MIAMI, FL – January 9, 2008

Emphasys Software announced today that it has completed the acquisition of SettlementRoom Systems, Inc. (“SettlementRoom”). SettlementRoom offers solutions for real estate closing processes to create streamlined communication between parties.

Emphasys Software will continue to provide support to all SettlementRoom customers, leveraging SettlementRoom’s existing staff located in Vienna, VA.

“We welcome SettlementRoom customers and employees to the Emphasys family. We believe that SettlementRoom’s strong transaction management suite can have a tremendous impact on many other organizations within the real estate industry. We are excited to work with the over 100,000 registered users of SettlementRoom to expand on the already strong value they receive from the product,” said Mike Byrne, Emphasys Software’s CEO.

About Emphasys Software

Emphasys Software is a wholly owned subsidiary of Constellation Software, Inc., (TSX: CSU) and is a leading provider of real estate management, financial and compliance software solutions. Emphasys provides market leading solutions to organizations in the real estate, financial management, public housing, and financial housing marketplaces. For further information on Emphasys Software, visit www.emphasys-software.com.

About Constellation Software

Constellation Software Inc., common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The company acquires, manages and builds vertical market software businesses that provide mission-critical solutions to address industry specific needs.

Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Constellation or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date hereof. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements are made as of the date hereof and Constellation Software Inc. assumes no obligation to update any forward looking statements to reflect new events or circumstances.

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