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In The Press

MadCap Software Financial Performance Exceeds Expectations

Initial Sales Momentum of MadCap Flare Drives Significant Profitability

San Diego, CA, USA – May 22, 2006 — MadCap Software, Inc. today announced that the Companys financial results for the first four months of 2006 have greatly exceeded expectations. These results were driven by the introduction of its flagship product, MadCap Flare. Flare is a new XML-based authoring tool which enables technical writers, Help authors, and other documentation professionals to keep pace with the industry evolution to XML by composing content in XML format, without requiring any knowledge of the XML language or XML programming.

Strong initial demand for MadCap Flare and its related products and services have led the Company to turn solidly profitable. Presently we are building cash, and earning in excess of 30% pre-tax, said Anthony Olivier, CEO. It is a challenge to grow the team fast enough to handle the increased demand for our products, he added.

The strong initial adoption of Flare across the Help authoring community is a true testament to our significant progress in leading the technical communications industry, said Mr. Olivier. The Companys increasing pace of profitability reinforces our customers confidence in our revolutionary products and our long-term commitment to changing the industry.

We have an extremely talented and aggressive development team dedicated to creating future-proof XML based products, said Bjorn Backlund, CTO of MadCap Software. The release of Version 2, scheduled this September, will make Flare the first true, single-sourcing, XML-based tool by adding Adobe® Framemaker® import/export to the existing Microsoft Word import/export currently in the tool.

Upcoming product releases from MadCap Software will include MadCap Blaze, an XML-based alternative to Adobe® Framemaker® that is specifically designed for easily producing lengthy documents for print such as books, manuals and illustrated guides using the latest technological advances available. Like Flare, Blaze will be 100% XML and Unicode-based. Users will be able to import and export Microsoft Word ((NasdaqNM: MSFT) and Framemaker® documents and export to PDF and XPS (XML Paper Specification), Microsofts new portable document format that will compete with Adobes PDF format.

MadCap also recently announced the upcoming release of MadCap Mimic, a cutting-edge software simulation tool that lets users quickly and easily create movies of software. This product is ideal for use in sales and marketing, technical support, eLearning or Help systems. Mimic is designed to work seamlessly with Flare.

With the continued development of MadCap Flare, and the introduction of MadCap Blaze and MadCap Mimic, MadCap Software believes they will have created the dream suite for the technical writing and Help authoring community.

About MadCap Software

MadCap Software is a trusted resource for thousands of companies around the globe for single-source, multi-channel authoring and publishing solutions designed to streamline the process of developing and delivering training content, learning and development programs, technical documentation, online Help, knowledge bases, and more. From authoring, publishing and translation, to cloud-based content management system, to contribution and review in the cloud, you can streamline content delivery and manage the entire content development lifecycle with MadCap Software. MadCap Software’s services include product training, consulting services, translation and localization, and an advanced developer certification program. Headquartered in San Diego, California, with offices in Austin, TX, MadCap Software is home to some of the most experienced software architects and product experts in the content development industry.

MadCap Software, the MadCap Software logo, and MadCap Flare, are trademarks or registered trademarks of MadCap Software, Inc., in the United States and/or other countries.