BASWARE CORPORATION STOCK EXCHANGE RELEASE 17 February 2011 AT 16:00 DECISIONS OF THE ANNUAL GENERAL MEETING OF BASWARE CORPORATION The Annual General Meeting of Basware Corporation held on 17 February 2011 adopted the annual accounts and the consolidated annual accounts for the financial period ended on 31 December 2010. The members of the Board of Directors as well as the CEO were discharged from liability for the financial period ended on 31 December 2010. The Annual General Meeting resolved in accordance with the proposal of the Board of Directors to distribute a dividend of EUR 0.40 per share for the year 2010. The record date for the dividend is 22 February 2011 and the dividend will be paid on 1 March 2011. The Annual General Meeting decided the number of members of the Board of Directors to be five. Mr. Hannu Vaajoensuu, Mr. Sakari Perttunen, Mr. Pentti Heikkinen, Ms. Eeva Sipilä and Mr. Ilkka Toivola were elected as members of the Board of Directors. The Annual General Meeting decided that the remuneration for the members of the Board of Directors will be paid as follows: members EUR 27,500 per annum, vice chairman EUR 32,000 per annum and chairman EUR 55,000 per annum. In addition each member shall receive EUR 340 per attended meeting. Out of the annual remuneration to be paid to the Board members, 40 per cent of total gross compensation amount will be used to purchase Basware Corporation's shares in public trading through NASDAQ OMX Helsinki Ltd. However, this only concerns Board members whose ownership of Basware Corporation is less than 5.000 shares. The purchase of shares will take place as soon as possible after the Annual General Meeting. Shares received as remuneration may not be sold or otherwise transferred during a period of two years. The restriction does not apply after a person is no longer a member of the Board of Directors. Ernst & Young Oy, Authorized Public Accountant, was elected as the company's auditor, Mr. Heikki Ilkka, Authorized Public Auditor, as the principally responsible auditor of the company. Ms. Terhi Mäkinen, Authorized Public Auditor, was elected as the vice auditor of the company. It was decided to pay the auditor's remuneration according to reasonable invoices approved by the company. Authorizing the Board of Directors to decide on the repurchase of the company's own shares The Annual General Meeting decided to authorize the Board of Directors to decide on repurchase of company's own shares in accordance with the proposal of the Board of Directors. Based on the authorization, the Board of Directors may repurchase a maximum of 1,160,000 company's own shares otherwise than in proportion to the holdings of the shareholders using the non-restricted equity at the market price of the shares on the NASDAQ OMX Helsinki Ltd at the time of the acquisition. The shares shall be repurchased to be used as consideration in possible acquisitions or in other arrangements that are part of the company's business, to finance investments, as part of the company's incentive program, or to be retained, otherwise conveyed or cancelled. The authorization to repurchase the company's own shares is valid until 31 March 2012. Authorizing the Board of Directors to decide on share issues as well as the issuance of options and other special rights entitling to shares The Annual General Meeting decided to authorize the Board of Directors to decide on issuing new shares and/or conveying the company's own shares held by the company and/or granting special rights referred to in Chapter 10, Section 1 of the Finnish Companies Act in accordance with the proposal of the Board of Directors. New shares may be issued and the company's own shares held by the company may be conveyed to the company's shareholders in proportion to their current shareholdings in the company or by means of a directed issue, waiving the pre- emptive rights of the shareholders, if there is a weighty financial reason for the company to do so, such as using the shares as consideration in possible acquisitions or in other arrangements that are part of the company's business, financing investments or using the shares as part of the company's incentive program. New shares may be issued and the company's own shares held by the company may be conveyed either against payment or for free. A directed share issue may be free only if there is an especially weighty financial reason both for the company and with regard to the interests of all shareholders in the company. The new shares may also be issued in a free share issue to the company itself. Based on the authorization, the Board of Directors may decide to issue a maximum of 2,320,000 new shares and convey a maximum of 1,250,300 of the company's own shares held by the company. The number of shares to be issued to the company itself together with the shares repurchased to the company on basis of the repurchase authorization shall not exceed 1,160,000 shares. The maximum number of new shares that may be subscribed by virtue of the special rights granted by the company is 1,000,000 shares in total which number shall be included in the abovementioned maximum number of new shares. The authorization is valid until 31 March 2012. First meeting of the Board of Directors In its first meeting held after the Annual General Meeting, the Board of Directors elected Hannu Vaajoensuu as chairman and Sakari Perttunen as vice chairman of the Board. BASWARE CORP. Hannu Vaajoensuu For more information, please contact: Chairman of the Board Hannu Vaajoensuu, Basware Corp., tel. +358 40 501 8250 Distribution: Helsinki Stock Exchange Principal media www.Basware.com [HUG#1490143]