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Dow Extends Standardization of AspenTech Engineering and Manufacturing Solutions

02/11/02

CAMBRIDGE, Mass., Feb 11, 2002 /PRNewswire-FirstCall via COMTEX/ --

New agreement a key enabler to improve Dow's competitive position and support its ambitious goals for increased productivity

Aspen Technology, Inc. (Nasdaq: AZPN) and The Dow Chemical Company (NYSE: DOW) today announced a major agreement to significantly expand the use of AspenTech's software solutions in Dow's global manufacturing operations. Under the multi-million dollar agreement, Dow will standardize on key elements of AspenTech's integrated engineering and manufacturing technologies, supporting the company's ambitious goals for increased productivity and delivering a dramatic improvement in manufacturing performance throughout hundreds of Dow's worldwide facilities.

(Photo: http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO )

The new agreement enables Dow to extend its use of process engineering and design tools from the Aspen Engineering Suite(TM), and to standardize on key components of AspenTech's integrated Plantelligence(TM) solution for production optimization. Dow will use AspenTech's integrated solutions for production management and scheduling, process information management, and advanced control and optimization. Using these technologies, Dow will be able to generate higher yields, improve product quality and reduce energy costs.

"Standardizing on AspenTech's solutions in these areas represents a significant step in our manufacturing strategy and will strengthen Dow's competitive position in the marketplace," said Maggi Walker, Director of Dow Process Automation. "These tools and applications will provide us with a powerful technology platform to drive performance improvements across our manufacturing network, and we believe these applications will be a key enabler in helping Dow to achieve its business objectives."

Dow will use the Plantelligence applications within its Manufacturing Execution Systems (MES) initiative to link plants with the company's SAP Enterprise Resource Planning (ERP) system, allowing critical real-time information to be shared along the value chain for automated, faster and more profitable decision-making.

The decision to extend the standardization of AspenTech's applications builds on extensive experience and utilization of the solutions within Dow's manufacturing operations. AspenTech's technologies have been widely used in the modeling and design or re-design of plants; in advanced control and optimization -- such as the agreement announced in 2001 for Dow's global ethylene plants; and in the process information management systems currently being implemented across Dow's manufacturing network.

"This major agreement with Dow demonstrates how our solutions help companies transform the way they manage their manufacturing operations, by providing them with a comprehensive set of optimization and decision-making tools," said Larry Evans, Chairman and CEO of AspenTech. "The agreement builds on the 20-year relationship between our two companies, and demonstrates AspenTech's strong commitment to the long-term relationship."

AspenTech's engineering and production optimization technologies are central elements of the Aspen ProfitAdvantage(TM) solution, which enables process companies to identify and maximize profit opportunities.

About The Dow Chemical Company

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of approximately $28 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of Sustainable Development, Dow and its approximately 50,000 employees seek to balance economic, environmental and social responsibilities. For further information, visit Dow's website at http://www.dow.com.

About AspenTech

Aspen Technology, Inc. is a leading supplier of integrated software and solutions to the process industries. The company's Aspen ProfitAdvantage(TM) solution enables companies to identify and maximize profit opportunities throughout their entire value chain-from the supply of raw materials, through the production of goods, to the delivery of final products to customers. The Aspen ProfitAdvantage solution encompasses engineering, manufacturing, supply chain and e-business collaboration technologies, providing the tools that enable manufacturers to design, optimize and execute business processes in real time. Over 1,200 leading process companies already rely on AspenTech's 20 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, Chevron, Dow Chemical, DuPont, Equistar, Exxon Mobil, GlaxoSmithKline, Merck, Mitsubishi Chemical, and Unilever. 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 the cyclical chemicals, petrochemicals and petroleum industries; AspenTech's need to hire additional qualified personnel and its dependence on key current employees; intense competition; AspenTech's dependence on systems integrators and other strategic partners; changes in the market for e-business solutions for AspenTech's customers; increased governmental regulation and taxation of e-commerce and the Internet; information security and privacy concerns relating to e-commerce; 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 ProfitAdvantage, Aspen Engineering Suite, Plantelligence and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.

     Contacts:

     For Media:
     Peter Watt
     Aspen Technology, Inc.
     +44 1223 819-752
     peter.watt@aspentech.com

     Carin Warner
     Warner Communications
     (978) 526-1960
     carin@warnerpr.com

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

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SOURCE Aspen Technology, Inc.

CONTACT:  For Media: Peter Watt of Aspen Technology, Inc.,
          +44 1223 819-752, peter.watt@aspentech.com; or Carin Warner of Warner
          Communications, +1-978-526-1960, carin@warnerpr.com; or For Investors: Joshua
          Young of Aspen Technology, Inc., +1-617-949-1274, joshua.young@aspentech.com
          /Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO
          AP Archive:  http://photoarchive.ap.org
          PRN Photo Desk, 888-776-6555 or 212-782-2840


URL: http://www.aspentech.com