s flagship product Printelligence™ is the only web-based print management system that adapts itself to the organization’s printing behavior thanks to a patent pending adaptive rules engine that modifies the messaging delivered to end-users at the desktop based on individual behavior.

About AVAC Ltd.
AVAC Ltd. is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion of Alberta’s value-added agri-business, ICT, life sciences, and other industrial technology sectors, and is also Alberta’s leading fund-of-fund investor in early stage venture capital. Created in 1997, with the support of the Alberta and Canadian Governments, AVAC has been able to invest in and provide guidance to more than 110 early-stage companies, 38 agriculture research programs and projects, and 3 venture capital funds. To date 35 of AVAC’s portfolio companies have reported in excess of $379 million in aggregate commercial sales that can be attributed to the investments made in them by AVAC.

For further information please contact:

Preo Software Inc.
Randy Coates, VP Operations
T: (403) 265-0556 x3261
F: (403) 210-8299
E-mail: randy.coates@preosoftware.com
Website: www.preosoftware.com

AVAC Ltd.
Ross Bricker, President and CEO
T: (403) 274-2774
F: (403) 274-0101
Email: rbricker@avacltd.com
Website: www.avacltd.com