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Corel Establishes Office in Japan, Strengthens Asian Presence

Press release from the issuing company

OTTAWA & TOKYO--May 22, 2002--Corel Corporation announced that it has opened an office in Tokyo, Japan - an investment designed to further strengthen relationships with customers and partners in the Asia-Pacific market and increase the company's revenues in this key region. Corel Corporation's Japan office was established following the company's 2001 acquisition of Micrografx, Inc., which operated a facility in this region. "Establishing a regional office based in Japan is a strategic move for Corel Corporation," said Gary J. Klembara, executive vice-president of sales at Corel. "As separate entities, both Corel and Micrografx had cultivated a solid base of customers in this region. Together, we intend to command an even stronger presence in the Asia-Pacific market. By being closer to our partners and customers, we can enhance those relationships and expand our customer reach. Growing our business in the Asia-Pacific market is a key part of Corel's growth strategy." Corel Corporation's primary partners serving the Asia-Pacific market are Marubeni and its subsidiary Media Vision. The companies plan to build upon their long-standing relationship through new sales and marketing initiatives specifically designed to address the needs of customers in this region. "We are pleased that Corel has made this important investment," said Yoshiyasu Fukuda, president and CEO of Media Vision. "Our research shows there is an enormous potential for growth in software sales in the Asia-Pacific market and we are very excited about the opportunities that lie ahead as a key partner for Corel."

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