PTC Amends Distribution Agreements with Rand Worldwide

PTC Continues Focus on Enhanced Distribution through Global Channel Growth

NEEDHAM, MA., December 10, 2002 - PTC (Nasdaq: PMTC), the product development companyTM, today announced it has amended its distribution agreements with RAND A Technology Corporation, which operates as RAND Worldwide (TSE:RND), in the North America, Western Europe and Asia Pacific regions, effective immediately.

The distribution agreements between PTC and RAND, originally set to expire on October 1, 2005, will now expire on December 31, 2003. Other significant modifications of the agreements include: Effective January 1, 2003 Rand's software discount will be reduced to match the discounts generally given to other PTC Value-Added Resellers. RAND will continue to provide training and consulting services through December 31, 2004, with an option to renew for one additional year; and RAND will be formally enrolled through September 30, 2005 in the PTC Enterprise Software Partner Program to enable RAND's development of complementary technologies.

"By restructuring our distribution arrangements with RAND, we are better positioned to focus PTC's global VAR network on selling PTC-related products and services to current and future PTC customers and to enhance the overall effectiveness of our distribution capabilities," stated Paul Cunningham, PTC's executive vice president, Worldwide Sales. The changes in PTC's distribution arrangements with RAND are not expected to have a material impact on results for PTC's quarter ending on December 28, 2002.

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. 

www.ptc.com

 

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