Intrinsyc Announces Closing of Over-Allotment Option

Intrinsyc Software International, Inc. (the “Company”) (TSX:ICS) is pleased to announce the closing today of the partial exercise of the over-allotment option previously granted to the underwriting syndicate led by Canaccord Adams, and including Paradigm Capital Inc., Raymond James Ltd. and GMP Securities L.P., in the Company’s public offering that closed on May 10, 2007. The underwriting syndicate partially exercised its over-allotment option to purchase an additional 3,051,900 Common Shares, at a price of $0.60 per Common Share, resulting in gross proceeds of $1,831,140. The total offering is therefore 36,385,900 Common Shares for gross proceeds to the Company of $21,831,540.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States. The securities to be sold in the Offering have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States or to a U.S. person absent registration or an exemption from the registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company and management, as well as financial statements.