CALGARY, Alberta – July 23, 2012 – Acceleware® Ltd. (TSX-V: AXE) (the “Company”) a leading developer of high performance computing applications, today announced that Heather Stubbs has resigned as Chief Financial Officer. “On behalf of management and the board of directors I would like to thank Heather for her service during her time with Acceleware and wish her well in her future endeavours,” said Geoff Clark President and CEO of Acceleware.

Ms. Stubbs is leaving the Company to pursue a full-time position. Prior to her resignation Ms. Stubbs had been employed by the Company on a part-time basis. Geoff Clark will act as interim Chief Financial Officer until such time as a new CFO can be appointed.

About Acceleware

Acceleware develops and markets high performance computing (HPC) software solutions for the engineering and energy industries. These solutions allow customers to speed-up simulation and data processing algorithms, benefitting from HPC technologies such as multi-core CPUs and massively parallel many-core GPUs. Acceleware software, specialized HPC training and consulting services are deployed by companies worldwide such as Boston Scientific, Samsung, LG, Kodak, General Mills, Nokia, RIM, Medtronic, Hitachi, FDA, Mitsubishi, Sony Ericsson, Fugro, MicroSeismic and Rock Solid Images to speed up product design, analyze data and make better business decisions.

Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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