Quorum Releases Fiscal Year 2007 Results And and Announces Financing

Quorum Information Technologies Inc. ("Quorum" or the "Corporation") (TSX
VENTURE:QIS) today released Fiscal Year (FY) 2007 results. Quorum provides
services to General Motors (GM), Chrysler and Hyundai dealerships in North
America. The Corporation is an Integrated Dealership Management System (IDMS)
strategic partner with GM and a strategic partner with Microsoft. Quorum has a
large opportunity with a market of approximately 12,000 dealerships and to
capitalize on this market Quorum has invested significant funds. Historically
the Corporation has placed significant emphasis on growing its customer base,
however in FY2007, Quorum placed a much greater emphasis on cost management and
on providing value added, recurring services to existing customers. Some of the
Corporation's key results were:


- Increased sales by 10% from $7.4 million in FY2006 to $8.2 million in FY2007;

- Reduced operating loss before interest, amortization and taxes by 65% from
negative $4.3 million in FY2006 to negative $1.5 in FY2007 million;


- In fourth quarter of FY2007 the Corporation recorded recurring support revenue
of $1.2 million compared to $0.8 million for the fourth quarter of FY2006.


- The Corporation's consolidated statement of cash flow shows cash consumption
of less than $110,000 for the fourth quarter of FY2007.


In 2008, we plan to maintain our focus on efficiency and effectiveness to
generate positive cash flow. However, we also see 2008 as a growth year for new
sales as our sales department becomes more focused on specific US regions. Early
in 2008, one of the Corporation's key competitors exited the GM IDMS program and
this has significantly enhanced Quorum's sales opportunities.


2007 Financial Highlights

- 10% increase in gross revenues from FY2006.

- 15% increase in customer base from 175 to 201 installations.

- Net loss for FY2007 decreased to $1.952 million from $3.666 million in FY2006.



Financial Highlights             Year ended      Year ended      Year ended
                                   December        December        December
                                   31, 2007        31, 2006        31, 2005
----------------------------------------------------------------------------

Gross revenue                     8,162,503      $7,423,733      $5,772,973
Cost of products and services
 sold                             5,610,441       6,233,650       5,196,823

Gross profit                      2,552,062       1,190,083         576,150

Loss before interest, taxes
 and amortization (EBITDA)       (1,514,678)     (4,302,926)     (2,690,804)

Net loss                         (1,951,916)     (3,666,353)     (2,194,589)

Basic loss per share                 (0.051)         (0.116)         (0.079)
Fully diluted loss per share         (0.051)        $(0.116)        $(0.075)

Weighted average number
 of common shares
  Basic                          38,214,449      31,517,432      27,634,483
  Diluted                        38,406,972      31,706,932      29,244,843

XSELLERATOR installations
 - in the period                         29              34              27
XSELLERATOR installations 
 - to date (year to date
 reflects 3 lost dealerships)           201             175             143
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For detailed FY2006 and FY2005 financial information, please go to
www.Sedar.com or www.QuorumDMS.com.



Quorum is also pleased to announce today that it has closed a non-brokered
private placement of 1,500 units ("Units") at a price of $1,000 per Unit for
aggregate gross proceeds of $1,500,000 (the "Offering"). Each Unit is comprised
of one 12% convertible secured debenture (a "Debenture") of the Corporation
having a principal amount of $1,000 and 750 common share purchase warrants (the
"Warrants") of the Corporation, each whole Warrant entitling the holder thereof
to purchase one (1) common share (a "Common Share") in the capital of the
Corporation at an exercise price of $0.55 per share until that date that is two
(2) years from the earlier of the maturity date of the Debentures, being three
(3) years from the date of closing, and the conversion date of the Debentures.
The Debentures, Warrants and Common Shares issuable upon exercise of the
Warrants are subject to a hold period of four (4) months from closing. The
Corporation's obligations under the Debentures are secured by a first priority
security interest in and to, and a first floating charge against, all of the
Corporation's present and after-acquired property.


The net proceeds of the financing will be used to capitalize on the sales
opportunity created by a key competitor exiting the GM IDMS program and for
general corporate purposes, including software development, marketing and
implementation and working capital.


About Quorum

Headquartered in Calgary, Alberta, Quorum's focus is on developing, marketing,
implementing and supporting its XSELLERATOR(TM) product for the automotive
vertical. XSELLERATOR is a dealership and customer management software product
which automates, integrates and streamlines every process across departments in
a dealership. One of the select North American suppliers of General Motors'
IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships
with over 20% of the market. Quorum is a Microsoft Gold Certified Partner and
Field-Level Managed ISV in both Canada and the United States. Quorum Information
Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol
QIS.