8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 19, 2007

COREL CORPORATION

(Exact name of Registrant as specified in its Charter)

CANADA
(State or other Jurisdiction)
of Incorporation) 000-20562
(Commission
File Number) 98-0407194
(IRS Employer
Identification No.)

1600 Carling Avenue
Ottawa, Ontario
Canada
K1Z 8R7
(613) 728-0826
(Address of principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.02. Results of Operations and Financial Condition.
	Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
	Item 9.01 Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
EX-99.1: PRESS RELEASE
EX-99.2: PRESS RELEASE

Item 2.02. Results of Operations and Financial Condition.

          Today Corel Corporation issued a press release disclosing financial results for the fiscal quarter ended February 28, 2007. The text of the release is furnished herewith as Exhibit 99.1.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)  and (c) Today, Corel Corporation issued a press release announcing the appointment of Randy Eisenbach to the position of President and General Manager, Digital Media and Patrick Morley to the position of Chief Operating Officer. Messrs. Eisenbach and Morley have changed their positions within Corel Corporation and, as a result, Mr. Eisenbach will cease to be the chief operating officer and Mr. Morley will cease to be the Executive Vice President, Sales and Marketing for the Americas. The text of the release is furnished herewith as Exhibit 99.2.

Corel Corporation acquired Intervideo, Inc. in December 2006. With the InterVideo acquisition complete and the major integration activities progressing as planned, Corel Corporation has formed a new Digital Media business which will be lead by Mr. Eisenbach. The Digital Media business unit will include product management and strategy, product marketing and software development teams for Corel Corporation's portfolio of digital media technologies and products.

To further support Corel Corporation’s growth objectives, Patrick Morley will assume expanded responsibilities as Corel Corporation’s Chief Operating Officer. In this role, Mr. Morley will be responsible for driving operational efficiency and alignment across Corel Corporation’s global sales, marketing and operations functions. He will have direct responsibility for Corel’s customer-facing units in EMEA, Asia and the Americas, as well as Corel Corporation’s global marketing function. As COO, Mr. Morley will continue to build Corel Corporation’s capacity for expansion and growth through acquisition.

(e) The terms of employment, including compensatory and other arrangements for Messrs. Eisenbach and Morley have not changed as a result of their change in positions. For more information regarding the terms of their employment, please see Corel Corporation’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 23, 2007 (File No. 000-20562) and the exhibits thereto incorporated by reference to the Annual Report on Form 10-K.

Item 9.01 Financial Statements and Exhibits

          (d) The following exhibits are furnished with this Form 8-K:

99.1	Press Release dated April 19, 2007.
99.2	Press Release dated April 19, 2007.

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 19, 2007

COREL CORPORATION
By:	/s/ CHRISTOPHER DIFRANCESCO
	Name:	Christopher DiFrancesco
	Title:	Senior Vice President, Legal, General Counsel and Secretary

3

EXHIBIT INDEX

Exhibit	Description
99.1	Press release dated April 19, 2007.
99.2	Press release dated April 19, 2007.

4

EX-99.1

( BW)(COREL)(CREL)(CRE.TO) Corel Corporation Reports First Quarter
2007 Financial Results

    Business Editors

    OTTAWA--(BUSINESS WIRE)--April 19, 2007--Corel Corporation
(NASDAQ:CREL) (TSX:CRE) today reported financial results for its first
quarter ended February 28, 2007. Revenues in the first quarter of
fiscal 2007 were $52.6 million, an increase of 19% over revenues of
$44.3 million in the first quarter fiscal 2006. GAAP net loss in the
first quarter of fiscal 2007 was $11.9 million, or ($0.48) per share,
compared to a GAAP net loss of $1.6 million, or $(0.08) per share in
the first quarter of fiscal 2006.

    Non-GAAP adjusted net income for the first quarter fiscal 2007 was
$2.7 million, or $0.11 per diluted share, compared to non-GAAP
adjusted net income for the first quarter of fiscal 2006 of $6.8
million, or $0.33 per diluted share. Non-GAAP adjusted EBITDA in the
first quarter of 2007 was $8.7 million, compared to $14.4 million in
the first quarter of fiscal 2006.

    A reconciliation of GAAP net income to non- GAAP adjusted net
income and non-GAAP adjusted EBITDA is provided in the notes to the
financial statements included in this press release.

