Corel Corporation to File its Initial Solicitation/Recommendation Statement in Response to Corel Holdings, L.P. Unsolicited Tender Offer

OTTAWA--(Business Wire)--
Corel Corporation (NASDAQ:CREL; TSX:CRE) today announced that the directors
mandated by its Board of Directors to act as the Board with respect to all
matters related to a possible transaction with Vector Capital, the general
partner of Corel Holdings, L.P. ("CHLP") will cause Corel to file its initial
solicitation/recommendation statement on Schedule 14D-9 today with the
Securities and Exchange Commission ("SEC") as well as with the Canadian
Securities Administrators in connection with its evaluation of the unsolicited
tender offer commenced by CHLP on October 28, 2009 (the "Offer").

As will be stated in the Schedule 14D-9, the Board is unable to take a position
with respect to the Offer at the present time because they have not had the
opportunity to complete their evaluation of the increase in the Offer price per
common share that Vector advised them of late last night. The Board intends to
complete their evaluation of the revised Offer with their financial and legal
advisors and will in the near future, on behalf of Corel: (i) recommend
acceptance or rejection of the Offer; (ii) express no opinion and remain neutral
toward the Offer; or (iii) state that it is unable to take a position with
respect to the Offer.

Shareholders are urged to review Corel`s Schedule 14D-9, which is being filed
today with the SEC and contains additional information, including information
concerning the background of the offer and this recommendation. The Schedule
14D-9 will be available on Corel`s website, http://investor.corel.com or on the
website maintained by the SEC at http://www.sec.gov, and the website maintained
by the Canadian Securities Administrators at www.sedar.com. Shareholders may
also obtain copies of the Schedule 14D-9, without charge, upon request to
Catherine Hughes, 613-728-0826 x1659, or catherine.hughes@corel.com.

The directors mandated to act as the Board with respect to this matter are
Daniel T. Ciporin, Steven Cohen and Barry A. Tissenbaum. The Board has retained
Genuity Capital Markets as its financial advisor and Bennett Jones LLP and Kaye
Scholer LLP as its legal advisors. Corel has retained Woodside Counsel, P.C. as
a legal advisor.

About Corel

Corel is one of the world`s top software companies with more than 100 million
active users in over 75 countries. We develop software that helps people express
their ideas and share their stories in more exciting, creative and persuasive
ways. Through the years, we`ve built a reputation for delivering innovative,
trusted products that are easy to learn and use, helping people achieve new
levels of productivity. The industry has responded with hundreds of awards for
software innovation, design and value.

Our award-winning product portfolio includes some of the world`s most widely
recognized and popular software brands, including CorelDRAW Graphics Suite,
Corel Painter, Corel DESIGNER Technical Suite, Corel Paint Shop Pro Photo, Corel
VideoStudio, Corel WinDVD, Corel WordPerfect Office, WinZip, and the recently
released Corel Digital Studio 2010. Our global headquarters are in Ottawa,
Canada, with major offices in the United States, United Kingdom, Germany, China,
Taiwan and Japan.

© 2009 Corel Corporation. All rights reserved. Corel, CorelDRAW, Paint Shop Pro,
Painter, Corel DESIGNER, VideoStudio, WordPerfect, WinDVD, WinZip, Digital
Studio, iGrafx and the Corel logo are trademarks or registered trademarks of
Corel Corporation and/or its subsidiaries. All other product, font and company
names and logos are trademarks or registered trademarks of their respective
companies.

CRELF

Corel Corporation
Catherine Hughes, 613-728-0826 x1659
catherine.hughes@corel.com

Copyright Business Wire 2009