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Aspen Technology Names Blair Wheeler Senior Vice President, Marketing

02/23/05
Wheeler Brings 20-Year Track Record in Technology Marketing and Business Development

CAMBRIDGE, Mass., Feb 23, 2005 (BUSINESS WIRE) -- Aspen Technology, Inc. (Nasdaq:AZPNE), the leading provider of software solutions and services to the process industries, today announced that Blair Wheeler has joined the company's executive team as Senior Vice President, Marketing, with responsibility for worldwide marketing and business alliances.

Wheeler brings to AspenTech more than 20 years of experience in technology marketing, product management and business development, as well as an in-depth knowledge of the oil and gas industry. Prior to joining AspenTech, Wheeler co-founded and was Vice President of Marketing at Relicore, Inc., a privately-funded systems management company. Before establishing Relicore, he led strategic development projects for Cisco Systems' Application Technology Group following Cisco's acquisition of WebLine Communications, a provider of collaborative web-based customer service applications, where he was Vice President of Business Development.

Prior to his association with Cisco, Wheeler co-founded and developed the Broadcast Products Group at Avid Technology, the world leader in computer-based video and audio editing, special effects and production systems. Before joining Avid, he advised Global 2000 companies on business strategy, marketing, operations, process re-engineering, and mergers and acquisitions as a management consultant with The Boston Consulting Group. Wheeler began his career with Amoco Production Company, where he directed global exploration and development teams in the geological, geophysical, and economic assessment of oil and gas projects.

"Blair Wheeler's expertise in product management and marketing strategy, combined with his entrepreneurial experience, will be instrumental in helping us to increase the market adoption of our newly-launched aspenONE(TM) solutions," said Mark Fusco, President and CEO, AspenTech. "He brings an exceptional blend of process industry expertise and technology marketing knowledge that will help us to dramatically strengthen our sales and marketing efforts."

"AspenTech has established a strong franchise over the past 23 years by delivering solutions that significantly improve our customers' operating performance," said Wheeler. "With the recent launch of our unified aspenONE solution set, we are in a position to offer even greater value. I look forward to working with our customers, partners, and the entire AspenTech team to build on our mutual success."

Wheeler is a graduate of the Harvard Business School and Yale College.

About AspenTech

Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to use simulation models to increase efficiency and profitability. aspenONE, a new generation of software solutions from AspenTech, represents a major step forward in helping process manufacturers achieve their strategic operational excellence initiatives. The first comprehensive offering to address the demands of the Enterprise Operations Management (EOM) market, aspenONE provides companies with integrated systems that enable them to manage and optimize their operational performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell, and Total. For more information, visit www.aspentech.com.

The fourth paragraph of this press release contains 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; the FTC proceeding challenging AspenTech's acquisition of Hyprotech; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; AspenTech's ability to raise additional capital as required; AspenTech's ability to integrate the operations of acquired companies; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; 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, aspenONE, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.

For Media:
Aspen Technology, Inc.
Robin Swanger, 218-504-3256
robin.swanger@aspentech.com

For Investors:
Aspen Technology, Inc.
Joshua Young, 617-949-1274
joshua.young@aspentech.com