MSC Millennium Silver Corp

Meridex Software Corporation (TSX VENTURE:MSC), a leading provider of IP
security and facilities management software solutions, today announced its
financial results for the third quarter of fiscal 2008.


Third quarter fiscal 2008 highlights:

- Gross profit increased 140% year-over-year

- Cost of sales decreased 36% year-over-year

- Operating costs decreased 12% year-over-year

- Loss from operations decreased 52% year-over-year

- Newly acquired security business gains several customer wins

- $298,042 raised in private placement

- Signed the largest facilities management software deal in the Company's history

"These results are very encouraging," said Matt Dion, President and CEO, Meridex
Software Corporation. "The changes we have made to the leadership team and the
direction we are moving towards licensing our own intellectual property will
allow us to drive growth and shareholder value."


Revenues for the three month period ended March 31, 2008 were $443,061
representing a decrease of 12% from revenues of $503,892 for the same period in
the previous year. Revenues for the nine month period ended March 31, 2008 were
$1,275,325 compared to $1,379,896 for the same period in the previous year,
which was a decrease of 8%. The decrease in revenues was due primarily to lower
revenues in the Company's IT services division, which were partially offset by
higher revenues in its software division.


Cost of sales for the three month period ended March 31, 2008 was $279,523,
representing a decrease of 36% compared to $435,663 for the same period in the
previous year. Cost of sales for the nine month period ended March 31, 2008 was
$924,708 compared to $1,434,193 for the same period in the previous year, which
was a decrease of 36%. The decrease in cost of sales was primarily due a shift
towards higher margin business such as sales of software.


Operating expenses for the three month period ended March 31, 2008 were $285,929
compared to $325,140 in the same period in the previous year, which was a
decrease of 12% year over year. Operating expenses for the nine month period
ended March 31, 2008 were $867,486 compared to $1,112,890 in the same period in
the previous year, which was a decrease of 22% year over year.


For the three month period ended March 31, 2008, the Company reported a loss of
$193,223 or $0.00 per share compared to a loss of $263,385 or $0.01 per share
for the same period in the previous year. For the nine month period ended March
31, 2008, the Company reported a loss of $704,214 or $0.02 per share compared to
a loss of $1,182,832 or $0.04 per share for the same period in the previous
year. The decrease in loss is primarily due to the reduction in cost of sales
and streamlining of operations.


Meridex also announced today that it has restated its financial statements for
its second quarter fiscal 2008 due to an error in the accounting for the
acquisition of Savicon, Inc. and stock option expense in the quarter ended
December 31, 2007. The restated financials show a 19% increase in total assets,
a 1% decrease in total liabilities and a 42% decrease in net loss.


ABOUT MERIDEX

Meridex Software Corporation is a leading provider of IP security and facilities
management software solutions. Meridex enables educational institutions,
government, hospitals, retail and corporate enterprises to manage, monitor, and
optimize security and facilities management systems. Specializing in
highly-integrated building security, camera monitoring, HVAC and lighting
controls that operate based on industry standards, Meridex is developing
intelligent IP surveillance and business optimization solutions to enable
real-time monitoring systems through wireless networks.


(C) 2008 Meridex Software Corporation. Meridex and the Meridex logo are
trademarks or registered trademarks of Meridex Software Corporation. All other
trademarks are the property of their respective owners.


Forward Looking Statements

This discussion may contain certain forward-looking statements reflecting the
Company's current expectations and estimates about the markets in which the
Company operates and management's beliefs and assumptions regarding these
markets. Investors are cautioned that all forward -looking statements involve
risks and uncertainties, including, without limitation, changes in market and
competition, technological and competitive developments, potential downturns in
general economic conditions, and the potential impact of any mergers,
acquisitions or other business combinations or divestitures that may be
announced or completed after such statements are made. Additional information on
these and other potential factors that could affect the Company's financial
results are included in this discussion and in documents filed from time to time
with the provincial securities commissions in Canada.

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