Calgary, Alberta –  February 14, 2007 – Acceleware Corp. (the "Corporation" or "Acceleware") (trading symbol "AXE" TSXV) is pleased to announce that it has closed the previously announced brokered private placement of 6,153,846 units (each a Unit) at a price of $1.30 per Unit for aggregate gross proceeds of $8,000,000 (the Offering), including the full exercise of the $3,000,000 over-allotment option. Each Unit consists of one common share (a Common Share) and one-half of one common share-purchase warrant (a Warrant). Each whole Warrant is exercisable into one Common Share at a price of $2.00 per Common Share for a period of 22 months from the issuance of the Warrants. The securities issued pursuant to the Offering are subject to a statutory resale restriction period of four months and a day, which expires on June 15, 2007.

Northern Securities Inc. (Northern) acted as underwriter for the Offering. The Corporation paid Northern a cash commission of 8% of the gross proceeds and a $25,000 work fee. In addition, the Corporation issued Northern 492,308 broker warrants (being an amount equal to 8% of the number of Units sold under the Offering). Each broker warrant entitles the holder thereof to acquire one Unit at a price of $1.30 for a period of 22 months from the date of issuance of the broker warrants.

The net proceeds from the Offering will be used for the marketing, sales, and ongoing development of acceleration products for electromagnetic simulation and seismic data processing markets, as well as capital equipment, facilities, and working capital.

The completion of the Offering is subject to Exchange approval.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

This new release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About Acceleware

Acceleware (TSXV: AXE) develops and markets performance-optimized acceleration products that significantly reduce the run-times of high-performance computing (HPC) applications such as cell-phone design and seismic data processing. By leveraging the base processing power of GPUs (graphics processing units) with proprietary acceleration software, compute-intensive applications can achieve unparalleled performance and speed. Acceleware delivers processing superpower.

Acceleware is developing and selling products for the electromagnetic, energy, biomedical, pharmaceuticals, industrial and military markets. These markets share a common need; as companies continue to push the boundaries of innovation and demand faster product-development cycles for more complex products, the need for accurate and timely computer modeling and testing is steadily increasing. For more information, visit www.acceleware.com.