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Shell Chemicals Extends Global Usage of AspenTech Process Engineering Solutions

09/12/02
CAMBRIDGE, Mass., Sep 12, 2002 /PRNewswire-FirstCall via COMTEX/ --

Full-scale usage of AspenTech's Process Asset Lifecycle Management technology will optimize process knowledge workflow throughout Shell's chemical business

Aspen Technology, Inc. (Nasdaq: AZPN) today announced that Shell Chemicals will extend its usage of the Aspen Engineering Suite(TM) (AES) for process design to fully leverage best practice knowledge and collaborative engineering on a global level. AspenTech's engineering tools have been used for steady state simulation in every major chemical plant at Shell for nearly a decade.

The new agreement gives Shell access to the Aspen ICARUS(R) technology for economic evaluation across all sites, permitting the company to assess the viability of alternative process designs prior to capital commitment, and thus optimize its return on capital investments.

"AspenTech's process modeling technology has been key for conceptual process design across many of our sites," said Hans Pingen, manager Process Systems at Shell International Chemicals. "Their solutions enable us to improve process performance, identify best process design alternatives and reduce our level of energy consumption. By extending the existing agreement globally we are ensuring consistency in our approach to process modeling, allowing us to build on the process performance improvements already achieved."

The Aspen Engineering Suite of solutions for Process Asset Lifecycle Management (PALM) integrates best-in-class engineering technologies designed to increase engineering efficiency via enhanced integration, seamless data transfer, and the effective re-use of process knowledge based on the development of a single asset model utilized throughout the entire enterprise.

"Shell has realized that managing its process assets more effectively can have a real impact on the bottom line," said David McQuillin, Co-Chief Operating Officer of AspenTech. "This new agreement will enable Shell to improve its key performance indicators, such as engineering and manufacturing efficiency, return on capital employed, and capital expenditures across all sites worldwide."

About Shell Chemicals

Shell Chemicals is the term used to refer to the various Shell companies that are engaged in chemicals businesses. Those companies carry out the chemicals operations of the Royal Dutch/Shell Group. With a multi-billion dollar annual turnover and significant investments in manufacturing assets around the world -- both direct and through joint ventures -- they number among the largest petrochemical operations in the world. The Royal Dutch/Shell Group of Companies has grown out of an alliance made in 1907 between Royal Dutch Petroleum Company in the Netherlands and The 'Shell' Transport and Trading Company plc in the UK. For more information, visit www.shellchemicals.com.

About AspenTech

Aspen Technology, Inc. is a leading supplier of enterprise software to the process industries, enabling its customers to increase their margins and optimize their business performance. AspenTech's engineering solutions, incorporating Hyprotech's technologies, help companies design and improve their plants and processes, maximizing returns throughout their operational life. AspenTech's supply chain manufacturing solutions allow companies to run their plants and supply chain more profitably, from customer demand through to the delivery of the finished product. Over 1,200 leading companies rely on AspenTech's software every day to drive improvements across their most important engineering and operational processes. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, Shell 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 Engineering Suite, ICARUS and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.

Contacts:

     For Media:
     Peter Watt                         Carin Warner
     Aspen Technology, Inc.             Warner Communications
     +44 1223 819-752                   (978) 526-1960
     peter.watt@aspentech.com           carin@warnerpr.com

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

SOURCE Aspen Technology, Inc.

CONTACT:
Peter Watt, +44 1223 819-752, peter.watt@aspentech.com, or
Joshua Young, +1-617-949-1274, joshua.young@aspentech.com, both of Aspen
Technology, Inc.; or Carin Warner of Warner Communications, +1-978-526-1960,
carin@warnerpr.com

URL: http://www.aspentech.com
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