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Adobe Issues Q1 Business Update, InDesign and Other Products on Target

Press release from the issuing company

SAN JOSE, Calif.--Jan. 31, 2002--Adobe today is providing its regular intra-quarter business update for its first quarter of fiscal 2002, which ends March 1, 2002. With more than four weeks remaining in the quarter and assuming typical seasonal results for the month of February, Adobe believes it will achieve revenue and pro forma earnings per share within the target ranges it previously provided on December 13, 2001. The Company's first quarter target ranges are revenue of $265 to $280 million, and pro forma earnings per share of $0.20 to $0.22. In summarizing its geographic performance to date, Adobe stated that revenues in the U.S. and Europe were marginally weaker in December than anticipated. However, the Company has since seen an improvement in business in both markets as the typically slow holiday season has passed and new versions of products were introduced in January. In Asia, Japan revenue continues to be stable and is on track with Company expectations for the first quarter. Commenting on the first quarter thus far, Bruce R. Chizen, president and chief executive officer of Adobe stated, "We are in the midst of a strong product release cycle. We have shipped several products, including Adobe InDesign 2.0, and we are on track to deliver other key products as planned.'' The Company plans to report its first quarter fiscal 2002 results on March 14, 2002 after the market closes.