KRL.P Karel Capital Corp.

Karel Capital Corporation ("Karel" or the "Company") (TSX VENTURE:KRL.P), a
capital pool company, and Preo Software Inc. ("Preo") (CNSX:PKM) announce the
TSX Venture Exchange Inc. (the "Exchange") has granted conditional acceptance to
Karel's Qualifying Transaction (the "QT") pursuant to the Exchange Policy 2.4
(the "Policy"), being the proposed arm's length amalgamation of Karel and Preo
pursuant to the Business Corporations Act (Alberta) (the "Amalgamation"). All
capitalized terms have the same meanings as defined in the Joint Management
Information Circular of the Company and Preo dated May 3, 2010 which can be
found on SEDAR at www.sedar.com.


Additionally, Karel and Preo announce their respective shareholders have
approved the Amalgamation at their respective Annual Special and General
Meetings held on May 31, 2010. The closing date of the Amalgamation (the
"Closing Date") is subject to the closing of the short form offering financing
(which has not occurred to date) as described in the parties joint announcement
dated May 5, 2010.


Additional Sum Provided as a Bridge Loan

Karel and Preo announce that further to their joint press releases issued on
February 2, 2010 and May 5, 2010, Karel has provided a bridge loan of $250,000
to Preo (the "Bridge Loan"), being an increase of $25,000 of the previously
announced amount of the loan, all as permitted by the Policy. The Bridge Loan is
being provided to fund Preo's operations prior to the Closing Date.


Continuing Halt to Trading of Karel Shares

Trading of the Karel Shares continues to halted and will recommence at such time
as the Exchange may determine, having regard to the completion of certain
requirements pursuant to the Policy.


Completion of the transaction is subject to a number of conditions. There can be
no assurance that the transaction will be completed as proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


About Preo

Preo has developed proprietary software that enables print users to maximize
their print assets by optimizing print jobs to the appropriate printer. Preo's
proprietary flagship product is called Printelligence(TM)and is sold as a
monthly subscription service. Printelligence(TM) is a web based print management
system that adapts itself to an organization's printing behaviour. This patent
pending adaptive rules engine modifies the messaging delivered to end-users at
the desktop, based on individual behaviour. Printelligence(TM) helps
organizations educate their employees as to the true costs of printing.


About Karel Capital Corporation

Karel Capital Corporation is a capital pool company as defined by the Policy.
The principal business of the Company is to identify and evaluate opportunities
for the acquisition of an interest in assets of businesses and, once identified
and evaluated, to negotiate an acquisition or participation subject to receipt
of shareholder approval and acceptance for filing by the Exchange.

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