Bitstream Announces Change in the Management of Its Pageflex Subsidiary

Bitstream Announces Change in the Management of Its Pageflex Subsidiary
Sang Lee, Vice-President of Sales & Marketing for Pageflex, to Pursue Other Opportunities

CAMBRIDGE, MA — August 01, 2002 — Bitstream Inc. (NASDAQ: BITS ), announced today that Sang Lee, Vice-President of Sales & Marketing for Pageflex, is leaving the company to pursue other opportunities.

"Sang Lee has been a tremendous asset in his 2 1/2 years at Pageflex. He has developed a strong customer base for Pageflex and increased Pageflex's revenues significantly. We wish him well in the future," said Charles Ying, Chief Executive Officer of Bitstream and President of Pageflex. "We remain very committed to the Pageflex business and expect to announce a replacement very shortly."

About

Bitstream Inc.
Bitstream Inc. ( Nasdaq:BITS ) is the leading developer of font technology, digital fonts, and custom font designs. Bitstream licenses its award-winning TrueDoc and Font Fusion technologies to Web and application developers, and to manufacturers of information appliances, wireless and handheld devices, set-top boxes, embedded systems, and printers. Setting the standard for excellence in font technology, Bitstream holds numerous key patents in the U.S. that cover the creation of portable fonts for the Internet. Building on this experience, Bitstream has released ThunderHawk, a breakthrough technology for the wireless Web.

Founded in 1981, Bitstream is the first digital font foundry. In 1999, Bitstream created MyFonts.com, Inc. (www.myfonts.com), the Web site for finding, trying, and buying fonts on line. Bitstream is headquartered in Cambridge, Massachusetts. Find out more about Bitstream at http://www.bitstream.com.

Pageflex

Pageflex (www.pageflexinc.com) is the leading developer of dynamic page composition technologies for a wide variety of markets including Web-to-print, cross-media publishing, document and on-demand marketing. Pageflex licenses its award-winning products worldwide to Web-to-print companies, application service providers, customer relationship management (CRM) companies, print service providers, and corporations.

The Company was established in 1999 as a wholly-owned subsidiary of Bitstream Inc.

Bitstream and TrueDoc are registered trademarks, and Font Fusion and ThunderHawk are trademarks of Bitstream Inc. Pageflex is a trademark of Pageflex Other technologies and brand names are trademarks or registered trademarks of their respective companies.

© 2004 Pageflex, the Pageflex logo, Mpower, .EDIT, and NuDoc are trademarks of Pageflex All other trademarks mentioned are for identification purposes only and may be trademarks of their respective owners.

Contact

Anna Chagnon
617.520.8619