Corel is Delivering on its Promises
CCN Disclosure - March 08, 2000 08:59
OTTAWA, CANADA--Corel Corporation's (NASDAQ: CORL, TSE: COR) Annual and Special Meeting of Shareholders, to be held today, willgive company officials and shareholders a chance to celebrate its accomplishments over the past year and look forward to another exciting year for the company.
Corel is delivering on the promises it made to shareholders at last year's meeting, including bringing Linux(r) to the desktop bylaunching its much-anticipated Corel(r) LINUX(r) OS. It also simultaneously released new versions of its flagship software applications, WordPerfect(r) and CorelDRAW(r).
"We've had an exciting year at Corel! The successful releases of our flagship brands - WordPerfect Office 2000 and CorelDRAW - combined with our groundbreaking work on Linux has earned us a leadership position in the industry," said Dr. Michael Cowpland, president and chief executive officer of Corel Corp. "We've earnedour leadership position by delivering exciting new technology to the market. Through our strategic partnerships and ongoing commitment to compatible, cross-platform solutions, we will provide our customers with the bridge that links them to the Web and the next generation of computing."
Here are just some of Corel's accomplishments over the past year:
Award Winning on Windows(r) Platform
- CorelDRAW wins more than 50 international awards, including PC World's World Class Award (July 1999) and Computer Shopper's Best Buy Award (August 1999).
- WordPerfect Office Suites win 19 international awards, includingfirst prize in the word processing category of Winmag.com's WinList (August 1999) and Home Office Computing's Gold Award (November 1999).
Corel(r) & Linux(r): Breaking New Ground
- Historic launch of Corel LINUX OS at Fall Comdex in Las Vegas - November 15, 1999. Corel delivers the power of Linux to the desktop!
- Winning industry praise: named CNET's Editor's Choice (December 1999) and rated best of seven major Linux distributions with the highest score of nine out of 10; wins five-star review from PC Magazine (March 2000); crowned Show Favorite - Development Tools at LinuxWorld Expo (February 2000).
- Popular support: Corel(r) WordPerfect(r) 8 for Linux(r) and Corel LINUX OS are currently rated No. 1 and No. 2 for Linux downloads, respectively, on cnet.com's download site; Corel LINUX OS was recently rated as one of 10 "Must Have" downloads off CNET's site. On this site alone, Corel LINUX OS had nearly 200,000download attempts, while Corel WordPerfect 8 for Linux had nearly one million download attempts.
- IDC ranks Corel as a key Linux vendor along with Red Hat(tm), Caldera(r), Turbo Linux(r) and SuSE.
- $3.2 million US in sales for Corel LINUX OS in Q4 1999, the first quarter of its shipping.
- Coming Soon: WordPerfect Office 2000 for Linux is scheduled to be available in Spring 2000 (the beta version won Byte.com's Best of Show for office suites at Fall Comdex in November 1999); CorelDRAW for Linux is scheduled to be available in late summer of2000.
Partnerships for Growth
- Corel enters agreements with various OEM partners, including onewith PC Chips to bundle Corel LINUX OS with every computer motherboard package shipped worldwide.
- Strategic investments: Corel creates Linux affiliates by purchasing a stake in Newlix Corporation, OE/ONE.com and LinuxForce Inc.; Corel acquires GraphicCorp., a leading supplier of clipart, photographs and Web images to software publishers and hardware manufacturers.
Bridging to the Future
Corel is looking forward to the future and the next generation of thin-client Internet appliances. As the world moves to the Web, companies that develop open, compatible solutions will be well positioned to embrace the business models of the future. Using open technologies such as Linux, CORBA and XML including WAP and SVG, Corel will bridge the gap between closed, proprietary systemsand a new world where greater openness, innovation and customization will be the norm. Long a supporter of open standardsand platform agnostic solutions, Corel recognizes the exciting opportunities presented by the Internet and looks forward to providing customers with the applications they need to fully embrace the power of the Web.
The Annual and Special Meeting of Shareholders will be Webcast on www.corel.com/agmwebcast99/index.htm starting at 2 p.m. Additionalinformation on Corel's successes over the past year can be found in other documents, including the 1999 annual report, posted on the site.
Corel Corporation
Corel Corporation is an internationally recognized developer of award-winning business productivity, graphics and operating systemsolutions on the Windows(r), Linux(r), UNIX(r), Macintosh(r) and Java(tm) 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 www.corel.com or www.corelcity.com. Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock Market(sm) under the symbol CORL and on the Toronto Stock Exchangeunder the symbol COR.
This press release contains statements that are forward looking asthat 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, WordPerfect, CorelDRAW and the Go Further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. UNIX is a registered trademark of The Open Group. All other product names are trademarks of their respective companies. All other brands and products referenced herein are the trademarksor registered trademarks of their respective holders.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corel Corporation
Stefania Allevato (Canada)
(613) 728-0826 ext. 5003
(613) 286-0197 (cell)
E-mail: stefaniaa@corel.ca
or
Corel Corporation
Catherine Hughes (U.S.)
(613) 728-0826 ext. 1659
(613) 291-4026 (cell)
E-mail: catherineh@corel.ca
or
Corel Corporation
John Hladkowicz (Investor Relations)
(613) 728-0826 ext. 1194
(613) 762-7835 (cell)
E-mail: johnh@corel.ca
INDUSTRY: CPR
SUBJECT: MTG |