    "With revenue at the high end of our guidance and earnings above
guidance, Q1 was another solid quarter for Corel as we reported our
first combined results for Corel and InterVideo," said David Dobson,
CEO of Corel Corporation. "The strength of our existing portfolio was
demonstrated through the performance of WinZip, iGrafx, CorelDRAW
Graphics Suite and Paint Shop Pro. We achieved these results while
completing the acquisition of InterVideo and establishing a new
Digital Media business to pursue the significant market opportunities
we see ahead."

    Added Mr. Dobson: "I am pleased with the progress we have made in
advancing the integration and creating a global team that is well
positioned in the rapidly growing digital media market. With a proven
product portfolio, expanded distribution capabilities, and growing
traction in developing and emerging markets, Corel is poised to
capitalize on the growing market demand for compelling digital content
that is easy to create and share."

    Financial Guidance

    Second Quarter Fiscal 2007 Guidance

    Corel provided guidance for the second quarter ending May 31,
2007. The Company currently expects:

                                     Page 1



    --  Revenue in the range of $62 million to $64 million.

    --  GAAP net loss of $1.5 million to net income of $0.5 million
        and non-GAAP adjusted net income in the range of $7.5 million
        to $9.5 million.

    --  GAAP EPS of $(0.06) to $0.02 per share and non-GAAP EPS of
        $0.28 to $0.35 per share.

    Fiscal 2007 Guidance

    Corel provided guidance for the year ending November 30, 2007.

    The Company currently expects:

    --  Revenue in the range of $245 million to $255 million.

    --  GAAP net loss of $9 million to $6 million and non-GAAP
        adjusted net income of $33 million to $36 million.

    --  GAAP EPS of $(0.35) to $(0.20) per share and non-GAAP EPS of
        $1.25 to $1.40 per diluted share.

    Corel will host a conference call to discuss its financial results
at 4:30 p.m. Eastern Time today. To access the conference call, please
dial (800) 289-0494 or (913) 981-5520. A live webcast and replay of
the call will also be available through Corel's Investor Relations
website at http://investor.corel.com/events.cfm.

    Forward-Looking Statements:

    This news release includes forward-looking statements that are
based on certain assumptions and reflect our current expectations.
Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual
results, performance or achievements to differ materially from any
future results, performance, or achievements discussed or implied by
such forward-looking statements. Such risks include competitive
threats from well-established software companies that have
significantly greater market share and resources than us, new entrants
that benefit from industry trends, such as the increasing importance
of Internet distribution and open source software, and from online
services companies that are increasingly seeking to provide software
products at little or no incremental cost to their customers to expand
their Internet presence and build consumer loyalty. We rely on a small
number of key strategic relationships for a significant percentage of
our revenue and these relationships can be modified or terminated at
any time. In addition, our core products have been marketed for many
years and the packaged software market in North America and Europe is
relatively mature and characterized by modest growth. Accordingly, we
must successfully complete acquisitions, penetrate new markets or
increase penetration of our installed base to achieve revenue growth.
In addition, we face risks related to the acquisition of InterVideo,
Inc., including the risk that disruption from the transaction may make
it more difficult to maintain relationships with customers, employees,
or suppliers. We face potential claims from third parties who may hold
patent and other intellectual property rights which purport to cover
various aspects of our products and from certain of our customers who
may be entitled to indemnification from us in respect of potential
claims they may receive from third parties related to their use or
distribution of our products.

    These and other risks, uncertainties and other important factors
are described in Corel's Prospectus dated April 25, 2006, filed with
the Securities and Exchange Commission (The SEC) pursuant to Rule
462(b) of the rules and regulations under the Securities Act of 1933
and Corel's other filings with the SEC including Corel's form 10-Q for
the quarter ended August 31, 2006 under the caption "Risk Factors" and
elsewhere. A copy of the Corel Prospectus and such other filings can
be obtained on Corel's website or on the SEC's website a
http://www.sec.gov. http://www.sec.gov./ Certain of such risks are
also included in Corel's Canadian supplemented PREP prospectus dated
April 25, 2006 available at http://www.sedar.com. In addition, these
and other risks can be found in InterVideo's previous reports filed
with the SEC under the caption "Risk Factors" and elsewhere, including
InterVideo's 10-Q for the quarter ended September 30, 2006, which can


                                     Page 2


be found on InterVideo's website or on the SEC's website at
http://www.sec.gov. Forward-looking statements speak only as of the
date of the document in which they are made. We disclaim any
obligation or undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in our expectations or
any change in events, conditions or circumstances on which the
forward-looking statement is based.

