Hyundai Motors Selects PTC Windchill for its Drive and Power Train Business

-- Aiming for global collaborative manufacturing environment in manufacturing process innovation and standardization --

NEEDHAM, Mass., March 15 -- PTC(R) today announced that Hyudai Motor Company, the largest Automotive manufacturer in Korea, has selected PTC as a PLM solution provider for the Power Train Business Division. This contract marks the second PTC Windchill deployment for Hyundai Motor Company since its application by the Ulsan Tooling Center in 2001.

Under the terms of the contract, PTC will provide Windchill to Hyundai motors' Drive and Power Train Business Division. In addition, PTC and Hewlett Packard together will provide the IT consulting services for software implementation.

Hyundai Motor Company adopted the Windchill solution for its Power Train Business division (engines and transmission sector) before incorporating the PLM system within the entire company, as a part of its Collaborative Product Development System (CPDS) PLM project. Hyundai Motor Company has spent more than 24 months since 2001 with more than 100 participants to streamline the process and evaluate the system before finally selected PTC's Solution- Windchill. The first phase system implementation is scheduled from March 2004 to November 2004.

  Major objectives of the CPDS PLM project include:

  -- Maximization of research and development productivity and process
     renovation.
  -- Strengthening of collaborative product development capabilities.
  -- Reduction of manufacturing and development costs as well as product
     development time, and securing capability to cope with customer's
     requirements.

"The PLM project at this time is a part of our major efforts to maximize product development productivity in order to be a world 'top five' car manufacturer," said Paeng Jung-Kook, EVP and CIO of Information and Technology Center at Hyundai Motor Company. "By making the most of the Windchill solution, which is an outstanding PLM solution from PTC, we aim to develop a successful Collaborative Product Development System based on partnership between Hyundai Motor Company and PTC."

"PLM system development for Hyundai Motor Company using the PTC solution means that the importance of the collaborative manufacturing environment is being widely recognized by the traditional Korean car manufacturing industry," said Paul Cunningham, PTC Executive Vice President of Sales. "Until now, PLM solutions in Korea have been mainly adopted by the electronics, electricity and some conglomerate companies. The contract with Hyundai Motor Company following wins with Toyota Motors in Japan, Volkswagen in Germany, and First Autoworks in China, shows that the world's leading automotive manufacturers are choosing the PTC PLM solution. This solution delivery to Hyundai Motor Company will help us maintain our leading position in the Korean PLM market."

About Hyundai Motor Co.

Established in 1967, Hyundai Motor Co. has grown into the Hyundai Automotive Group, which includes Kia Motors Corp. and over two dozen auto- related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com/

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. The company services more than 33,000 customers worldwide. Further information on PTC is available at http://www.ptc.com/.

Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include: the success of our initiatives to facilitate our customer's understanding of the benefits of our integral PLM solutions, including return on investment and value creation; Our ability to successfully develop, integrate and support the technology necessary to deliver products and services that anticipate and adequately respond to evolving customer requirements; our ability to realize revenue from the larger, strategic business opportunities we are pursuing as well as from our point solutions based on Windchill technology; the success of our partnering, distribution and customer satisfaction initiatives; the success of our Windchill integrated solutions strategy initiatives, including our efforts to successfully compete in the MCAD industry by differentiating our MCAD offerings by targeting synergies with Windchill; the success of our cost reduction initiatives; and the effects of a weakened economy which may impact the overall demand for software and related services; as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q.

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