April 15, 2003 - Company Update Vertigo Software Corp. ("Vertigo" or the "Corporation") has presented a reorganization plan to the TSX Venture Exchange and is pleased to announce that the Exchange has accepted in principle the plan as being sufficient to transform Vertigo's status from inactive to active. The principal features of the reorganization are as follows: 1. Approximately $1,255,622 in debt will be converted into 12,556,221 Series 1, Class B Preferred shares (the "Preferred Shares"). Each Preferred Share is convertible at the option of the holder into one common share, is entitled to dividends if, as and when declared by the Board of Directors and is redeemable at the option of Vertigo at a price per share of $0.10 plus 6% per annum. Approximately $471,000 of the debt that is being converted to equity is owed to D.S. Management Ltd. ("DSM"), a company wholly-owned by Mr. Donald Sheldon, a director and the President of Vertigo. 2. DSM has entered into an agreement under which it has agreed to make available to the Corporation a revolving line of credit of up to $250,000, with draws to be made on an as-needed basis. Advances will bear interest at a rate per annum of prime plus 1%, and will be due and payable on December 31, 2005. At the request of DSM, the Corporation will secure its obligations under the line of credit agreement by granting a general security interest in favour of DSM. 3. The Corporation's current liabilities have been reduced by $805,748 by extending the maturity date of those liabilities to July 31, 2004 ($696,043) and December 12, 2005 ($109,705), respectively. 4. Digital Accelerator Corporation ("DACCEL") is indebted to the Corporation in the amount of approximately $355,000. If Vertigo does not acquire 50% of the outstanding shares of DACCEL on or before October 31, 2003, DSM has agreed to accept an assignment of the DACCEL debt to Vertigo as payment in full of approximately $355,000 owing by Vertigo to DSM. All aspects of the reorganization have been completed except for the shares for debt transaction. The Exchange has given the Corporation until April 30, 2003 to complete the reorganization, a deadline the Corporation expects to meet. On Behalf of the Board of Directors Signed//Donald R. Sheldon Donald R. Sheldon President