    Financial Presentation and Use of Non-GAAP Measures:

    Our financial statements have been prepared in accordance with
U.S. generally accepted accounting principles, or GAAP, which differ
in certain material respects from Canadian generally accepted
accounting principles. In addition, our financial statements and
information in this release are presented in U.S. Dollars, unless
otherwise indicated. This news release includes certain non-GAAP
financial measures, such as adjusted net income and adjusted EBITDA.
We use these non-GAAP financial measures to confirm our compliance
with covenants contained in our debt facilities, as supplemental
indicators of our operating performance and to assist in evaluation of
our liquidity. These measures do not have any standardized meanings
prescribed by GAAP and therefore are not comparable to the calculation
of similar measures used by other companies, and should not be viewed
as alternatives to measures of financial performance or changes in
cash flows calculated in accordance with GAAP. Reconciliations of
these non-GAAP financial measures to the closes GAAP measures are set
out in the notes to the financial statements attached to this news
release.

    About Corel Corporation

    Corel is a leading developer of graphics, productivity and digital
media software with more than 100 million users worldwide. The
Company's product portfolio includes some of the world's most popular
and widely recognized software brands including CorelDRAW(R) Graphics
Suite, Corel(R) Paint Shop Pro(R), Corel(R) Painter(TM), Corel
DESIGNER(R), Corel(R) WordPerfect(R) Office, WinZip(R) and iGrafx(R).
In 2006, Corel acquired InterVideo, makers of WinDVD(R), and Ulead, a
leading developer of video, imaging and DVD authoring software.
Designed to help people become more productive and express their
creative potential, Corel's software strives to set a higher standard
for value with full-featured products that are easier to learn and
use. The industry has responded with hundreds of awards recognizing
Corel's leadership in software innovation, design and value.

    Corel's products are sold in more than 75 countries through a
well-established network of international resellers, retailers,
original equipment manufacturers, online providers and Corel's global
websites. The Company's headquarters are located in Ottawa, Canada
with major offices in the United States, United Kingdom, Germany,
China and Japan. Corel's stock is traded on the NASDAQ under the
symbol CREL and on the TSX under the symbol CRE.

    (C) 2007 Corel Corporation. All rights reserved. Corel, CorelDRAW,
Paint Shop Pro, Snapfire, Painter, Corel DESIGNER, WordPerfect,
WinZip, iGrafx, the Corel logo, InterVideo, Ulead, WinDVD and WinDVD
Creator are trademarks or registered trademarks of Corel Corporation
and/or its subsidiaries. All other trademarks are the property of
their respective holders.


                                     Page 3


    CRELF


Corel Corporation
Quarterly Financial results
For the quarter ended February 28, 2007
(in thousands, except per share data; unaudited)

Consolidated Condensed Statement of Operations
                                                            

                                            --------------------------
                                            Three Months ended Feb 28,
                                                2007          2006
                                            --------------------------

Revenues - Product                          $     47,304  $    39,498
Revenues - Maintenance and services                5,330        4,789
- ----------------------------------------------------------------------
Total revenues                                    52,634       44,287
- ----------------------------------------------------------------------

Cost of revenues - Product                         8,487        5,005
Cost of revenues - Maintenance and services          198          314
Amortization of intangible assets                  5,757        6,627
- ----------------------------------------------------------------------
Total cost of revenues                            14,442       11,946

- ----------------------------------------------------------------------
Gross margin                                      38,192       32,341
- ----------------------------------------------------------------------

Operating expenses
  Sales and marketing                             17,104       14,504
  Research and development                        11,344        6,181
  General and administration                       9,095        5,395
  Acquired in-process research and
   development                                     7,831            -
  InterVideo integration expense                     785            -
  Restructuring                                        -          560
- ----------------------------------------------------------------------
Total operating expenses                          46,159       26,640
- ----------------------------------------------------------------------
Income (loss) from operations                     (7,967)       5,701

