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Aspen Technology Announces Software Licensing Agreement with Nippon Oil Corporation

05/07/03

CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 7, 2003--

Leading Japanese petroleum company expands deployment of AspenTech's

production-planning software for the refining industry

Aspen Technology, Inc. (Nasdaq: AZPN) today announced a new software licensing agreement with Nippon Oil Corporation, the largest petroleum refining company in Japan. Under the terms of the agreement, the company will expand its use of AspenTech's production planning solution to its entire network of seven refineries.

The solution, which is based on the Aspen PIMS(TM) supply chain software, will enable Nippon Oil Corporation to maximize the utilization of its refineries, and increase the profitability of its extended production network. These efficiency improvements will be achieved by ensuring the company makes feedstock selections and production-planning decisions that are optimized for the overall network, rather than for individual refineries. This approach will also enable Nippon Oil Corporation to respond more effectively to customer demand.

"By implementing Aspen PIMS throughout our entire network, we will be able to make more informed decisions on crude selection and the scheduling of our refineries," said Keizo Takeuchi, General Manager of Engineering Dept. of Nippon Oil Corporation. "The technology will enable us to operate our refineries more efficiently, decrease our procurement costs and integrate key business processes. We believe this solution will provide significant business value for our company."

AspenTech's production-planning solution enables petroleum companies to support the migration of business operations from the traditional supply/push model to the more responsive demand/pull model. The implementation of Aspen PIMS will help Nippon Oil Corporation recognize and prevent production scheduling problems before they arise. The solution also supports improved operations planning throughout the production process from raw material recipes to process operations, product blending and product shipping.

"Our production planning solution has become a critical element of improving the efficiency of refinery networks throughout the world," said David McQuillin, President and CEO of AspenTech. "This success is a reflection of the significant value provided by our technology, and our 20-year track-record in successfully delivering solutions to the process industries. By enabling companies to optimize the performance of their manufacturing and supply chain operations, we can help them significantly improve their profitability and competitiveness."

The Aspen PIMS solution for production planning is an important element of AspenTech's solutions for Enterprise Operations Management in the petroleum industry. These integrated, enterprise-wide solutions combine engineering and manufacturing/supply chain technologies to help companies optimize the way they engineer and run their manufacturing and supply chain operations.

About Nippon Oil Corporation

Nippon Oil Corporation is a leading company in the Japanese oil refining industry, achieving annual revenues of 4 trillion JPY in Japan. The company has the largest refining capacity and retail system in the Japanese market, and has established a strong competitive position by adopting the latest manufacturing and information technologies within its refineries. The company is also fully committed to meeting the future needs of the energy market by ensuring that it can provide its customers with a stable supply of low cost energy, and by developing its entire network to deliver energy both reliably and efficiently. Nippon Oil Corporation operates seven refineries, located at Muroran, Sendai, Negishi, Yokohama, Osaka, Mizushima and Marifu, and with a total capacity of 1,167,000 bbl per day. For more information, visit www.nmoc.co.jp.

About AspenTech

Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for Enterprise Operations Management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, Foster Wheeler, GlaxoSmithKline, Shell, and TotalFinaElf. For more information, visit www.aspentech.com.

Certain paragraphs of this press release contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statement using the term "will," "should," "could," "anticipates," "believes" or a comparable term is a forward-looking statement. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including: AspenTech's lengthy sales cycle which makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in cyclical industries; adverse global economic conditions; AspenTech's ability to raise additional capital as required; the FTC's investigation of the Hyprotech acquisition; the outcome of AspenTech's restructuring plans; intense competition; AspenTech's need to develop and market products successfully; and other risk factors described from time to time in AspenTech's periodic reports and registration statements filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. Moreover, neither AspenTech nor anyone else assumes responsibility for the accuracy and completeness of any forward-looking statements. AspenTech undertakes no obligation to update any of the forward-looking statements after the date of this press release.

AspenTech, Aspen PIMS and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.


    CONTACT: For Media:
             Aspen Technology, Inc. Peter Watt, +44 1223 819-752
             peter.watt@aspentech.com
             or
             For Investors:
             Aspen Technology, Inc. Joshua Young, 617/949-1274
             joshua.young@aspentech.com

    SOURCE: Aspen Technology, Inc.