Corel Appoints Chief Technology Officer.

Business Editors

OTTAWA--(BUSINESS WIRE)--March 29, 2001

Corel Corporation (NASDAQ:CORL) (TSE:COR.) is pleased to announce that Rene Schmidt, a senior executive at the company, has been appointed to the position of chief technology officer (CTO).

Mr. Schmidt has worked at Corel since 1995, most recently in the position of executive vice-president, Linux(R) products. In his new role, Mr. Schmidt is responsible for spearheading the adoption of new technologies, including products and infrastructure, to capitalize on opportunities in high-growth, high-yield markets. He will also ensure the company is well represented in technology forums and conferences worldwide and act as one of Corel's principal keynote speakers.

"As Corel's new CTO, Rene will further strengthen the company's reputation for technological innovation by working with emerging technologies to enhance the range of options for our customers," said Derek Burney, president and CEO of Corel Corporation. "He is well suited for this position. In addition to his natural leadership abilities and solid understanding of Corel's market strengths, Rene played an important role in establishing a new strategic direction for the company. A large portion of our success will come from our ability to exercise our technological muscle and Rene will oversee that element of our strategy."

"It's an exciting time in Corel's history and I look forward to helping lead the company to future prosperity," said Mr. Schmidt. "One of my key objectives is to ensure Corel is leading the charge of technological innovation in our markets by fostering a learning environment. Strategy, innovation and the ability to build and articulate a compelling vision are important parts of my plan to help the company thrive."

Mr. Schmidt has more than 15 years experience working in the software industry. Before joining Corel, he spent several years with Instantel Inc., where he held positions equivalent to chief software architect and software development manager. His past experience with software development is multi-dimensional, encompassing technologies such as embedded low-powered devices, real time operating systems, signal processing analysis tools, network protocols, databases, user interfaces and Linux.

Corel Corporation

Corel Corporation provides its customers with the creative tools they need to unleash their imaginations. With its heritage of software innovation and a solid franchise of loyal customers worldwide, Corel has earned its reputation as an internationally recognized developer of award-winning graphics and business productivity applications on the Windows(R), Macintosh(R), Linux(R) and UNIX(R) platforms. In 2001, Corel will continue to expand its support of the Web, delivering the Internet's versatility to customers through exciting Web-based applications, content and services. Corel will also be developing applications for Microsoft's .NET platform as part of its commitment to provide customers with a full range of applications and services over the Internet. With its headquarters in Ottawa, Canada, Corel continues to be one of Silicon Valley North's most exciting and influential software companies. Corel's common stock trades on the NASDAQ Stock Market under the symbol CORL and on the Toronto Stock Exchange under the symbol COR. For more information on Corel Corporation, please visit www.corel.com

This press release contains forward-looking statements as defined by the United States Private Securities Litigation Reform Act of 1995, involving the company's expectations about future financial results and other matters. These statements reflect management's current forecast of certain aspects of the company's future business. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results of operations to differ materially from historical results or current expectations. The words "plan", "expect", "believe", "intend", "anticipate", "forecast", "target", "estimate" and similar expressions identify forward-looking statements. Risk factors include shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission for a more complete discussion of the other risks and uncertainties. The factors underlying forecasts are dynamic and subject to change. As a result, forecasts speak only as of the date they are given and do not necessarily reflect the company's outlook at any other point in time. The company does not undertake to update or review these forward-looking statements.

Corel and the Corel logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. All other product, font, company names and logos are trademarks or registered trademarks of their respective companies.