Corel Securityholders' Meeting One Week Away-Company Reminds Securityholders to Cast Their Vote on Proposed Acquisition.

Business Editors/High-Tech Writers

OTTAWA--(BUSINESS WIRE)--Aug. 13, 2003

Corel Corporation (NASDAQ:CORL) (TSX:COR) today reminded eligible securityholders to vote on the proposed acquisition by Vector Capital either by submitting a proxy or attending the Special Meeting in Toronto on August 20, 2003. Proxies that are mailed or faxed must be received by Computershare Trust Company by 5 p.m. Eastern on Monday, August 18, 2003 in order for them to be included in the vote.

The Special Meeting has been called to allow Corel securityholders to vote on three resolutions including one approving a Plan of Arrangement that would result in the Vector Capital group acquiring all the common shares of Corel for US $1.05 (or approximately Cdn $1.48 based on recent exchange rates) per share.

In media interviews earlier this week, Derek Burney, president and CEO of Corel, and Alex Slusky, managing partner at Vector Capital, emphasized the importance of securityholders participating in this democratic decision affecting their company and their investment. They also reaffirmed the following key points in favor of the proposed transaction:

-- The proposal has been unanimously recommended by the Board of

Directors of Corel after a thorough analysis of Corel's

historical operating results, financial condition, and

prospects, as well as the market conditions, trends and future

prospects of the industry in which Corel operates.

-- It represents a 42 percent premium over the US $0.74 value of

Corel shares at the time negotiations with Vector were first

publicly announced.

-- The proposal is fair to securityholders from a financial point

of view, according to the opinion provided to the Board of

Directors by its financial advisor, CIBC World Markets Inc.

-- The proposal is towards the upper end of a value range for

Corel common shares of US $1.00 to US $1.08 per share

established by KPMG Corporate Finance Inc. through an

independent valuation of Corel, assuming the cost savings of

being a private company are realized.

-- It remains the only proposal currently available to

securityholders even after CIBC World Markets, working on

behalf of the Board of Directors, conducted an extensive

search for alternatives.

-- The proposal is subject to the Boards' fiduciary right to

accept a superior proposal should one emerge.

Holders of Corel common shares are asked to fill in and return the white proxy form and blue Letter of Transmittal. Those with Corel convertible securities should use the green proxy form and yellow Letter of Transmittal.

Corel securityholders whose shares are held by a broker may contact their broker, or vote via the Internet or telephone using the control number found on their proxy form. Securityholders with physical certificates may vote by returning their proxies by mail, fax or by attending the meeting in person.

The Special Meeting will start at 4:00 p.m., Eastern time, on August 20, 2003. It will be held at the Holiday Inn on King, 370 King Street West, Toronto, for holders of Corel securities, including: Corel common shares; Series A participating convertible preferred shares, and; options, warrants or other securities (excluding Series A Shares) exercisable for, convertible into or exchangeable for common shares for less than US $1.05 per share.

Corel securityholders who have questions about the Special Meeting or who require a proxy may contact their brokers or MacKenzie Partners Inc. toll-free at [phone].

About Corel Corporation

Founded in 1985, Corel Corporation (www.corel.com) is a leading technology company specializing in content creation tools, business process management and XML-enabled enterprise solutions. The company's goal is to give consumers and enterprise customers the ability to create, exchange and instantly interact with visual content that is always relevant, accurate and available. 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.

Vector Capital

Vector Capital is a San Francisco-based venture capital and private equity firm focused on special opportunity investments in software and information technology services. Vector serves the needs of growing software companies by actively partnering with their management in creating value for their customers and shareholders. Vector Capital's investments include LANDesk Software, Savi Technology and ProcessClaims. Additional information about Vector Capital can be obtained at www.vectorcapital.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.

(C) 2003 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.