IronCAD and Strategic Partner CAXA form International Joint Venture

IronCAD and CAXA combine resources to address the needs of a globally diverse product development community

ATLANTA, GA., April 6, 2004 — IronCAD, the Innovative Design Collaboration Solutions Company, and CAXA, the market leader and China’s largest domestic provider of CAD/CAM/PLM solutions today announced the creation of a new International Joint Venture Company aimed at better addressing the needs of a globally diverse product development community. The Joint Venture Company will be made up of representatives from both IronCAD and CAXA. The purpose of the Joint Venture Company will be for the setting of a common set of business goals and strategies that maximizes each company’s resources to effectively deliver the products, solutions and services demanded by their customers. The individual companies IronCAD and CAXA will be responsible for the tactical implementation of the global strategy in each of their respective geographies.

Over the last several years IronCAD and CAXA have enjoyed a very successful partnership and the establishment of a Joint Venture Company was the next logical step towards tightening the relationship. The Joint Venture Company will allow the customers of both IronCAD and CAXA to benefit in many positive ways.

CAXA’s customers will benefit from IronCAD’s award winning 3D design products, proven to be the fastest and easiest way to 3D for productivity minded companies worldwide. In addition they will be able to take advantage of IronCAD’s experienced and industry knowledgeable team that consistently delivers the creative design technologies required by today’s leading companies.

IronCAD's customers will immediately benefit from the addition of CAXA’s sizable, and experienced software development team. The larger combined team will dramatically accelerate the rate at which new customer driven functionality can be added to IronCAD’s products. Another benefit will come from CAXA’s third party developer network utilizing IronCAD’s API to develop additional add-on products. This will give IronCAD customers access to a broader range of complimentary third party applications. Additionally CAXA’s Product Innovation and Collaboration Management Solutions Suite will offer a future upgrade path to a fully integrated PLM offering.

According to Dr. Yi Lei, President of CAXA, “We could not be happier about the formation of a joint venture with IronCAD. We believe IronCAD’s innovative technology and industry vision will be vital in helping CAXA increase its market share and in establishing itself as the leading provider of Chinese focused PLM solutions. The joint venture with IronCAD will enable the creation of a true International Enterprise better able to meet the needs of a geographically disperse product development community.”

Dr. Tao-Yang Han, President of IronCAD LLC sums up the value of the Joint Venture by saying, “The formation of a joint venture with CAXA will positively impact several key elements of our overall business. On the product side IronCAD will be able to improve its products at a much faster pace including the addition of new vertical focused add-ons. On the sales side it will allow IronCAD to enjoy a much bigger share of the Chinese market as well as the rest of Asia. Lastly it is a major step towards realizing a strategic corporate goal of establishing a truly International Enterprise.”

About IronCAD, LLC
Based in Atlanta, GA, IronCAD, LLC is a leading provider of 3D Design Productivity Solutions that deliver the highest levels of customer satisfaction and productivity. Its flagship product IronCAD and the other members of InnovationSuite, provide a fully integrated design 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 (IronCAD, Inovate and TeamVault) are used successfully by thousands of customers worldwide. For additional information, please contact IronCAD, LLC at 1-800-339-7304 or www.ironcad.com.

About CAXA
CAXA is the market leader and largest Chinese provider of CAD/CAM/PLM solutions. For five consecutive years, CAXA has received the “Best-10 Awards” based on market surveys in the domestic software category. CAXA has more than 120,000 installations in China. CAXA has well established sales channels including 35 sales, training and service branches in the nation. More than 1,000 domestic colleges and universities have selected CAXA as their standard education and training software. For additional information, please visit www.caxa.com.