Acceleware announced that on September 2, 2011 it settled outstanding indebtedness of $70,775.90 through the issuance of common shares of the Company ("Common Shares") at deemed prices of $0.05 per Common Share (the "Debt Settlement"), subject to TSX Venture Exchange final approval. The outstanding debt is comprised of deferred salaries to officers and other management. A total of 1,415,518 Common Shares were issued under the Debt Settlement. The Common Shares are subject to a four month hold period that expires on January 6, 2012.