Parametric Technology Receives $1 million order for Pro/ENGINEER® software and services from Vickers Shipbuilding & Engineering Ltd.

WALTHAM, Mass., March 26, 1997 -- Parametric Technology Corporation (NASDAQ: PMTC), developer of the Pro/ENGINEER® family of software tools used to automate the mechanical product development process, announced today that it has received a $1 million order for software and services from Vickers Shipbuilding & Engineering Ltd. (VSEL) of Barrow in Furness, Cumbria, UK. The software was shipped to the company during PTC's second quarter of fiscal 1997 (ending March 29, 1997).

VSEL, a member of the United Kingdom's GEC plc group of companies, is a world leader in both marine and land systems with emphasis on the design and construction of modern, highly sophisticated nuclear submarines, surface ships and large canon artillery weapon systems. The company will standardize on Pro/ENGINEER throughout its armament division, using its mechanical engineering and functional simulation capabilities for further development of the Ultra-Lightweight Field Howitzer for the U.S. Army and U.S. Marine Corps. The value of this defense contract to VSEL, including initial production options, is $150 million with a total program value of up to $1.5 billion.

Peter Kenyon, managing director of VSEL, Armaments said, "We believe the quality of our product and engineering teams has been fully complemented by the selection of Pro/ENGINEER software. We look forward to developing our team relationship with PTC as we pursue this very important program."

"I think it's significant to note that the contract was won using Pro/ENGINEER software," said C. Richard Harrison, president and chief operating officer for Parametric Technology. "Going forward, VSEL's investment in PTC's software will enable more effective communication throughout the organization and provide a competitive advantage for everyone involved in this collaborative effort."

Parametric Technology Corporation is the CAD/CAM/CAE industry's leading supplier of software tools used to automate the mechanical development of a product from its conceptual design through its release into manufacturing. Worldwide, nearly 12,400 companies employ PTC's integrated software technologies to reduce time to market, improve engineering processes and optimize product quality. Parametric Technology's growth strategy emphasizes technological leadership, aggressive price/performance, hardware independence, worldwide distribution and extensive customer support.

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 ability to anticipate and adequately respond to evolving customer requirements and to deliver products and services in a timely manner that meet those requirements 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 the PTC's most recent reports on Form 10-K and 10-Q.

Parametric Technology Corporation, Pro/ENGINEER, Pro/MECHANICA, Optegra and CADDS are registered trademarks, and all names in the PTC product family as well as the PTC logo are trademarks of Parametric Technology Corporation, or its subsidiaries, in the United States and in other countries. All other companies and products referenced herein have trademarks or registered trademarks of their respective holders.
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