OPPOSITION TO COREL TAKEOVER PLAN CONTINUES TO GAIN MOMENTUM Founder Dr. Michael Cowpland considers the offer "pathetic"

Since launching on June 17, CorelRescue.com has had an overwhelming response and show of support. Corel shareholders, employees and customers from all over the world have contacted CorelRescue.com with their stories and to add their voice in support of the No Vote campaign. Nearly 7 million shares have been submitted to-date in a CorelRescue.com poll voting against the deal, despite the vast majority of shareholders still unaware of the takeover plan.

Ottawa (PRWEB) July 16, 2003 - Since launching on June 17,CorelRescue.com has had an overwhelming response and show of support. Corel shareholders, employees and customers from all over the world have contacted CorelRescue.com with their stories and to add their voice in support of the No Vote campaign. Nearly 7 million shares have been submitted to-date in a CorelRescue.com poll voting against the deal, despite the vast majority of shareholders still unaware of the takeover plan.

When asked for his opinion about the impending buyout plan by Vector CC Holdings, L.L.C., Corel's founder Dr. Michael Cowpland said he considered the offer "pathetic". He also noted that "Corel has a fantastic future with great Corel Graphics, WordPerfect Office 11 and Linux surging worldwide", adding that he hopes "we Corel fans succeed in helping an independent amazing future for Corel".

Corel's current CEO Derek Burney has dismissed the shareholders concerns expressed by CorelRescue.com as little more than "innuendo and hyperbole" during the latest Q2 2003 Conference Call on June 27. When questioned about the shareholder opposition to the buyout by the press, Mr. Burney was not willing to provide even one example of such "hyperbole". Burney also stated that the 'facts' would be in the Proxy letter being mailed to the shareholders at end of July. All of the 'facts' would be welcome, especially if there were no omissions and the shareholders' opposing views were also given reasonable exposure. The timing, however is entirely too late for shareholders to receive and react during the summer vacation period before a mid August voting date.

In direct challenge to the claimed "innuendo and hyperbole", Dr. Cowpland was asked to comment about the accuracy of an article on the Corel Rescue website expounding on the "Microsoft Connection". His response was that it was "mainly accurate stuff". The shareholders believe that any potential conflicts of interest that may have occurred during the Microsoft investment period should be investigated.

The Corel Rescue Team requests that the Board of Directors scrap this unfair, illogical deal. The request is to resume working for renewed profitability and to expedite the three year plan.

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About CorelRescue.com

Our mission is to provide a voice for the silent majority of shareholders who have a desire to see Corel remain a public corporation, and create a forum to unite all Corel's stakeholders (designers, vendors, citizens, employees,... anyone with an interest in Corel) in maintaining Corel's stature as a member of the high tech community in Ottawa and the world.

For more information, please visit http://www.corelrescue.com

General contact: campaign@corelrescue.com
Media contact: media@corelrescue.com

Other media contacts:

Robert Alexander
Phone: 416-543-5211
Email: ralexander@corelrescue.com

Charles Golden
Phone: 330-854-9547
E-mail: cgolden@corelrescue.com
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