IronCAD to add PTC’s Granite™ One to its Innovative Design Solutions

IronCAD strengthens its interoperability play with addition of Granite One

ATLANTA, GA — February, 26, 2002 — IronCAD, the innovative design collaboration solutions company, announced today that it has signed an agreement with PTC (Nasdaq: PMTC), the Product Development Company^TM, to offer interoperability solutions built on PTC’s Granite^TM One to end users. Granite One is an interoperability platform based on the geometry, feature and data exchange capabilities at the core of Pro/ENGINEER^®, PTC’s market leading 3D product development software.

Under the agreement, IronCAD has the option to utilize Granite as an interoperability solution or as a full-featured modeling kernel. As an interoperability solution, customers will be able to load native Pro/ENGINEER part and assembly files directly into IronCAD’s design and collaboration solutions (IronCAD and Inovate). It will also allow modeling data created within IronCAD or Inovate to be natively read by Pro/ENGINEER and other products built on Granite. Customers who chose Granite, as a modeling kernel will be able to create part geometry using the same kernel that powered Pro/ENGINEER to become a leading product development solution.

“No company knows more, does more or cares more about creating a better product development process for its customers than PTC,” said Brian Shepherd, senior vice president, MCAD Solutions & Technical Marketing, PTC. “We are partnering with companies like IronCAD because we realize that providing data interoperability for customers is of critical importance when designing and developing new products.”

“We are excited about the new opportunities that supporting Granite offers our customers,” said Dr. Tao Yang Han, president, IronCAD, LLC. “We have always felt as a company that the best way to truly provide interoperability between different CAD systems is through native kernel support. With the addition of Granite, we have moved one step closer to completing that vision.”

About IronCAD, LLC

Based in Atlanta, GA, IronCAD, LLC is a leading provider of innovative design collaboration solutions that deliver the highest levels of customer satisfaction and productivity. Its flagship product family, InnovationSuite, is a fully integrated design collaboration and information management environment that encourages creativity, productivity and teamwork with award winning 3D design and collaboration solutions managed through a Web-based Engineering Data Management (EDM) system. Components of InnovationSuite are used by customers throughout the world, including 3D Systems, Alcoa, The Boeing Company, Cisco Systems, and John Deere. For additional information, please contact IronCAD, LLC at 1-800-339-7304 or www.ironcad.com

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 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. These risks and uncertainties include: the acceptance of Granite as a development kernel and CAD interoperability solution; the success of any development efforts for products incorporating Granite; the potential for Granite to be used to develop products that compete with PTC offerings; and PTC's effective coordination and management of joint activities with software partners in order to deliver products, services and support that meet evolving customer 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 PTC's most recent reports on Form 10-K and 10-Q.

PTC, The Product Development Company, GRANITE, Pro/ENGINEER and all PTC product names and logos are trademarks or registered trademarks of Parametric technology Corporation or it subsidiaries in the United States and in other Countries.