Creo appointed Mark Dance to CFO effective April 30, 2002. Mr. Dance retains his position as COO and will continue to serve as a director of the company. Mr. Dance will replace Michael Graydon. After Creo acquired the digital prepress assets of Scitex Corporation Ltd., Mr. Dance was appointed President of the graphics arts division, where he led the integration of two strong teams into a coherent global organization.

Effective immediately, Creo appointed Judi Hess to fill the position of President, Graphic Arts. Ms. Hess has held the position of Corporate VP, Printing Workflow Solutions since April 2000. She originally joined Creo in 1995 as Program Manager and was appointed Director of Workflow Products in 1998. From 1981-1995, Ms. Hess worked with MDA, a Canadian high-technology commercial and defense contractor. BR>For Q1, fiscal 2002, Creo recorded revenues of $139.5 million compared to $143.2 million in the fourth quarter of fiscal 2001. Adjusted loss for the first quarter of 2002 was $2.3 million or $0.05 per share (diluted).