ProductFactory Launches to Address the Design and Development Needs of Global 1000 Companies

Company Improves the Efficiency and Effectiveness of Product
Development Organizations with First Deliverables-Based Program and
Portfolio Management Suite

MAYNARD, Mass., May 28, 2002 - Responding to the product development
needs of the Global 1000, ProductFactory launched today as the first
company to provide a phase-gate, deliverables-based product development
program and portfolio management solution. Leveraging the Internet,
ProductFactory accelerates supply chain dependent product development
programs for globally distributed teams. The Company plans to capture a
portion of the $20 billion market for collaborative product development
management solutions by selling to companies with complex supply chain,
design and development environments including those in the aerospace,
automotive and high tech industries.

Founders, Edward Fields, CEO; Steve Bowler, vice president of product
management; Neil Maguire, vice president of automotive operations; and
Jon Fenner, vice president of engineering, started ProductFactory and
designed the suite based on their decades of experience in product
development and the frustrations they experienced working with
traditional program management products.

"Companies today are under constant pressure to do more with less,"
said Edward Fields, ProductFactory's CEO and founder. "They're
pushed to bring the highest quality products to market -- and to do that
more quickly, efficiently and cost-effectively than ever before. When
companies miss launch dates or deliver flawed products because of poor
product development process compliance, revenue and shareholder value
suffer. ProductFactory builds predictability and measurement into the
product development process providing everyone from design engineers to
suppliers and senior executives with an exact picture of where the
programs and the portfolio stand."

Major companies in the aerospace, automotive and high tech industries
have deployed the ProductFactory suite and seen a significant return on
their technology investment by being able to deliver their products in a
more timely and efficient manner. One aerospace program of more than
275 team members including 80 suppliers and 180 geographically
distributed engineers reduced supplier selection and issue resolution
from weeks to hours.

"ProductFactory's suite provides us with a complete program
management solution that is only limited by our imagination," said Mike
Brown, CIO for Eclipse Aviation. "It provides a great framework for
solving all kinds of collaborative product development and supply chain
issues, delivering real, measurable value back to Eclipse Aviation."

The Company's ProductFactory suite - consisting of the pfDeliver,
pfPortfolio and pfConnect applications - is the industry's first
phase-gate, deliverables-based product and portfolio management suite
that allows for real-time access to program information across the
supply chain using an internet browser. It is the only solution that
not only increases the efficiency of product development teams, but
delivers decision support to senior management for optimizing product
development investments. Senior executives get succinct, easy to
understand data on product programs enabling them to quickly see which
programs are not meeting expectations or which need increased resource
allocation.

About the founders:
CEO Edward Fields was formerly vice president of marketing and
strategic alliances with Workgroup Technology Corporation. Steve
Bowler, ProductFactory's vice president of product management, served
as a division director of quality and a program manager at Raytheon
Electronic Systems. Neil Maguire, vice president of automotive
operations, was previously president of Automotive Systems Consulting.
Jon Fenner, vice president of engineering, was previously president of
Elite Resources.

About Product Factory:
ProductFactory, Inc. is headquartered in Maynard, MA with offices in
Detroit and Los Angeles. Formed in 1999, ProductFactory is an industry
leader in product development program and portfolio management. The
Company is run by a management team with decades of experience in PDM,
systems engineering and related technologies. ProductFactory sells to
companies with complex supply chain, design and development environments
including those in the aerospace, automotive and high tech industries.
The company's products interface with Parametric Technology's
(NasdaqNM:PMTC) Windchill and other PDM systems.

Note to Editors: Brands and products referenced herein are the
trademarks or registered trademarks of their respective holders.



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