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Adobe Systems Raises Q2 Targets; Acrobat 6 Demand Strong

Press release from the issuing company

SAN JOSE, Calif.--April 30, 2003-- Adobe Systems Incorporated, the leader in network publishing, today is providing its regular intra-quarter business update for its second quarter of fiscal 2003, which ends May 30, 2003. Based on strong initial orders for its new Adobe Acrobat release, and higher-than-expected seasonal strength in its Japan business in March, Adobe has raised its financial targets for its second quarter. The Company stated that it was increasing its revenue target for the quarter to a range of $305 to $320 million. GAAP earnings per share targeted for the quarter were increased to a range of $0.24 to $0.28. The Company currently believes that pro forma earnings per share results will not differ materially from GAAP results. These revised ranges also assume the shipment of Acrobat in May, which the Company is still targeting. Adobe's previous second quarter target ranges, provided on March 13, 2003, were revenue of $300 to $315 million, and, GAAP and pro forma earnings per share of $0.24 to $0.27. In its update, Adobe also said that its Americas and Europe markets were on track for the quarter. The Company plans to report its second quarter fiscal 2003 results on June 12, 2003 after the market closes.