Volvo Group Selects PTC as Strategic Partner for Future PLM Solutions

NEEDHAM, Mass. — (BUSINESS WIRE) — May 27, 2009 PTC (Nasdaq: PMTC), The Product Development Company®, today announced that Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, has, in a directional decision, selected PTC as a strategic partner for the Volvo Group PLM solution.

“Our Windchill solution is a key strategic enabler for product development and manufacturing processes. By creating an environment that fosters internal, external and group-wide collaboration, PTC can help companies to drive competitive advantage,” said C. Richard Harrison, chairman and CEO, PTC.

“We know that the selection of a single strategic partner for such an important PLM solution is not an easy decision. Volvo Group has performed a comprehensive and extensive selection process and benchmark of leading PLM vendors and solutions. We are very satisfied that PTC in the end came up with the most convincing solution that best serves Volvo Group’s business needs. This selection underscores PTC’s strength in the product development industry and we look forward to continuing a long-term strategic partnership with the Volvo Group,” said James Heppelmann, president and chief operating officer, PTC.

About PTC Solutions for the Automotive Industry

PTC’s automotive design software tools enable effective automobile design and development in a heterogeneous environment and facilitate design and part reuse. Our automotive design software and collaboration tools make it easy to bring geographically dispersed design teams and production facilities together to dramatically reduce cycle times. Additionally, our dynamic publishing tools automate the technical publication creation process - shrinking costs and speeding up publishing times.

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 PTC’s CAD, and content and process management solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Consumer and Medical industries are able to support key business objectives and create innovative products that meet both customer needs and comply with industry regulations. For more information on PTC, please visit http://www.ptc.com.

The announcement of any particular selection or implementation of PTC products 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, Windchill, and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries.



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