TOYOTA and PTC Join In Development Effort For Engine and Drivetrain Development System

NEEDHAM, Mass., Oct. 22, 2003 -- PTC , the product development company(TM), today announced that Toyota Motor Corporation has signed a joint research and development agreement to expand the solutions available to powertrain product and process designers. The agreement includes development of capabilities designed to optimize Toyota's powertrain development process.

Since Toyota's first large implementation of Pro/ENGINEER in 2001, the company has expanded its commitment to PTC's solutions for engine and drivetrain development throughout the organization. PTC's development of a comprehensive Product Development System clearly aligns with Toyota's approach to product design and development and the two companies are planning for the deployment of PTC products and services for product lifecycle management solutions throughout Toyota's Engine and Drivetrain organization.

More than one third of the top 40 Automakers use Pro/ENGINEER for Powertrain development including such customers as VW, BMW, Hyundai, Fiat, Volvo Truck, Daihatsu, Hino Motors, Tata Motors, ZF, Mannesman AG, Visteon, Robert Bosch, Eaton, Dana, AVL, and Cummins.

"This agreement marks a significant milestone in our long and successful relationship with Toyota," said Dick Harrison, president and CEO of PTC. "Powertrain organizations face unique challenges in the broader transportation industry as development time, manufacturing ramp-up time, and quality become more critical for our customers around the world. We believe that our joint initiative with Toyota will give our highly practical and proven product development system for powertrain even greater capabilities to make our customers successful."

About PTC

PTC develops, markets, and supports software solutions that help manufacturers win with superior products. PTC is the world's largest software company with a total commitment to product development.