Release Details

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 18, 2004-- Aspen Technology, Inc. (Nasdaq: AZPN) today announced that Motiva, a joint venture between Shell Oil Company and Saudi Refining Inc., has selected AspenTech to supply operator training simulators for its Norco refinery in Louisiana. The simulators will help to ensure the safe and efficient operation of the refinery during the transition to a new distributed control system (DCS), which is being installed in all of the plant's main process units.

The Norco refinery has a capacity of 240,000 barrels per day, and produces a range of oil products including gasoline, jet fuel and diesel fuels. The refinery is undergoing a major re-instrumentation project, installing an Emerson DeltaV(TM) DCS system in seven key process units including the catalytic reformers, coker, hydrocrackers, hydrogen plant and hydrotreaters. As each unit changes to the new control system, AspenTech's simulators will be used to provide rigorous training in advance of the cutover.

"The operator training simulators are an integral part of the re-instrumentation project, and will facilitate the successful transition to the new control system," said Mike Wilson, Re-Instrumentation Project Manager of Motiva. "AspenTech's model-based simulators will enable the refinery to realize value not only during the initial training phase, but also continued training including situational training, and by supporting operational improvements once the new systems are in place."

The training systems are based on AspenTech's proven Virtual Plant Simulator (VPS) solution architecture, with HYSYS(R) modeling software used to create dynamic simulation models of the plants incorporating their detailed process characteristics. The use of HYSYS will enable the VPS solution to deliver greater benefits than systems based on dedicated operator training applications. HYSYS is widely used as a modeling platform in the petroleum industry and, in addition to training, the HYSYS models can be used for a range of other functions during the lifecycle of the refinery, such as process troubleshooting and operations analysis. Since many process engineers are already familiar with HYSYS, the models can also be easily maintained and updated.

Motiva selected AspenTech after a detailed competitive evaluation that highlighted the better quality and accuracy of AspenTech's technology, its experience in delivering similar VPS systems, and the greater long-term value of its solutions compared to the operator training systems previously used at the refinery.

"This new project highlights the value that AspenTech's Virtual Plant Simulators can deliver to the refining industry," said David McQuillin, President and CEO of AspenTech. "By combining the HYSYS modeling software with our proven solution architecture for operator training, we can deliver a comprehensive solution that can deliver value throughout the lifecycle of the plant."

About Motiva

Motiva Enterprises LLC is a joint venture between Saudi Refining Inc. and Shell Oil Company. Motiva operates primarily in the Eastern and Southern US and includes Shell-branded and Texaco-branded gasoline stations, four refineries with a capacity of 860,000 barrels per day and a network of oil products terminals. Motiva was formed in 1998.

Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America's leading oil and natural gas producers, natural gas markers, gasoline marketers and petrochemical manufacturers. Shell Oil is the leading oil and gas producer in the deepwater Gulf of Mexico and is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of the Royal Dutch/Shell Group of Companies (NYSE: RD). For more information, visit: www.motivaenterprises.com

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, GlaxoSmithKline, Shell, and Total. 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, HYSYS and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.

DeltaV is a trademark of Emerson Process Management.

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Aspen Technology, Inc.
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For Investors:
Aspen Technology, Inc.
Joshua Young, 617-949-1274
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