Miranda Technologies Inc. (“Miranda”) announced today that the underwriters of the initial and secondary public
offering of 12,522,742 of its common shares that closed on December 8, 2005
have expressed their intention to exercise in full their over-allotment option
pursuant to which they will purchase from the selling shareholders 1,363,636
additional common shares of Miranda at the offering price of $11.25 per common
share for gross proceeds to the selling shareholders of $15,340,905. Miranda
will not receive any proceeds from the exercise of the over-allotment option.

The closing of the exercise of the over-allotment option is scheduled for
December 14, 2005.

Genuity Capital Markets and BMO Nesbitt Burns Inc. co-led the
underwriting syndicate, which includes Desjardins Securities Inc., National
Bank Financial Inc. and TD Securities Inc.
The common shares of Miranda are listed on the Toronto Stock Exchange
under the symbol “MT”.

Miranda develops, manufactures and markets high-performance hardware and
software for the television broadcast industry. Miranda’s solutions are
purchased by content creators, broadcasters, specialty channels and television
service providers to enable and enhance the transition to a complex
multi-channel digital and high definition television broadcast environment.
Miranda’s equipment allows its customers to generate additional revenue while
reducing costs through the more efficient distribution and management of
content as well as the automation of previously manual processes.