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Toyota Selects PTC Pro/ENGINEER for Drive and Power Train Design

NEEDHAM, Mass. – May 23, 2002 – PTC® (Nasdaq: PMTC), the product development company™, today announced that Toyota Motor Corporation has selected PTC's Pro/ENGINEER software solutions for its drive and power trains.

Toyota intends to use Pro/ENGINEER on designs of engines, power transmissions and other related devices in its car products.

Pro/ENGINEER is positioned to be a solution that improves the efficiency of the overall design process in a collaborative environment. It has excellent modeling capability and usability, as well as the ability to automatically propagate multiple design changes throughout the entire design process on a single database.

Toyota has evaluated the features and capability of Pro/ENGINEER in a realistic environment for many years and decided to select Pro/ENGINEER for the design of drive and power train.

About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that help manufacturers win with superior products. PTC is the world's largest software company with a total commitment to product development. The company services more than 33,000 customers worldwide. Further information on PTC is available at http://www.ptc.com.

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. Such risks are detailed from time to time in reports filed by PTC with the U.S. Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q. The announcement of any particular customer selection of PTC products is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period.

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