Greaves Cotton Limited Expands Adoption of PTC’s Windchill for Product Lifecycle Management

All Business Units To Standardize On Windchill For Product Development

NEEDHAM, Mass. — (BUSINESS WIRE) — February 16, 2010 — PTC (NASDAQ: PMTC), the Product Development Company®, today announced that Greaves Cotton Limited, a leading manufacturer of industrial products has chosen to expand enterprise wide adoption of PTC’s Windchill® across all four business units – Gasoline/Diesel Engines, Diesel Gensets, Automotive Engines, Agro Equipment and Construction Equipment. Windchill will be used to streamline and optimize Greaves Cotton’s product development processes. Greaves Cotton is an existing customer of the PTC® Product Development System (PDS), using Pro/ENGINEER® for CAD/CAM/CAE, Arbortext® for Service Information Delivery and Mathcad® for Engineering Calculations.

The expanded deployment of Windchill will enable Greaves Cotton to reduce time to market for its products, provide tighter communication between Research & Development and Manufacturing and be more responsive to customers’ changing requirements. Additionally, Greaves is considering implementing an integration between Windchill and the company’s Enterprise Resource Planning solution from SAP to increase the rate of innovation and new product development, optimize product development processes and enhance overall product quality.

“We conducted a detailed evaluation of our business needs and available product lifecycle management solutions in the market, and finally selected Windchill based on its integral architecture, interoperability with legacy and competitive systems, and robust capabilities, along with PTC’s technical support and services strengths. This adoption of Windchill will strengthen alignment between our product development capabilities and our business strategies, enabling Greaves Cotton to achieve our corporate and long term objectives, such as process optimization, innovation and globalization,” said Mr. Thomas Furtado, Group General Manager - Marketing Services, Greaves Cotton Limited.

“PTC has continued to invest in Research & Development, making key strategic acquisitions and forging strategic partnerships to provide customers with a comprehensive integrated product development solution built on Windchill integral architecture,” said Robert Kocis, Senior Divisional Vice President, Worldwide Channel Sales, PTC. “We are happy to broaden our partnership with Greaves Cotton, a strategic global customer, and believe that its expanded deployment of Windchill and the PDS to increase operational efficiencies will help Greaves strengthen its competitive advantage.”

About Greaves Cotton Limited

Greaves Cotton Limited, a multi-product, multi-location company is one of the leading engineering companies in India, with core competencies in diesel / gasoline engines and construction equipment. Greaves Cotton sustains its leadership through nine manufacturing units which produce world class products backed by comprehensive marketing and service / parts network. The Company’s manufacturing operations are supported by its own full fledged R&D capabilities. For more information on Greaves Cotton, please visit http://www.greavescotton.com.

About PTC

PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development. Using the company’s PLM and CAD solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Retail & Consumer and Medical industries are able to support key business objectives and create innovative products that meet customer needs and comply with industry regulations. For more information on PTC, please visit 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 risks and uncertainties include: PTC's successful development and integration of the technologies necessary to offer integrated PLM solutions that address evolving product lifecycle management functions including integration with ERP and other business systems; the success of PTC’s customer satisfaction initiatives in providing the foundation for long-term relationships and repeat business; together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q. The announcement of any particular selection of PTC products or the planned utilization of services is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period.

PTC and its logo, The Product Development Company, Pro/ENGINEER, Wildfire, Windchill, Arbortext, Mathcad and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and in other countries.



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