Altair Engineering CEO James R. Scapa Named 2004 Entrepreneur of the Year -- Technology

TROY, Mich.--June 24, 2004--James R. Scapa, president and CEO of Troy, Mich.-based Altair Engineering Inc., named Eastern Michigan's 2004 Ernst & Young Entrepreneur of the Year in Technology.

The Ernst & Young Entrepreneur of the Year program has honored successful entrepreneurs since the award's inception in 1989. Nominees must be owners or top managers of private or public companies and primarily responsible for company performance. Criteria for selection include operating and job growth, financial earnings and revenue, and a corporate commitment to social and community involvement. Winners are chosen by an independent panel of distinguished business, academic and media persons.

"I am sincerely honored to have received this award," said Mr. Scapa, "I clearly owe this recognition to the talent and entrepreneurialism of the people in Altair. We've come a long way and I believe there is still far to go."

Along with two partners, Mr. Scapa founded Altair Engineering in 1985 as a product design consulting firm, with an investment of $1,500. Since then, the company has expanded its offerings to include advanced engineering software and grid computing technologies, in addition to high end product design and development consulting services. Altair comprises five lines of business, operating in 11 different countries with over 700 consultants and serving more than 1,800 clients worldwide. The company posted sales of $80 million in 2003. For the past two years, Altair has been named by the Michigan Business and Professional Association as one of Detroit's 101 Best & Brightest Companies To Work For.

Sponsored by Ernst & Young, the annual Entrepreneur Of The Year(R) award is presented to the most successful and innovative entrepreneurial business leaders in more than 30 countries around the globe. As part of the regional Eastern Michigan 2004 Entrepreneur of the Year program, local sponsors include, WJR, Crain's Detroit Business, Dykema Gossett, Marsh USA, Inc., the Michigan Economic Development Corp., and Seymour Gill Financial/MassMutual Financial Group.

About Altair Engineering

Through product design consulting, advanced engineering software and high performance computing technologies, Altair Engineering increases innovation for clients around the globe. Founded in 1985 and privately held with offices throughout 11 countries, Altair's unparalleled knowledge and expertise in product development and manufacturing extend throughout North America, Europe and Asia. As the developer of Altair(R) HyperWorks(R) - The Engineering Framework for Product Design(TM), Altair is the leading provider of high-end, open CAE software solutions for modeling, visualization, optimization and process automation. The company's grid computing software, PBS Pro(TM), is a workload management solution for high performance computing environments, LINUX clusters and desktop cycle harvesting that delivers an ROI within one year. For detailed information about Altair, visit www.altair.com.