Softchoice Signs Increased Secured Credit Facilities



    TORONTO, Feb. 2 /CNW/ - Softchoice Corporation (TSX: SO) (Softchoice or
"the Company") is pleased to announce that it has entered into long-term
credit agreements with Bank of America, N.A. and HSBC Capital (Canada) Inc. to
provide Softchoice with access to up to C$140 million in debt financing,
replacing its existing Asset-Backed Loan (ABL) and short term debt.

    
    The new capital structure includes:

    -  a three-year C$115 million revolving ABL facility funded by:
       -  Bank of America, as agent, with syndicate participation from the
          Bank of Montreal and TD Asset Finance
    -  a five-year C$25 million term loan funded by HSBC Capital (Canada)
       Inc. with participation from Ontario Teachers' Pension Plan.
    

    A portion of the proceeds from this financing has been used to repay the
Company's previous credit facilities, including a US$45.0 million term loan
and US$21.3 million outstanding under the revolving credit facility. On
closing, the ABL facility has more than $40 million of unutilized capacity in
its credit lines.
    "These expanded credit facilities provide Softchoice with a cost
effective structure to meet the Corporation's capital requirements," noted
Anne Brace, Softchoice's Chief Financial Officer. "With these agreements in
place, we can continue to pursue our long term growth objectives with the
knowledge that the capital needed to fund our success is in place."

    Softchoice Announces Fourth Quarter Earnings Conference Call Details

    Softchoice will be hosting a conference call to discuss its 2008 fourth
quarter results at 11 a.m. ET on February 11th, 2009.
    David MacDonald, Softchoice's President and CEO, and Anne Brace,
Softchoice's Chief Financial Officer, will host the call. The conference call
will begin with a brief presentation followed by a question-and-answer
session.

    To participate in the conference:

    Conference ID: 7548147
    Local/International: 416-849-6186
    North American Toll-Free: 866-443-4184

    To view the Web presentation:
http://events.snwebcastcenter.com/softchoice/20090211/

    To ensure participation, please dial in five to 10 minutes prior to the
start of the conference at 11 a.m. ET.
    For those unable to attend the call, a link will be made available on the
Softchoice website to an archived web and audio version on February 12th,
2009.

    About Softchoice

    As one of North America's leading providers of technology solutions and
services, Softchoice helps businesses and organizations of all sizes to
select, acquire and manage their software and hardware technology resources.
Softchoice offers a full range of capabilities, including face-to-face
consultations and IT asset management services designed to help customers save
time, money and risk in IT procurement. Softchoice currently has 973 employees
operating from 45 branch offices located in major cities across the U.S. and
Canada. Softchoice stock is listed on the Toronto Stock Exchange (TSX) under
the trading symbol "SO." The Common Shares of Softchoice are not registered
under the U.S. Securities Act of 1933 and are not publicly traded in the
United States.

    Forward-Looking Statements

    This press release contains forward-looking statements that involve risks
and uncertainties. These forward-looking statements relate to, among other
things, the Company's intention to repay its outstanding credit facilities and
other expectations, intentions and plans contained in this press release that
are not historical fact. When used in this press release, the words "intend",
"anticipate," "expect", "will' and similar expressions generally identify
forward-looking statements. These expectations are subject to a number of
risks and uncertainties, including the current economic credit environment and
other risks and uncertainties, many of which are set out or incorporated by
reference in the Company's latest Annual Information Form. Due to the many
risks and uncertainties, Softchoice cannot assure that the forward-looking
statements contained in this press release will be realized.





For further information:

For further information: Media Contact: Eric Gardiner, Manager of
Communications, (416) 523-0332, eric.gardiner@softchoice.com; Investor
Contact: Anne Brace, Chief Financial Officer, Softchoice Corporation, (416)
588-9986, investor_relations@softchoice.com

Organization Profile

Softchoice Corporation

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