Corel to Deliver Creative & Powerful Tools for Mac OS X: Mac OS X Compatibility Represents Key Step in Advancing Corel's Strategy.

Business Editors

OTTAWA--(BUSINESS WIRE)--May 23, 2001

Corel Corporation (NASDAQ:CORL)(TSE:COR.) is pleased to announce that it will be launching a full complement of design tools for Mac OS X this summer and fall, strengthening its offering to the Macintosh community and marking a major milestone in its new corporate strategy.

Corel will introduce the upcoming releases for Mac OS X by providing Apple customers with the opportunity to select Corel's current design tools when purchasing hardware from the Apple online store. Products to be included in this offering are KPT(R) 6, Bryce(R) 4, Corel Painter(TM) 6 and Corel(R) KnockOut 1.5. These titles, featured at a special Apple end-user price, will be available with all Apple hardware.

"Corel recognizes Mac OS X as one of the world's most advanced operating systems at the forefront of technology and the ideal platform for Corel's powerful and creative design tools," said Steve Houck, executive vice-president of sales at Corel Corporation. "We are committed to delivering the tools that Macintosh users need to fully empower their creativity."

"With its UNIX-based foundation and stunning Aqua user interface, Mac OS X is the ultimate platform for creative professionals and consumers to design on and realize their creative potential," said Ron Okamoto, Apple's vice president of worldwide developer relations. "We are pleased that Corel continues to show its support for the Mac community by bringing their exciting design tools to Mac OS X."

This special promotion will be followed this summer and fall with the launch of Mac OS X optimized applications: Bryce 5, Corel Painter 7, CorelDRAW(R) 10 for Macintosh, Corel KnockOut 2 and KPT 7. Delivering best-of-breed products for Apple's next generation operating system is an integral part of Corel's overall corporate strategy.

This offer will also be available in the Apple Store for Education, which provides powerful solutions for students, teachers and institutions. To purchase hardware and software, customers can visit the Apple Online Store at www.store.apple.com or call their toll-free order line at 1-800-MY-APPLE.

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 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 its 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 owners.