Teranet Acquires Key Dye & Durham Operations

    Delivering on Vision to Become Supplier of Choice to the Canadian Legal

    TORONTO, Sept. 15 /CNW/ - Teranet today announced that Teranet
Enterprises Inc. has acquired the Ontario component of the search and
registration and legal corporate supplies business of Dye & Durham, a member
of The Cartwright Group Ltd. Dye & Durham, established in 1875, is one of the
best-known and longest-standing suppliers to the Canadian legal market.
    "By bringing together Teranet's expertise in the delivery of electronic
services with Dye & Durham's breadth of corporate supplies and services and
exceptional customer care, Teranet is solidifying its position as the supplier
of choice for the Canadian legal market," said Aris Kaplanis, President and
Chief Executive Officer. "This accretive acquisition extends Teranet's
offering to law practices and increases our already strong presence on the
legal desktop. It also diversifies our revenue, expands our opportunities
across Canada, increases our customer base among different practice areas and
strengthens our potential offering to other core markets."
    The acquisition will enable Teranet's customers to perform a broad array
of searches and registrations - at both the federal and provincial level
across Canada - relating to statuses of business entities (such as
incorporations, corporate and partnership status searches and searches of
bankruptcy and litigation/court filings), business names (including NUANS(R)
name searches, reports and reservations), asset ownership (such as motor
vehicle registration and insurance searches as well as trademark and patent
searches) and a variety of asset encumbrances (such as searches under the
Personal Property Securities Act, the Corporate Securities Registration Act,
the Bank Act and bulk sales). Dye & Durham is also Canada's premier
distributor of legal products such as minute books, corporate seals, and other
corporate documents.
    The addition of these services is a natural evolution of Teranet's search
and registration services beyond real estate in Ontario and into other
solicitor practice areas nationally. Teranet's comprehensive offering to the
legal community now includes: the newly broadened search and registration
services; workflow and file management software for business incorporation and
corporate records, real estate transactions and estates administration; and
specialty corporate supplies.
    Teranet's strong customer relationships in the legal market and its
ability to deliver fast, efficient and highly secure electronic services
present good opportunities to build the acquired businesses.
    "Teranet welcomes the valued Dye & Durham employees who are so important
to maintaining the high service level and experience their customers have come
to expect," said Mr. Kaplanis. "We are extremely pleased to have the
opportunity to acquire these components of Dye & Durham, which is renowned for
its outstanding service and long history."

    About Teranet

    Teranet offers e-services to the legal, real estate, government,
financial and healthcare markets. Teranet provides exclusive access to
Ontario's Electronic Land Registration System ("ELRS"), enabling customers to
conduct electronic registrations as well as title and writ searches relating
to real property. Teranet has also leveraged its core competencies to create
electronic service offerings in complementary areas. Teranet's comprehensive
products and services include property information, transaction management,
collateral risk management, geospatial information, workflow software and
enterprise solutions. Teranet Income Fund units are listed on the Toronto
Stock Exchange under the symbol TF.UN. For more information about Teranet,
visit www.teranet.ca.

    Forward-Looking Statements

    This news release contains statements that, other than statements of
historical fact, may be forward-looking statements about the objectives,
financial condition and results of operations of the Fund. These statements
are forward-looking and reflect management's current views and are based on
certain assumptions and expectations. Actual results could be materially
different from expectations if known or unknown risks affect the business, or
if estimates or assumptions turn out to be inaccurate. No forward-looking
statement is a guarantee of future results. Investors are cautioned not to
place undue reliance on such forward-looking statements. Forward-looking
statements do not take into account the effect that transactions or
non-recurring items announced or occurring after the statements are made may
have on the business. Teranet disclaims any intention or obligation to update
any forward-looking statement even if new information becomes available, as a
result of future events or for any other reason, except as required by law.
These statements are subject to a number of risks described in the Risk
Factors section of the last quarter's MD&A, which is available on the Teranet
site at www.teranet.ca or at www.sedar.com. Risk Factors may cause actual
results to differ materially from those contained in forward-looking

For further information:

For further information: Tanis Robinson, Manager, Investor Relations,
(416) 643-1096, tanis.robinson@teranet.ca

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