June 11.08 - Acceleware Announces Short Form Prospectus Offering

(Calgary, Alberta June 11, 2008) Acceleware Corp. (the “Corporation” or “Acceleware”) (trading symbol “AXE” TSXV), is pleased to announce that it has entered into an engagement letter with Versant Partners Inc., as lead agent on behalf of a syndicate of agents including, Caris & Company, Blackmont Capital Inc. and Northern Securities Inc. (collectively, the “Agents”) to sell by way of a best efforts short form prospectus offering of a minimum of 18,072,290 units of the Corporation (each a “Unit”) and a maximum of 30,120,482 Units at a price of $0.83 per Unit for minimum gross proceeds of $15,000,000 and maximum gross proceeds of $25,000,000 (the “Offering”). The Corporation has filed and obtained a receipt for a preliminary short form prospectus in respect of the Offering with the securities commissions of Alberta, British Columbia, Saskatchewan, Manitoba and Ontario. Acceleware intends to use the proceeds of the Offering for general working capital and expansion of its product line and sales channels, as more particularly set out in the preliminary prospectus dated June 11, 2008.

Each Unit will be comprised of one common share of the Corporation (“Common Share”) and one-half of one common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $1.30 per Common Share. The Warrants will be exercisable for a period of 24 months following the closing of the Offering. The Units will be issued from treasury and subject to regulatory approval and will be offered on a ‘best efforts’ basis by way of a short form prospectus in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.

The Agents shall receive compensation comprised of cash and broker warrants upon closing of the Offering. The Offering is scheduled to close on or about June 26, 2008, or such other date as the parties may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.

About Acceleware
Acceleware develops and markets solutions that enable software vendors to leverage heterogeneous, multi-core hardware environments without having to rewrite their applications for parallel processing. This acceleration abstraction technology results in end-users achieving significant computing speed-ups and migrating vendor applications from single-core processing to multiple-core CPUs, GPUs or other acceleration products. Acceleware solutions are deployed by companies worldwide to accelerate computer simulation and data processing applications in areas such as electromagnetics, oil & gas, medical and security imaging, industrial and consumer product design, financial, and academic research. Acceleware's third-generation multi-board GPU solutions can accelerate simulation and processing algorithms by over 35 times, reducing data processing from multiple hours to minutes.

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For more information, please contact:
Acceleware Corp.
Norman Tsui
Chief Financial Officer
(403) 444-7778
Email: investor@acceleware.com
Website: www.acceleware.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This document may contain "forward-looking information". These statements relate to future events or the Corporation’s future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, projections of market prices and costs; potential benefits to Acceleware customers, including cost savings and increases to cash flow and productivity; advantages to using Acceleware’s products and services; ease and efficiency of implementing Acceleware’s products and services; supply and demand for Acceleware’s primary products and services; and expectations regarding Acceleware’s ability to raise capital and to protect, continually exploit and continually develop its products and services, as well as those factors discussed in the section entitled “Risk Factors” in the Corporation’s Annual Information Form dated May 26, 2008 and in the "Risk Factors" section of the preliminary prospectus relating to the Offering. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.