UGS Reports Q1 Revenue

EBITDA represents net income (loss) before interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to give effect to certain items that are required in calculating covenant compliance under our senior secured credit facility entered into May 2004. Adjusted EBITDA is calculated by subtracting from or adding to EBITDA items of income or expense as described below. EBITDA and Adjusted EBITDA are not recognized terms under generally accepted accounting principles, or GAAP. EBITDA and Adjusted EBITDA do not represent net income, as that term is defined under GAAP, and should not be considered as an alternative to net income as an indicator of our operating performance. Additionally, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management or discretionary use as such measures do not consider certain cash requirements such as capital expenditures (including capitalized software expense), tax payments and debt service requirements. UGS Corp. considers EBITDA and Adjusted EBITDA to be key indicators of our ability to pay our debt. We have included information concerning EBITDA and Adjusted EBITDA because we use such information in determining compensation of our management and in our review of the performance of our business. EBITDA and Adjusted EBITDA as presented herein are not necessarily comparable to similarly titled measures. The following is a reconciliation of EBITDA and Adjusted EBITDA to net income (loss), the GAAP measure we believe to be most directly comparable to EBITDA and Adjusted EBITDA (in thousands).


                                                   Three months  Three months
                                                      ended          ended
                                                     March 31,      March 31,
                                                       2006           2005
    Reconciliation of net loss to EBITDA:
    Net loss                                        $(19,154)       $(8,169)
    Interest expense                                  26,447         21,163
    Benefit for income taxes                         (10,508)        (3,974)
    Depreciation and amortization                     51,285         37,534
    EBITDA                                           $48,070        $46,554

    Reconciliation of EBITDA to Adjusted EBITDA:
    EBITDA                                           $48,070        $46,554
    Impact of revenue reduction resulting
     from purchase accounting (A)                        189          4,638
    Restructuring (B)                                   (535)           ---
    Other items (C)                                    3,970          2,037
    Currency translation impact (D)                   (3,467)         3,082
    Adjusted EBITDA                                  $48,227        $56,311

     (A)  Removes the purchase accounting impact for the adjustment to
          deferred revenue.
     (B)  Removes the impact of the restructuring.
     (C)  Represents the impact of management, consulting and advisory fees
          and related expenses paid to our parent companies and affiliates of
          each of our sponsors, severance related expenses, and expenses
          associated with our retention incentive plan for certain members of
          management.
     (D)  Represents the net effect of unrealized gains and losses from
          revaluing the intercompany debt that resulted from the acquisition
          of UGS PLM Solutions Inc. and from hedging obligations used to
          offset foreign exchange currency balance sheet exposures

CONTACT: financial analysts, Doug Barnett, +1-972-987-3352, or
Email Contact , or media, Mendi Paschal, +1-972-987-3210, or
Email Contact , both of UGS

Web site: http://www.ugs.com/



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