Creo Successfully Completes C$67.0 Million/US$50.0 Million Equity Financing.

Business Editors/High-Tech Writers

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 15, 2004

Creo Inc. (NASDAQ:CREO) (TSX:CRE) announced that it has successfully completed the issuance of 5,000,000 common shares of Creo. On March 1, 2004, Creo announced that it had entered into an agreement with a syndicate of underwriters in connection with the offering. The common shares were sold on a bought deal basis at a price of C$13.39 per common share or US$10.00 per common share for total gross proceeds of approximately C$67.0 million or US$50.0 million. RBC Capital Markets acted as lead manager. Other members of the syndicate included BMO Nesbitt Burns, TD Securities, Merrill Lynch, Dundee Securities, Raymond James and Sprott Securities.

Creo intends to use these proceeds for general corporate and working capital purposes to support the execution of its digital media strategy and the capitalization and integration of its recent acquisitions, financing investment opportunities, and for additions to its facilities including adding new manufacturing capacity for plates and hardware and expanding capacity at existing plants.

About Creo

Creo Inc. is a global company with key strengths in imaging and software technology. The leading provider of prepress systems, Creo helps over 25,000 customers worldwide adopt digital production methods which reduce costs, increase print quality and allow them to serve their customers more efficiently. Based on a solid foundation of intellectual property, Creo has an unmatched range of technology solutions that address the needs of commercial, publication, on demand, packaging, and newspaper printers, and creative professionals. Creo product lines include software and hardware for computer-to-plate imaging, systems for digital photography, scanning, and proofing, as well as printing plates and proofing media. Creo also supplies on-press imaging technology, components for digital presses, color servers and high-speed digital printers.

Based in Vancouver, Canada, Creo employs more than 4,000 people and reported fiscal 2003 revenue of US$578 million. Creo trades on NASDAQ (CREO) and the TSX (CRE). www.creo.com

(C) 2004 Creo Inc. The Creo product names mentioned in this document are trademarks or service marks of Creo Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data subject to change without notice.

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

These risks and uncertainties include the following: (1) new markets and product introductions do not proceed as planned and may adversely affect future revenues; (2) technological changes or changes in the competitive environment may adversely affect the products, market share, revenues or margins of the business; and (3) changes in general economic, financial or business conditions may adversely affect the business or the markets in which it operates.. These risks and uncertainties as well as other important risks and uncertainties are described under the caption "Certain Factors That May Affect Future Results" and elsewhere in our Annual Report for the fiscal year ended September 30, 2003, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this news release.