Other expenses (income)
  Interest expense, net                            3,921        3,863
  Amortization of deferred financing fees            265          444
  Other non-operating income                        (632)        (120)
- ----------------------------------------------------------------------
Income (loss) before income taxes                (11,521)       1,514
Income tax provision                                 355        3,152
- ----------------------------------------------------------------------
Net loss                                    $    (11,876) $    (1,638)
- ----------------------------------------------------------------------

  Net loss per share:
    Basic                                   $      (0.48) $     (0.08)
    Fully diluted                           $      (0.48) $     (0.08)
  Weighted average number of shares:
    Basic                                         24,627       19,490
    Fully diluted                                 24,627       19,490





                                     Page 4


Consolidated Condensed Balance Sheet
                                                      

                                            --------------------------
                                            As of Feb 28, November 30,
                                                2007          2006
                                            --------------------------
Assets
  Current assets:
    Cash and cash equivalents               $     40,906  $    51,030
    Restricted cash                                  717          717
    Accounts receivable
      Trade, net                                  15,650       18,150
      Other                                        1,233          808
    Inventory                                      1,893          914
    Prepaids and other current assets              4,975        2,300
  --------------------------------------------------------------------
  Total current assets                            65,374       73,919

  Investments                                        203          203
  Capital assets                                   6,145        3,651
  Intangible assets                              110,666       37,831
  Goodwill                                        82,488        9,850
  Deferred financing charges and other
   long-term assets                                5,938        5,232
- ----------------------------------------------------------------------
Total assets                                $    270,814  $   130,686
- ----------------------------------------------------------------------


Liabilities and shareholders' deficit
  Current liabilities:
    Accounts payable and accrued
     liabilities                            $     62,858  $    28,220
    Due to related parties                             -          167
    Operating line of credit                      23,000            -
    Income taxes payable                           2,411          235
    Deferred revenue                              11,806       12,719
    Current portion of long term debt              2,637        1,426
    Deferred income tax liability                  4,972            -
- ----------------------------------------------------------------------
  Total current liabilities                      107,684       42,767

  Deferred revenue                                 1,748        2,015
  Deferred income tax liability                   14,830            -
  Income taxes payable                             9,875        8,488
  Long term debt                                 157,331       89,223
- ----------------------------------------------------------------------
Total liabilities                                291,468      142,493
- ----------------------------------------------------------------------

Shareholders' deficit
  Share capital                                   32,828       30,722
  Additional paid-in capital                       5,535        4,612
  Accumulated other comprehensive loss               (46)         (46)
  Deficit                                        (58,971)     (47,095)
- ----------------------------------------------------------------------
Total shareholders' deficit                      (20,654)     (11,807)
- ----------------------------------------------------------------------

- ----------------------------------------------------------------------
Total liabilities and shareholders' deficit $    270,814  $   130,686
- ----------------------------------------------------------------------



                                     Page 5


Consolidated Condensed Statement of Cash Flows
                                                        

                                            --------------------------
                                            Three Months ended Feb 28,
                                                2007          2006
                                            --------------------------

Cash flow from operating activities
Net loss                                    $    (11,876) $    (1,638)
  Depreciation and amortization                      702          399
  Amortization of deferred financing fees            265          444
  Amortization of intangible assets                5,757        6,627
  Stock-based compensation                         1,008          852
  Provision for bad debts                             16          122
  Deferred income taxes                           (1,035)         435
  Acquired in-process research and
   development                                     7,831            -
  Unrealized loss on foreign exchange
   contracts                                          35           28
  Gain on interest rate swap recorded at
   fair value                                       (191)           -
  Change in operating assets and
   liabilities                                    15,928       (1,343)
- ----------------------------------------------------------------------
Cash flow provided by operating activities        18,440        5,926
- ----------------------------------------------------------------------

Cash flow from financing activities
  Proceeds from operating line of credit          23,000            -
  Proceeds from long term debt                    70,000            -
  Repayments of long term debt                      (681)      (9,294)
  Proceeds from exercise of stock options          1,302            -
  Financing fees incurred                         (1,672)      (1,763)
  Other financing activities                           -           50
- ----------------------------------------------------------------------
Cash flow provided by (used in) financing
 activities                                       91,949      (11,007)
- ----------------------------------------------------------------------

Cash flow from investing activities
  Purchase of InterVideo Inc, net of cash
   acquired                                     (120,368)           -
  Purchase of long lived assets                     (110)        (430)
- ----------------------------------------------------------------------
Cash flow used in investing activities          (120,478)        (430)
- ----------------------------------------------------------------------

