MONTREAL, July 21 /CNW Telbec/ - TECSYS Inc. (TSX: TCS) announced today that it will not be in a position to file its Fiscal 2006 annual financial statements on July 31, 2006 as required. As previously announced on June 30, 2006, due to an interpretation of the method and timing of revenue recognition required by Statement of Position 97-2 - Software Revenue Recognition and after having consulted with its auditors, TECSYS has determined that a restatement of financial results for certain prior fiscal years may be necessary. Management is working to complete this review as expeditiously as possible and has targeted mid-August 2006 for the release of Fiscal 2006 financial results and the end of August, 2006 for the filing of Fiscal 2006 annual financial statements. As a consequence of missing the deadline, in accordance with the policies adopted by the Canadian Securities Administrators, TECSYS has filed an application to securities regulators in Canada for an order preventing certain directors, officers and other designated insiders from trading in TECSYS securities. About TECSYS ------------ TECSYS is a leading, fast-growing supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 800 mid-size and Fortune 1000 corporations in healthcare, giftware, office products, third-party logistics, and general wholesale high-volume distribution markets. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS. The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners. %SEDAR: 00010494EF