UGS Software to Help Legendary Automotive Manufacturer Implement 'Virtual Car Company' Business Model

    Cunningham Motor Company Partners with UGS to Enable its Resurgence To
                    Forefront of World's Automotive Stage

    CYPRESS, Calif., May 18 Cunningham Motor Company -- the
celebrated American sports car racing team of the 1950's -- is using UGS'
collaborative product development software technology to enable
the implementation of a "virtual car company" business model and the
development of the first true American Luxury GT car in nearly five decades.
Using this novel approach, Briggs Cunningham III, son of the company's founder
Briggs Cunningham Jr., and Bob Lutz, former Chrysler executive, will attempt
to return the Cunningham name and legacy to the forefront of the world's
automotive stage by leveraging UGS' capabilities.
    "The benefits of the 'virtual car company' concept are two-fold," says
John C. McCormack, president and CEO of Cunningham Motor Company.  "First,
American high-tech companies are now able to develop complex systems, designed
exclusively to meet Cunningham's specifications.  Second, outsourcing the
complete project to design houses and automotive technology specialists will
result in significantly lower capital investment.  By using the UGS software,
we will be allowed to tap into the extremely rich vein of independent
automotive talent, from designers to chassis developers to fabricators to
manufacturers, available throughout the United States."
    Powering the world's largest product development network, UGS offers
Cunningham Motor Company a single backbone environment for virtual product
modeling, visualization, simulation and information, as well as process
management.  By exploiting these new Internet-based collaborative commerce
technologies, Cunningham will have substantial competitive advantage in its
ability to tie together an extended supply chain with the digital product
model at its core.  This business logic will assure quality performance and
final assembly builds without the need for many of the costly physical
prototypes.
    The partnership with UGS will also permit Cunningham Motor Company to:

    -- Eliminate most physical prototypes

    -- Develop subsystems with near zero defects

    -- Virtually eliminate final assembly rework

    -- Minimize capital investment (i.e. tooling, plants)

    -- Achieve best in class concept-to-build cycle

    -- Dramatically reduce the applied engineering hours

    -- Significantly enhance communication with their supply and demand chains
       via visual collaboration over the Internet

    "I have been involved in a number of startups and this one might be the
most exciting," says McCormack.  "Not only will we produce an exhilarating
grand tourer, with unparalleled power, luxury and refinement; but we will
produce such a car without having to make investments in traditional
infrastructure, like an assembly plant."
    "The concept of a virtual car company is something that everyone is
thinking about," says Randy Redding, manager of the Automotive Industry Group,
UGS.  "What UGS is doing is bridging the gap between the idea and reality, and
becoming the key enabler of bringing a virtual car to market.  We are
extremely honored to be the primary technology partner to such a renowned
company and we look forward to returning Cunningham to the leading position it
once occupied."
    The parameters for the all-new Cunningham C7 call for a 3550 pound,
185 inch long, V12 powered 2+2 coupe with state of the art vehicle control
systems, all sourced within the United States.  It is scheduled for series
production in 2004, with a projected price tag of approximately $250,000.
Comparable automobiles include European models such as: the Ferrari 456 GT and
the 12-cylinder Aston Martin.

    About Cunningham Motor Company
    The Cunningham name has been synonymous with American sportscar racing
since the sports' "golden-age" of the 1950's.  During that time, Briggs
Cunningham produced a series of cars, the C-1 through the C-6.  In 1952,
Cunningham almost accomplished the impossible at the French classic 24-hour
race of Le Mans as the small American company challenged and nearly defeated
the European giants of Ferrari, Porsche, Jaguar, Aston Martin and Mercedes-
Benz.
    Taking its queue from this spirit and legacy of competitiveness, Briggs
Cunningham III, son of the company's founder Briggs Cunningham Jr., and Bob
Lutz, former Chrysler executive, are attempting to return the Cunningham name
and legacy to the forefront of the world's automotive stage by utilizing the
virtual car company business model.  Founded in 1999, Cunningham Motor Company
is introducing an all-new Cunningham C7, an American made luxury GT
(grand tourer) with a 500 horsepower V12 engine and a projected price tag of
$250,000.   Production is expected to begin in 2004.

    About UGS
    UGS is one of the world's fastest growing and most successful
software and services companies, dedicated to helping manufacturers optimize
their product lifecycle process. UGS' rich heritage and financial strength
have been established by consistently providing the industry's best product
development applications for over 25 years.  Today, UGS is distinguished as
the leading supplier of Internet-based product life cycle collaboration
solutions as well as the company that is creating the de facto industry
standards for the digital product.  With offices in over 30 countries around
the globe, UGS is the vendor of choice for open solutions that seamlessly
weave into any environment and create unprecedented value for the world's most
demanding customers.  In addition, UGS is the first company in its industry to
earn the ISO 9001/TickIT certification.  For more information please contact
UGS at 800-498-5351 or via the World Wide Web at http://www.ugs.com .

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information within is subject to change without notice and does not represent
a commitment on the part of Unigraphics Solutions Inc.

    CONTACT:  Jim Phelan of UGS, 314-344-5290, or jim.phelan@ugs.com .

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