Thursday June 24, 10:21 am Eastern Time

### Company Press Release

## Parametric Technology Corp. Announces Winners of 1999 Pro/AWARD Competition

### Caterpillar Wins Top Honors for Second Straight Year

WALTHAM, Mass.--(BUSINESS WIRE)--June 24, 1999--Parametric Technology Corporation (NASDAQ:PMTC - news) today announced the winners of the seventh annual Pro/AWARD competition held this week at the Pro/USER International Conference in Dallas, Texas. The D9R Track-Type Tractor design submitted by Caterpillar Inc. received the Dr. Samuel P. Geisberg Award for the Best Overall Entry among a field of 514 entries from companies worldwide. Other winners included the aerospike rocket engine submitted by Boeing Company, Rocketdyne Power and Propulsion Systems and the Furby submitted by Hasbro Inc.

The Pro/AWARD competition is an international forum for PTC customers to display their successful achievements using the PTC i-Series products, including Pro/ENGINEER, Pro/DESKTOP, Pro/MECHANICA, Pro/NC and CDRS. Designs are represented within nine industry categories: aerospace, consumer products, education, electronics, heavy equipment, industrial equipment, medical equipment, transportation, and miscellaneous.

For the second straight year, Caterpillar captured both the Best Overall and Heavy Equipment industry awards. This year's winning model highlights internal components of the next generation of Caterpillar's D9R Track-Type Tractor, including the engine, hydraulics and powertrain. Since the entire current-production tractor already had been created in Pro/ENGINEER, Caterpillar was able to reduce the design time necessary to implement changes and improvements driven by market and regulatory requirements.

``The use of Pro/ENGINEER is a vital part of Caterpillar's commitment to concurrent product and process development,'' said Kurt Riggenbach, a Caterpillar designer. ``With a virtual tractor built in Pro/ENGINEER, assembly concerns can be addressed long before the first tractor moves down the assembly line.''

``The entries in our Pro/AWARD competition highlight the innovative ways our customers are using PTC software to quickly generate new products that keep them ahead of the competition,'' said Jim Baum, PTC's executive vice president, engineering, research and development. ``Each design in this contest demonstrates how Pro/ENGINEER is helping our customers around the globe become more competitive by increasing product quality, while reducing development time and costs.''

All entries to the Pro/AWARD competition are judged by participants at the Pro/USER Conference based on their comprehensive use of PTC products, creativity and technical merit. Submissions are also evaluated on the benefits each design or design process has provided to the entrant's company. Individual winners are selected for each industry category.

Individual category winners for the 1999 competition included:

- Aerospace - The Boeing Company, Rocketdyne Propulsion and Power Systems (Canoga Park, Calif.) - XRS - 2200 Linear Aerospike Rocket Engine;
- Consumer Products - Hasbro, Inc. (Pawtucket, RI) - Furby;
- Education - Research and Development Institute of Industrial Production Technology (RDIPT) (Bangkok, Thailand) - Titanic;
- Electronics - EMS Technologies (Norcross, Ga.) - Spherical Microwave Lens;
- Heavy Equipment - Caterpillar Inc. (East Peoria, Ill.) - D9R Track-Type Tractor;
- Industrial Equipment - Chemical Automatics Design Bureau (CADB) (Voronezh, Russia) - Screw Pump;
- Medical Equipment - Tyco Healthcare Group, United States Surgical Corporation (North Haven, Conn.) - AV Fistual One Shot Vescular Clip Applier;
- Miscellaneous - Therefore Ltd. (London, U.K.) - Cellular Operations HQ Building; and
- Transportation - Liebherr Machines Bulle SA (Nenzing, Austria) - V8 Diesel Engine D9408 TI-E.

All of this year's competition entries can be viewed at http://www.ptc.com.

Editor's Notes: The images of this year's winning entries can be downloaded from http://www.ptc.com/award/1999/winners/.

About PTC

Parametric Technology Corporation, founded in 1985 and headquartered in Waltham, Mass., develops, markets and supports integrated product development and lifecycle management solutions that help companies spur innovation and achieve sustained competitive advantage. PTC's software solutions are complemented by the strength and experience of its professional services organization, which provides training, consulting and support to customers worldwide. In its fiscal year ended September 30, 1998, the company achieved more than $1 billion in revenue. PTC can be reached at 781-398-5000, or via the Web 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. These risks and uncertainties include PTC's ability to anticipate and adequately respond to evolving customer requirements and to deliver products and services 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 PTC's most recent reports on Form 10-K and 10-Q.

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

Contact:

         Parametric Technology Corporation
         (Investor Relations Contact)
         John W. Hudson, 781/398-5561
         jhudson@ptc.com
         or
         (Public Relations Contact)
         Kristen Reidt, 781/398-5628
         kreidt@ptc.com

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