Calgary, Alberta –  February 2, 2007 – Acceleware Corp. (the "Corporation" or "Acceleware") (trading symbol "AXE" TSXV) is pleased to announce that it has increased the size of the unit offering (the Offering), which was previously announced on January 22, 2007, from $7,000,000 to $8,000,000. The increase to the Offering is a result of an increase to the size of the over-allotment option (the "Over-Allotment Option") granted to Northern Securities Inc. ("Northern") from $2,000,000 to $3,000,000.

Acceleware has entered into a bought deal financing agreement with Northern Securities Inc. (Northern) and Northern Financial Corporation for a private placement of units (Units) in the aggregate amount of $5,000,000. Each Unit will consist of one common share and one half of one common share purchase warrant. Each Unit will be sold at a price equal to $1.30 per Unit. Each whole warrant is exercisable into one common share at an exercise price equal to $2.00 per share for a period of 22 months from the date of issuance of the warrants. The Corporation has granted Northern the Over-Allotment Option to increase the size of the Offering by an aggregate amount of $3,000,000. The Over-Allotment Option will expire if it is not exercised at least 48 hours prior to the closing date.

In connection with the Offering, Northern will receive on closing a cash commission of 8% of the gross proceeds and a number of broker warrants equal to 8% of the number of Units sold under the Offering. Each broker warrant will entitle the holder thereof to acquire one Unit at the issue price 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.

Closing of the Offering is expected to occur on or about February 14, 2007. The completion of the Offering is subject to Exchange approval and other regulatory 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

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