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Adobe Systems Reaffirms Q1 Financial Targets

Press release from the issuing company

SAN JOSE, Calif.--Jan. 31, 2006-- Adobe Systems Incorporated today is providing its regular intra-quarter business update for its first quarter of fiscal 2006, which ends March 3, 2006. With approximately five weeks remaining in the quarter, Adobe announced it believes it will achieve quarterly results within the financial targets it provided on December 15, 2005. The Company's Q1 FY2006 target ranges are the following: revenue of $630 to $660 million, GAAP earnings per share of $0.13 to $0.16, non-GAAP earnings per share of $0.28 to $0.30, a GAAP operating margin of 15 to 19 percent, and a non-GAAP operating margin of 35 to 36 percent. In its update, the Company indicated it is experiencing solid demand in its major geographic markets. The Company plans to report its first quarter fiscal 2006 results on March 22, 2006 after the market closes. Adobe Reaffirms Fiscal 2006 Annual Financial Targets Adobe also announced today it is reaffirming its financial targets for fiscal year 2006. The Company said it continues to target fiscal 2006 annual revenue of approximately $2.7 billion, with a GAAP annual operating margin target range of approximately 20 to 23 percent, and a non-GAAP annual operating margin target range of approximately 36 to 37 percent. The Company's fiscal 2006 financial targets assume a stable economic environment, as well as the retroactive extension of the research and development tax credit. Company to Outline Business Strategy at Financial Analyst Meeting Adobe's management team plans to discuss its business strategy at its 2006 Financial Analyst Meeting, which will be held today in New York, NY. The meeting will be broadcast live from Adobe's Website (http://www.adobe.com/analystmeeting) beginning at 10:00 a.m. Eastern Time. For those unable to attend the meeting or watch the Webcast, an archive of the event will be available on Adobe.com for a limited time.

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