EMLOUNGE Electromagnetic Simulator Now 20 Times Faster With Acceleware and EMAG Technologies Partnership

 Calgary - June 16th, 2006 - Acceleware Corp. (the 'Corporation', trading symbol 'AXE' on TSXV) is pleased to announce EMAG Technologies Inc. (EMAG) as a partner. EMLounge™ can now utilize the Acceleware FDTD product family yielding a 20 times speed up, on average, over traditional high-end CPU's. The ability to perform faster simulations allows organizations to cut costs and dramatically increase productivity, which has a direct, positive impact on their ROI. Acceleration enables both faster time-to-market and the ability to optimize designs, improving the overall product and shortening the development cycle. "We think that Acceleware's products will help us grow our existing business relationships and attract new customers" states Dr. Kaz Sabet, President of EMAG Technologies Inc. Ryan Schneider, CTO of Acceleware adds: "EMAG is a vibrant company with innovative products that are capable of solving the most complicated simulation problems. Together, EMAG and Acceleware can deliver turn-key, hardware-accelerated simulation solutions to key EMAG customers in the industrial and defense sectors."

About Acceleware

Acceleware develops and markets hardware accelerators used to reduce the run-times of high performance computing (HPC) applications such as cell-phone design, seismic data processing, nano-materials research, protein folding and drug discovery, reservoir simulation, lithography mask design, and others.

Acceleware products are distributed by Computer Aided Design (CAD) and Computer Aided Engineering (CAE) software companies to end-users at the world's largest companies in a wide range of industries. A simulation that would have otherwise taken eight hours, may only take 15 minutes with Acceleware's v1.5 generation of products. The v2.0 generation will be released in the summer of 2006. Acceleware has identified the following markets for its technology: electromagnetics; energy; biomedical; fluid dynamics; molecular chemistry; industrial; and military.

About EMAG Technologies Inc

EMAG Technologies Inc. is a leader in innovative RF solutions. emagware.com is a division of EMAG Technologies Inc. dedicated to development, marketing and distribution of advanced computer aided design tools for electromagnetic and RF applications. Since 1994, EMAG Technologies Inc. has been providing novel software and hardware solutions to the Government and Industry. The company provides a full range of RF design, fabrication and testing services to customers such as the U.S. Department of Defense, NASA, Michelin, Ford, Raytheon, Rockwell Collins, BAE Systems, etc. Spun off in 2006, emagware.com now offers a suite of commercial RF simulation tools with full technical support backed by a dynamic team of practicing engineers with expertise in design, fabrication, prototyping, test and evaluation of RF circuits and systems.

Forward Looking Information & Safe Harbour Statement

Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. These may include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the high performance computing industry. These risks and uncertainties include, but are not restricted to, continued increased demand for the Corporation's products, the Corporation's ability to maintain its technological leadership in the field of hardware acceleration of electromagnetic simulations, the Corporation's ability to attract and retain key employees, defend itself against any future patent infringement claims, and the availability of key components.

Reader Contact:
Charlee Forbrigger, Acceleware Corp.
+1 (403) 249-9099 ext. 287, charlee.forbrigger@acceleware.com