COREL CORP
			Symbol			CREL

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Corel Holdings Launches All-Cash Tender Offer for All Outstanding Common Shares of Corel Corporation at U.S. $3.50 per Common Share

2009-10-28 17:27 ET - News Release

SAN FRANCISCO, CA -- (MARKET WIRE) -- 10/28/09

Corel Holdings, L.P. ("CHLP"), a limited partnership controlled by an affiliate of Vector Capital, today announced that it has formally commenced an all-cash tender offer to acquire all of the issued and outstanding common shares of Corel Corporation (NASDAQ: CREL) (TSX: CRE) at a price of U.S. $3.50 per share, net to the seller in cash, without interest and less applicable withholding taxes. The tender offer is scheduled to expire at midnight, New York City time on Wednesday, November 25, 2009.

"After a lengthy effort to explore all opportunities to maximize shareholder value and numerous discussions with the disinterested directors of Corel Corporation, we have determined that this is the right time to take the company private and that our offer provides an opportunity for the company's minority shareholders to realize immediate liquidity and a substantial premium to the value that could be obtained by selling in the market should Corel remain public," said Amish Mehta, partner at Vector Capital. "The company faces substantial operational challenges and a near term imperative to resolve covenant compliance issues under its credit facility. We are willing to take on these risks, and believe our offer is fair to the company's minority shareholders."

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