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Changing the paradigm - From Localisation Service Provider to Localisation Technology Developer

New start-up to change the image of the localisation industry and position Ireland as centre of innovation and technology development

DUBLIN – November 30, 2000 – Alchemy Software Development Limited is pleased to announce the acquisition of Corel CATALYST™, a market leader in integrated translation environments. In addition Alchemy Software Development is also announcing that Corel Corporation Limited has acquired a 24.9% equity interest in the company.

Alchemy Software Development is a company formed by the original developers of Corel CATALYST™. Tony O'Dowd, CEO of Alchemy Software Development, previously Executive Vice President and General Manager of Corel Corporation Limited, brings over 13 years development and globalization experience to the company and has been involved in the design and development of many of the pioneering localisation technologies used in this industry sector today.

“This is a tremendous deal for both Corel and Alchemy”, said Tony O'Dowd, CEO and President of Alchemy Software Development, “Corel retains usage of the technology within their localisation teams, ensuring that they can continue to release multiple language versions of their products efficiently and simultaneously, while Alchemy can focus on developing and supporting the technology for the existing and expanding customer base.”

“By acquiring Corel CATALYST™, Alchemy Software Development will help raise Ireland's profile as a center for innovation and technology development within the globalization industry worldwide. ”, said Enda McDonnell, Director of Engineering.

“Alchemy's primary focus will be to extend the appeal of Corel CATALYST™”, said David MacDonald, Chairman of Alchemy's Board, “by embracing newly emerging Internet technologies and providing solutions to our customers that want to release their software products in International markets quickly, efficiently and with high quality”.

Alchemy Software Development Ltd. has its headquarters in Dublin, Ireland at Harcourt Business Centre, Harcourt Street, Dublin 2.

Alchemy Software Development Limited Alchemy Software Development is a company formed by the original developers and designers of Corel CATALYST™, an integrated translation environment and a pioneer and leader in visual translation and engineering solutions. The founders of the company have formed a company dedicated to the support and ongoing development of this technology leader.

Corel CATALYST™ is designed to boost the efficiency and quality of globalizing software products and is used by over 200 software development and globalization companies worldwide. It is used by translators, software engineers, quality assurance specialists and project managers and is referred to as the Gold Standard in Localisation.

For more information on the company and its products, please refer to www.alchemysoftware.ie. (Available from 1st December 2000)

Corel Corporation

Corel Corporation is an internationally recognized developer of award-winning business productivity, graphics and operating system solutions on the Windows®, Linux®, UNIX®, Macintosh® and Java™ platforms. Corel also develops market-leading, Web-based solutions including applications, contents, e-commerce and online services. For access to these services and more information go to http://www.corel.com/ or http://www.corelcity.com/. Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock Market under the symbol CORL and on the Toronto Stock Exchange under the symbol COR.

This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission.

Corel, Corel CATALYST and the Go further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Windows is a registered trademark of Microsoft Corporation. Mac is a registered trademark of Apple Computer Inc. Linux is a registered trademark of Linus Torvalds. All other products, fonts, company names and logos are trademarks or registered trademarks of their respective owners.

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