"Anna has certainly proven that she is ready to assume the top job at Bitstream, having run the day-to-day operations of Bitstream for the past five years. She has led the company through these lean economic times with significant revenue growth while investing significantly in R&D," said Charles Ying. "As Bitstream builds up its market share, Anna is uniquely qualified to lead the company."

"I would like to thank Charles for his tenure as Chief Executive Officer. In his six years as CEO, he has diversified our product lines and driven new engineering projects, such as MyFonts.com, our showcase of the world's fonts from one easy-to-use Web site; ThunderHawk, our pioneering wireless Web browser; and Mpower, the first Web-based design application that lets companies offer interactive document editing to their customers," said Anna Chagnon. "I am extremely honored that the Board has appointed me to this position, and I look forward to taking the Company into its next phase of growth."

Ms. Chagnon holds an MBA, summa cum laude, from Babson College. She also holds a BS, summa cum laude, from Northeastern University, and a JD from Boalt Hall School of Law at the University of California at Berkeley.

About Bitstream Inc.
Bitstream Inc. ( NASDAQ:BITS ) is a software development company that focuses on the presentation of data. Bitstream enables customers worldwide to render high-quality text, browse the Web on wireless devices, select from the largest collection of fonts online, and customize documents over the Internet. Its core competencies include font technology, browsing technology, e-commerce technology, and publishing technology. Bitstream's offering is made up of four distinct product lines:

Type and Technology
Bitstream is a leading developer of font technology, digital fonts, and custom font designs. Bitstream licenses its 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.

ThunderHawk
ThunderHawk is a client-server technology that brings full-featured wireless Web browsing to mobile devices. It gives customers complete Internet access to real Web pages while maintaining full text legibility. Now in alpha release, ThunderHawk Smartphone Edition enables consumers to browse the Web on smart phones. ThunderHawk Pocket PC Edition allows consumers to browse the Web on Pocket PC devices. ThunderHawk Enterprise Server is a client-server technology for corporations and telecommunications companies. Providing wireless Web browsing across networks, it gives a mobile workforce complete access to Internet and corporate intranet Web pages.

MyFonts.com
MyFonts.com is a showcase of the world's fonts available from one easy-to-use Web site. It provides the largest collection of fonts ever assembled for on-line delivery, and offers easy ways to find and purchase fonts on-line. MyFonts.com also offers unique typographic resources and forums for interacting with font experts. For details, visit http://www.myfonts.com, the Web site for finding, trying, and buying fonts on line.

Pageflex
Pageflex technologies have pioneered a new direction in composition software: Web-top publishing. Web-top publishing software helps novice users create high-quality printed products using intelligent, flexible templates, without installing or learning any new desktop publishing software. Pageflex templates are intelligent and flexible because professional designers can set rules to define which elements can change, how much they can change, and who can change them. Pageflex products thus maintain corporate identity and design integrity while enabling sophisticated customizing of documents.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties, including, without limitation, market acceptance of the Company's products, competition and the timely introduction of new products. Additional information concerning certain risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission, including Bitstream's Annual Report on Form 10-K for the year ended December 31, 2002.

Bitstream was founded in 1981 and is headquartered in Cambridge, Massachusetts. Find out more about Bitstream at http://www.bitstream.com .

Bitstream, Font Fusion, and TrueDoc are registered trademarks, and the Bitstream logo and ThunderHawk are trademarks, of Bitstream Inc. MyFonts.com is a trademark of MyFonts.com, Inc. Pageflex and Mpower are trademarks of Pageflex. Other technologies and brand names are used for information only and remain trademarks or registered trademarks of their respective companies.

Anna Chagnon
CEO
Bitstream Inc.
617.520.8619