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Advanced Process Control for the Refining and Petrochemical Industry

Matrikon announces $10 million financing
Not for distribution to U.S. news wire services or dissemination in the U.S.

Edmonton, Alberta - September 10, 2003 - The Board of Directors of Matrikon Inc. (TSX: MTK) is pleased to announce that it has entered into a underwritten private placement agreement with a syndicate of underwriters led by Paradigm Capital Inc. and including Canaccord Capital Corporation (collectively the "Underwriters"). Under the agreement, the Underwriters will purchase 4,545,455 Common Shares which will be issued and sold by the Company at a price of CDN$2.20 per Common Share, resulting in total gross proceeds of CDN$10.0 million. The offering is expected to close on or about September 24, 2003.

The net proceeds are intended to be used to fund growth and enable the Company to consider investments or acquisitions from time to time in one or more new technologies, products or businesses that expand, complement or are otherwise related to the Company's current business and products.

The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals.

"We are pleased with the interest the investment community has shown in Matrikon and are happy to welcome new institutional investors on board," stated Hugh Bolton, Chairman of Matrikon. "Our strengthened balance sheet will position the company to take advantage of future growth opportunities."

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Matrikon Inc.
Matrikon is a leading provider of technology that delivers solutions for industrial agility and through innovation, is shaping the future of industrial plants. Our technology enables plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Our customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time.

With offices in major centers throughout North America, Australia and the Middle East and a global client base including industry leaders in a wide range of manufacturing and process industries, Matrikon's reach is global.

For more information, contact:

Nicole Sayler

Phone: 780-945-4010


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