Effect of exchange rate changes on cash and
 cash equivalents                                    (35)         (37)

Decrease in cash and cash equivalents            (10,124)      (5,548)
Cash and cash equivalents, beginning of
 period                                           51,030       20,746
- ----------------------------------------------------------------------
Cash and cash equivalents, end of period    $     40,906  $    15,198
- ----------------------------------------------------------------------



                                     Page 6



Non-GAAP Results
(In thousands, except per share data)
                                                    

                                            --------------------------
                                            Three Months ended Feb 28,
                                                2007          2006
                                            --------------------------

Non-GAAP Adjusted Net Income Calculation:
    Net loss                                $    (11,876) $    (1,638)
    Amortization of intangible assets              5,757        6,627
    Tax benefit on amortization of
     intangible assets                            (1,035)           -
    Stock-based compensation                       1,008          852
    Restructuring                                      -          560
    InterVideo integration expense                   785            -
    Acquired in-process research and
     development                                   7,831            -
    Amortization of deferred financing fees          265          444
    ------------------------------------------------------------------
    Non-GAAP Adjusted Net Income            $      2,735  $     6,845
    ------------------------------------------------------------------
    Percentage of revenue                            5.2%        15.5%

    Pro-forma diluted non-GAAP adjusted net
     income per share                       $       0.11  $      0.33

    Shares used in computing proforma
     diluted non-GAAP adjusted net income
     per share                                    25,402       20,558

Non-GAAP Adjusted EBITDA Calculation:
    Cash flow provided by operating
     activities                             $     18,440  $     5,926
    Change in operating assets and
     liabilities                                 (15,928)       1,343
    Interest expense, net                          3,921        3,863
    Income tax expense                               355        3,152
    Deferred income taxes                          1,035         (435)
    Provision for bad debts                          (16)        (122)
    Unrealized losses on foreign exchange
     contracts                                       (35)         (28)
    Gain on interest rate swap recorded at
     fair value                                      191            -
    InterVideo integration expense                   785            -
    Restructuring                                      -          560
    Reorganizational costs                             -          117
    ------------------------------------------------------------------
    Non-GAAP Adjusted EBITDA                $      8,748  $    14,376
    ------------------------------------------------------------------
    Percentage of revenue                           16.6%        32.5%


Other Supplemental Information

Revenue by Product Segment
    Graphics and Productivity               $     34,064  $    36,637
    Digital Media                                 18,570        7,650
    ------------------------------------------------------------------
    Total                                   $     52,634  $    44,287
    ------------------------------------------------------------------

    As percentage of revenues
    Graphics and Productivity                       64.7%        82.7%
    Digital Media                                   35.3%        17.3%
    ------------------------------------------------------------------
    Total                                          100.0%       100.0%
    ------------------------------------------------------------------


Revenue by Geography
    Americas                                $     27,193  $    25,652
    Europe, Middle East, Africa                   17,658       15,784
    Asia-Pacific                                   7,783        2,851
    ------------------------------------------------------------------
    Total                                   $     52,634  $    44,287
    ------------------------------------------------------------------

    As percentage of revenues
    Americas                                        51.7%        57.9%
    Europe, Middle East, Africa                     33.5%        35.6%
    Asia-Pacific                                    14.8%         6.4%
    ------------------------------------------------------------------
    Total                                          100.0%       100.0%
    ------------------------------------------------------------------


Allocation of Stock-Based Compensation
 Expense
    Cost of revenues - Product              $          9  $         8
    Cost of revenues - Maintenance and
     service                                           2            2
    Sales and marketing                              270          191
    Research and development                         195           63
    General and administration                       532          588
    ------------------------------------------------------------------
    Total                                   $      1,008  $       852
    ------------------------------------------------------------------



                                     Page 7




    CONTACT: Corel Corporation
             Catherine Hughes, 613-728-0826 x1659 (Press)
             catherine.hughes@corel.com
             or
             The Blueshirt Group
             Todd Friedman, 415-217-7722 (Investor Relations)
             todd@blueshirtgroup.com
             Stacie Bosinoff, 415-217-7722 (Investor Relations)
             stacie@blueshirtgroup.com


                                     Page 8

EX-99.2

Exhibit 99.2

( BW)(COREL)(CREL)(CRE.TO) Corel Announces Executive Appointments

Chief Operating Officer and President, Digital Media to Play Key
Roles Driving Global Expansion and Growth

     Business Editors

     OTTAWA—(BUSINESS WIRE)—April 19, 2007—Corel Corporation (NASDAQ:CREL)(TSX:CRE), a leading developer of graphics, productivity and digital media software, today announced the appointment of Randy Eisenbach, formerly Chief Operating Officer, to the position of President and General Manager, Digital Media. The Company also announced today that Patrick Morley, formerly Executive Vice President, Sales and Marketing for the Americas, has been appointed to the position of Chief Operating Officer.

