ZI CORPORATION
NEWS RELEASE

For immediate release (Calgary, Alberta)
April 21, 1999

ZI CORPORATION COMPLETES PRIVATE PLACEMENTS

 

Zi Corporation (TSE: ZIC; NASDAQ: ZICA) announces that it has closed private placements in the amount of approximately CAD$3.7 million. Pursuant to the private placements, Zi Corporation has issued 1,950,000 Units at US$1.25 per Unit. Each Unit consists of one common share and one common share purchase warrant, where one warrant is exercisable into one further common share upon payment of US$1.75 per share for a period of 36 months. Proceeds from the private placements will be used by Zi Corporation to finance ongoing operations.

The securities described in this announcement have not been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States. Such securities may not be offered or sold in the United States or to a U.S. person, as that term is defined in Regulation S under the 1933 Act, nor may the warrants be exercised in the United States or by or on behalf of a U.S. person, absent registration under the 1933 Act and applicable state securities laws or the availability of an applicable exemption from such registration.

Zi Corporation’s goal is to make modern electronic technology more accessible to people in a way that is consistent with their language and culture. By connecting technology and language, Zi Corporation brings smart text input to the mass market for devices such as mobile phones, TV set top boxes, computers and information appliances.

NEITHER THE TORONTO STOCK EXCHANGE NOR NASDAQ HAVE APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Zi Corporation

Carol Kim
Manager, Investor/Media Relations
(403) 233-8875
website: http://www.zicorp.com/