FLEET, UK, 14 June 1999 - Parametric Technology Corporation (NASDAQ: PMTC), in conjunction with the UK Department for Education and Employment and Warwick Manufacturing Group, today announced the launch of The Schools' CAD/CAM Initiative.

Charles Clarke, MP Parliamentary Under Secretary for the DfEE, and senior figures from schools, business and higher education are meeting today at the University of Warwick to officially launch the project with 50 pilot schools across the UK. Through the use of leading computer-aided design and manufacturing technology, the project will help the schoolchildren of today become the design engineers and industry leaders of the future.

Central to the initiative is the donation of Pro/DESKTOP design software from Parametric Technology, the leading provider of mechanical design automation software worldwide. Professor Kumar Bhattacharryya of the Warwick Manufacturing Group and Steven Walske, chairman and CEO of PTC, originally conceived the project in 1998. As a result of their shared visions about the importance of technology and education, PTC offered to provide free design software to all 6,000 schools in the UK, an offer worth approximately �12 million, or US $19.2 million.

The DfEE proposal process included an extensive independent evaluation by the Design and Technology Association, an independent educational charity that will also oversee a managed programme to ensure the successful use of the software in schools.

"We are delighted to deliver this kind of initiative into UK schools," Walske said. "We know that out there in today's classrooms are great future British designers who can follow in the footsteps of people like Whittle and Dyson. This project will encourage students to think multi-dimensionally and to liberate their design ideas, and hopefully some of these students will progress to become eminent industrial designers."

"The need to improve the computer-aided design skills of school pupils has long been recognised," said Professor Battacharryya. "Unless we provide pupils with access to the latest high quality IT tools, we will not unleash the full design potential of our young people as we enter the new millennium. Thanks to Parametric Technology Corporation, that vision will now become a reality."

Andy Breckon, chief executive of Design and Technology Association, said, "This is an excellent opportunity to modernise the school curriculum, provide resources that will motivate young people, raise the UK's skill base in a key area of need for the British economy whilst promoting good relations between schools and industry."

Attending today's announcement will be teachers from the 50 pilot schools, executives from the software and machine tools industries, as well as representatives from major UK companies, such as British Aerospace, Rolls Royce and GEC. The representatives from private industry will be present to underline the importance of design automation software to UK industry.

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 around the globe. 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.

Parametric Technology Corporation is a registered trademark 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.