WALTHAM, Mass., July 24, 2000 - As part of its focus on the aerospace industry, PTC (Nasdaq:PMTC), a leading provider of collaborative product commerce (CPC) solutions, today showcased its part in the design of NASA's X-38 Crew Return Vehicle. The X-38, the pathfinder for the lifeboat at the International Space Station, is a collaborative design effort of hundreds of people in 17 different countries.

Implementing PTC solutions radically decreased the X-38's time-to-market. Instead of the expected three-year, Aerojet created the model for the deorbit propulsion stage of the X-38, in just over a year and a half. The early completion of their project supports the first X-38 test flight from space to be scheduled for April 2002. The X-38 Program, once thought to cost billions, is now going to be designed and built, including test flight of two prototypes, for just 90 million dollars.

"At a time when the motto for businesses is 'faster, better, cheaper,' we needed to outperform previous projects in both quality and cycle time," states Aerojet Engineer Jim Hansen. "We've used Pro/ENGINEER successfully before in conjunction with many of our smaller projects; the next logical step was to incorporate this technology into the X-38 program. Other computer aided design (CAD) solutions are limited by their inability to interface with other disciplines and companies. Previously, the only method for Aerojet to communicate with vendors was via hard documentation. Pro/ENGINEER enabled us to wire information directly to vendors, saving valuable time and money." Hansen estimates that his team saved up to fifty percent of their time by utilizing Pro/ENGINEER to decrease interface time with everyone involved in the project.

Aerojet's success even impressed other PTC customers; Aerojet returned from PTC's 2000 Pro/USER International Conference in Orlando with a PTC Award for Innovative Computer Aided Design in the category of Aerospace.

Aerojet's relationship with PTC is ongoing; the company also takes advantage of the other Flexible Engineering solutions in conjunction with Pro/ENGINEER, including, Pro/MECHANICA. PTC is equally dedicated to Aerojet and the whole aerospace indsutry, providing innovative solutions for the aerospace industry, offering classes and on-site training.

"It's a mutually beneficial relationship. By creating products that enable companies to be time and cost efficient, we participate in some of the most exciting innovations in the aerospace industry today," said Barry Cohen, executive vice president of marketing at PTC. "In particular, it is necessary to understand and respond to the needs of specific industries. For example, the aerospace industry is currently dealing with the need for flexible design and production planning, decreased time to market cycles, and increased demand on design technology among other things. These are issues that we are addressing with our best-in-class software solutions for the collaborative product commerce market."

About PTC's Flexible Engineering Solutions
The PTC i-Series of flexible engineering solutions, based on PTC's award winning Pro/ENGINEER software and the practices of PTC Global Services, is a group of design and engineering solutions focused at addressing collaborative product commerce engineering initiatives. These solutions are relied on daily by more than 250,000 users to drive their worldwide product development and engineering functions. The solutions use unique approaches with many patent-pending and award-winning technologies such as Pro/ENGINEER behavioral modeling that captures engineering knowledge and allows designers to innovate new products more rapidly and effectively. The PTC i-Series of flexible engineering solutions, underpinned by PTC's Windchill software, also features Pro/MECHANICA, DIVISION, Pro/DESKTOP, ICEM, CDRS, InPart, CADDS 5i, and MEDUSA.

About PTC
PTC, founded in 1985 and headquartered in Waltham, Mass., USA (Parametric Technology Corporation), develops, markets, and supports collaborative product commerce (CPC) solutions that help manufacturing companies shape innovation and achieve sustainable competitive advantage in the Internet age. These B2B e-commerce solutions employ powerful Web-based collaboration and flexible engineering technologies to streamline product development and delivery processes. PTC's software solutions are complemented by the strength and experience of PTC Global Services, which provides training, consulting, support, and e-commerce services to customers worldwide. With PTC's CPC solutions, manufacturers can take advantage of the Internet to improve product quality, reduce costs, and shorten time-to-market cycles. PTC can be reached at 781-398-5000, or via the Web at http://www.ptc.com.

About Aerojet
Aerojet is a leader in propulsion, electronics and weapon systems. Aerojet is a segment of GenCorp, a technology-driven company with strong positions in polymer products, automotive, and aerospace and defense industries. Since its founding in 1942, Aerojet has led the way in the development of technology and products that have made their mark in history.