OTTAWA and BURLINGTON, Mass., Oct. 11 /PRNewswire-FirstCall/ -- Cognos Incorporated (Nasdaq: COGN; TSX: CSN) confirmed that the Annual General Meeting of Shareholders is scheduled for 3:30 p.m., Wednesday, October 18, 2006, at the Tudor Reception Hall, 3750 Bowesville Road, Ottawa, Ontario. Cognos also confirmed that it has entered into an agreement with Les Rechan, its Chief Operating Officer, evidencing the grant to Mr. Rechan of an option to purchase 250,000 shares of Cognos common stock as previously disclosed by Cognos in its Form 8-K dated May 15, 2006. Cognos is issuing this press release at this time in compliance with Nasdaq Marketplace Rules, which provide an exception from the requirement to obtain shareholder approval of certain grants of equity compensation made as inducement grants to new employees. The exercise price for the option grant is $35.64 CDN. The option grant was approved by the Cognos Human Resources and Compensation Committee of the Board of Directors. The option vests equally over the first four anniversaries of the grant and expires on the sixth anniversary of grant. If Cognos terminates Mr. Rechan's employment without cause or if Mr. Rechan terminates his employment for good reason within twenty-four months following a change in control, any unvested portion of the option will become automatically vested and exercisable. The option grant was made outside of the Cognos 2003-2008 Stock Option Plan as an inducement for Mr. Rechan to join Cognos, as there were insufficient shares available under the plan to grant this award and to meet other Cognos option award requirements. About Cognos: Cognos, the world leader in business intelligence and performance management solutions, provides world-class enterprise planning and BI software and services to help companies plan, understand and manage financial and operational performance. Cognos brings together technology, analytical applications, best practices, and a broad network of partners to give customers a complete performance system. The Cognos performance system is an open and adaptive solution that leverages an organization's ERP, packaged applications, and database investments. It gives customers the ability to answer the questions -- How are we doing? Why are we on or off track? What should we do about it? -- and enables them to understand and monitor current performance while planning future business strategies. Cognos serves more than 23,000 customers in more than 135 countries, and its top 100 enterprise customers consistently outperform market indexes. Cognos performance management solutions and services are also available from more than 3,000 worldwide partners and resellers. For more information, visit the Cognos Web site at http://www.cognos.com/. Cognos and the Cognos logo are trademarks or registered trademarks of Cognos Incorporated in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies. Media Contact: Sean Reid Cognos, 613-738-1440 Investor Relations: John Lawlor 613-738-3503 DATASOURCE: Cognos CONTACT: Sean Reid, +1-613-738-1440, , or Investor Relations: John Lawlor, +1-613-738-3503, Web site: http://www.cognos.com/

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