Ottawa, Canada - August 8, 2001 - procreate Painter 7 is now available to customers across North America. Painter 7 is the first application to launch under the new procreate line of professional creative products. Optimized for both Macintosh and Windows, Painter 7 offers advanced Natural-Media painting and image editing capabilities that make it possible to produce awe-inspiring images replicating the precision and artistic possibilities of a true painting experience. "Unveiled for the first time at Macworld Expo, we were truly impressed with the strong reception and feedback Painter 7 received from our customers," said Ian LeGrow, executive vice president in charge of procreate development. "Many of the new features - including my personal favorite, the new watercolor technology - offer creative professionals the ability to add new elements to their images that were previously impossible to achieve without paint and a brush." "Teamwork and relentless enthusiasm has ensured a rock-solid release. As a result, Painter 7 is the best version ever," said John Derry, one of the principal authors and creators of Painter. "Judging by the reactions to Painter 7 at Macworld Expo, users are as delighted as I am to see a well-loved application breaking ground with natural media features that truly inspire." On its own or as a complement to Adobe Photoshop, Painter 7 is an exciting addition to the professional creative tool kit. New features include: Watercolor technology that recreates the medium of natural watercolor with more flexibility and control than ever before Liquid Ink layer mimics the viscosity of a thick, gluey medium like ink or paint Full support for the new Mac OS X Aqua interface Windows users will benefit from new palette tools, sliders, and more "The vast majority of U.S. graphics professionals use Macintosh computers - these are the customers that will be targeted by the new procreate collection of professional graphics products," said Chris Le Tocq, principal at Guernsey Research. "Combined with a concentration on pushing the edge of professional creativity and new marketing initiatives targeted to the Mac professional, the procreate message should resonate well in the design community." Painter 7 will be available at the suggested retail price of US $499* for all platforms. Registered users of previous versions of Fractal Design PainterT 4 and 5, MetaCreationsT Painter 5.5 and 6 or Corel PainterT 6 are eligible to purchase the upgrade version of Painter 7 for US $199*. German and French versions will be available in September and October, 2001. Painter 7 is available for Mac OS 8.6 or higher, including Mac OS X, and Windows 98, Windows 2000, Windows NT 4.0 and Windows Me. For more information about Painter 7, please visit www.procreate.com. *Suggested retail price; Retailers may sell for less. procreate procreate is a new line of software applications geared specifically for powering and extending the possibilities of creative professionals - designed and delivered by Corel Corporation. 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 . For more information on procreate, please visit www.procreate.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, procreate, the procreate logo, Painter, Painter 7, and Natural-Media are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited in Canada, the United States and/or other countries. All other product, font, and company names and logos are trademarks or registered trademarks of their respective companies. Press Contact: Meredith Dundas Senior Communications Manager office: (613) 728-0826 ext. 1513 meredithd@procreate.com