Corel Corporation Appoints Interim Chief Financial Officer.

Business Editors

OTTAWA--(BUSINESS WIRE)--Sept. 30, 2002

Corel Corporation (NASDAQ:CORL)(TSX:COR) today announced the appointment of W. Martin Catto to the position of Chief Financial Officer (CFO) and Executive Vice-President, Finance in an interim capacity for six months to one year. In this role, Mr. Catto will oversee Corel's financial reporting and management of its finance and legal departments. He will also be responsible for effecting the cost-reduction plan for the company.

"With this appointment, we are rounding out the depth of business experience represented within Corel's executive management team," said Derek Burney, President and CEO of Corel Corporation. "With his 25-year professional history in corporate finance and strong credentials in leading public companies towards financial success, we are confident that Mr. Catto's extensive experience and exceptional skills will be a tremendous asset for Corel."

Mr. Catto joins Corel following a long, distinguished career in corporate finance. Most recently, he worked as a financial consultant, providing process improvement, due diligence and interim financial executive services for firms based in New York. Prior to that, he worked for 16 years at Harlequin Enterprises Ltd., based in Toronto, Canada, where he assumed the position of Senior Vice-President and CFO. During Mr. Catto's tenure, Harlequin developed an outstanding financial reporting function during a period of international diversification and growth. Following his time at Harlequin, Mr. Catto worked as Senior Vice President and CFO at Troll Communications, LLC, a former Harlequin subsidiary based in New Jersey.

"I look forward to taking a lead role in strengthening Corel's financial position and accelerating its efforts to improve profitability and cash generation," said Mr. Catto. "I am delighted to join Corel's strong management team and apply my international expertise in financial management."

Mr. Catto qualified as a CA after graduating from the University of the Witwatersrand in Johannesburg, South Africa. He is certified as a CA with the Canadian Institute of Chartered Accountants and the South African Institute of Chartered Accountants. He is also an International Associate Member of the New York State Society of Certified Public Accountants.

To access a biography of Mr. Catto, please visit Corel's Web site at: http://www.corel.com/executivebios

About Corel Corporation

Founded in 1985, Corel Corporation (www.corel.com) is a leading technology company that offers software for home and small business users, creative professionals and enterprise customers. With its headquarters in Ottawa, Canada, Corel's common stock trades on the Nasdaq Stock Market under the symbol CORL and on the Toronto Stock Exchange under the symbol COR.

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, implementation and timing of cost-reduction activities and effects 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.

(C) 2002 Corel Corporation. All rights reserved. Corel and the Corel logo are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries. All other product, font and company names and logos are trademarks or registered trademarks of their respective companies.