Mechdyne and ModViz Agreement Allows for Affordable and Accessible Turnkey Visualization Solutions

Marshalltown, Iowa - - March 20, 2003 – Mechdyne Corporation and ModViz,
Inc. today formally announced an agreement to provide affordable and
accessible immersive visualization solutions for a wide range of industry
customers. The agreement opens new doors for both companies in the
emerging advanced immersive visualization industry.

Mechdyne is the largest developer of advanced immersive visualization
solutions for a wide range of applications including military control
rooms, to manufacturing review theaters, to oil and gas exploration centers.

ModViz’s software enables off-the-shelf PC clusters to generate and support
outstanding dynamic, real-time 3D visual imagery on a variety of displays,
including fully immersive environments. An emerging technology, “viz
clusters” are finding wide application in the oil and gas industry and the
manufacturing industry.

Said Bob Jacobson, ModViz CEO, “Working with Mechdyne, we can reach mutual
customers with complete, competent visualization solutions at a fraction of
the cost of traditional solutions. Our software products are considered
best-of-breed and so are Mechdyne’s environments, so we know we’re a good fit!”

According to Chris Clover, CEO & President of Mechdyne, “the partnership
between ModViz and Mechdyne takes immersive visualization one step further,
and enables both companies to offer the highest quality of turn-key solutions.”

Innovative solutions for the oil and gas industry, to support real-time
collaborative decision-making, top the companies’ agenda. The goal is to
make oil and gas E&P (exploration and development) more effective,
workflows more efficient, and the oil business more profitable overall.

About Mechdyne Corporation

As the world’s premier provider of immersive visualization solutions,
Mechdyne Corporation specializes in large-scale visualization systems,
high-fidelity simulators, and engineering consultation for aerospace,
automotive, manufacturing, military, research, and geophysical exploration
organizations. Alliances with respected equipment and software suppliers
allow the company to serve as a single-source provider of engineering,
installation, integration and support. Many of the world’s finest
businesses and organizations employ Mechdyne systems and services for
applications such as command and control, engineering design review,
virtual prototyping manufacturing process simulation, factory layout
design, and multivariate analysis. Headquartered in Marshalltown, Iowa,
Mechdyne also has offices in Houston, Detroit, San Francisco, Washington
D.C., and Ottawa, Canada.

Late in 2002, Mechdyne and Fakespace Systems Inc. announced that they have
signed a letter of intent to merge their businesses. The merged company,
which will be called Fakespace Systems, will be a visualization industry
powerhouse with unsurpassed depth of experience, the highest quality
technical solutions, and a reputation for exceptional service.

About ModViz, Inc.

A recent spinout from Siemens AG, ModViz, Inc., manufactures a unique brand
of software for PC-cluster-based, high-performance visualization. Its
software is considered “best of breed.” ModViz, based in Silicon Valley,
partners with leading companies in the fields of computer-based
visualization, oil and gas exploration and development, and manufacturing
design and testing to refine its products and accurately meet the needs of
industrial customers in these fields.

# # #

Editorial Contacts:

For Mechdyne Corporation:
Mike Hancock – (641) 754.4649, Email Contact

For ModViz:
Bob Jacobson – (650) 558.3880, Email Contact

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