     With the InterVideo acquisition complete and the major integration activities progressing as planned, Corel has formed a new Digital Media business which will be lead by Mr. Eisenbach. Prior to joining Corel, Mr. Eisenbach held senior leadership positions at multinational firms including Enseo and 3dfx Interactive. Most recently, he played a key role leading Corel’s integrations of InterVideo, Jasc and WinZip.

     Corel’s Digital Media business unit will include product management and strategy, product marketing and software development teams for Corel’s complete portfolio of digital media technologies and products, including Corel(R) Paint Shop Pro(R), Snapfire™, WinDVD(R), Ulead DVD Movie Factory(R), Ulead VideoStudio(R), PhotoImpact(R) and Photo Express(R). With software research and development sites in the US, Canada, Taiwan and China, Corel’s digital media business is well positioned to capitalize on the growing demand for high quality digital photos, video and audio and the increasing adoption of digital cameras, camcorders and high definition enabled devices.

     To further support the Company’s growth objectives, Patrick Morley will assume expanded responsibilities as Corel’s Chief Operating Officer. In this role, Mr. Morley will be responsible for driving operational efficiency and alignment across the Company’s global sales, marketing and operations functions. He will have direct responsibility for Corel’s customer-facing units in EMEA, Asia and the Americas, as well as the Company’s global marketing function. As COO, Mr. Morley will continue to build the Company’s capacity for expansion and growth through acquisition.

     “I am delighted to have such experienced and capable leaders driving these key areas of Corel’s business,” said David Dobson, CEO of Corel Corporation. “Both Randy and Patrick bring significant industry insight and expertise to their roles, based on years of global experience in the high tech and software industry. Each has played an important part in transforming Corel into a focused and successful global software company. With the industry’s broadest portfolio of digital media software and established product lines in graphics and productivity, Corel is well positioned to leverage our global sales, marketing and distribution platform to capitalize on the market opportunities ahead.”

     About Corel Corporation

     Corel is a leading developer of graphics, productivity and digital media software with more than 100 million users worldwide. The Company’s product portfolio includes some of the world’s most popular and widely recognized software brands including CorelDRAW(R) Graphics

Page 1

Suite, Corel(R) Paint Shop Pro(R), Corel(R) Painter™, Corel DESIGNER(R), Corel(R) WordPerfect(R) Office, WinZip(R) and iGrafx(R). In 2006, Corel acquired InterVideo, makers of WinDVD(R) , and Ulead, a leading developer of video, imaging and DVD authoring software. Designed to help people become more productive and express their creative potential, Corel’s software strives to set a higher standard for value with full-featured products that are easier to learn and use. The industry has responded with hundreds of awards recognizing Corel’s leadership in software innovation, design and value.

     Corel’s products are sold in more than 75 countries through a

     well-established network of international resellers, retailers, original equipment manufacturers, online providers and Corel’s global websites. The Company’s headquarters are located in Ottawa, Canada with major offices in the United States, United Kingdom, Germany, China and Japan. Corel’s stock is traded on the NASDAQ under the symbol CREL and on the TSX under the symbol CRE.

     (C) 2007 Corel Corporation. All rights reserved. Corel, Paint Shop Pro, WinDVD, InterVideo, Ulead, Ulead DVD Movie Factory, Ulead VideoStudio, PhotoImpact, Photo Express and the Corel logo are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries. All other product names and any registered and unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of their respective owners.

     CRELF

     —30—

CONTACT:	Corel Corporation
	Catherine Hughes, 613-728-0826 ext. 1659 (Press)
	catherine.hughes@corel.com
	or
	The Blueshirt Group
	Todd Friedman, 415-217-7722 (Investor Relations)
	todd@famapr.com

Page 2