Greaves Cotton Limited Expands Adoption of PTC’s Windchill for

  Greaves Cotton Limited Expands Adoption of PTC’s Windchill for Product
  Lifecycle Management

    All Business Units To Standardize On Windchill For Product Development

Business Wire

NEEDHAM, Mass. -- February 16, 2010

PTC (NASDAQ:PMTC), the Product Development Company®, today announced that
Greaves Cotton Limited, a leading manufacturer of industrial products has
chosen to expand enterprise wide adoption of PTC’s Windchill^® across all four
business units – Gasoline/Diesel Engines, Diesel Gensets, Automotive Engines,
Agro Equipment and Construction Equipment. Windchill ^ will be used to
streamline and optimize Greaves Cotton’s product development processes.
Greaves Cotton is an existing customer of the PTC® Product Development System
(PDS), using Pro/ENGINEER^® for CAD/CAM/CAE, ^ Arbortext^® for Service
Information Delivery and Mathcad^® for Engineering Calculations.

The expanded deployment of Windchill ^ will enable Greaves Cotton to reduce
time to market for its products, provide tighter communication between
Research & Development and Manufacturing and be more responsive to customers’
changing requirements. Additionally, Greaves is considering implementing an
integration between Windchill and the company’s Enterprise Resource Planning
solution from SAP to increase the rate of innovation and new product
development, optimize product development processes and enhance overall
product quality.

“We conducted a detailed evaluation of our business needs and available
product lifecycle management solutions in the market, and finally selected
Windchill based on its integral architecture, interoperability with legacy and
competitive systems, and robust capabilities, along with PTC’s technical
support and services strengths. This adoption of Windchill will strengthen
alignment between our product development capabilities and our business
strategies, enabling Greaves Cotton to achieve our corporate and long term
objectives, such as process optimization, innovation and globalization,” said
Mr. Thomas Furtado, Group General Manager - Marketing Services, Greaves Cotton
Limited.

“PTC has continued to invest in Research & Development, making key strategic
acquisitions and forging strategic partnerships to provide customers with a
comprehensive integrated product development solution built on Windchill ^
integral architecture,” ^ said Robert Kocis, Senior Divisional Vice President,
Worldwide Channel Sales, PTC. “We are happy to broaden our partnership with
Greaves Cotton, a strategic global customer, and believe that its expanded
deployment of Windchill and the PDS to increase operational efficiencies will
help Greaves strengthen its competitive advantage.”

About Greaves Cotton Limited

Greaves Cotton Limited, a multi-product, multi-location company is one of the
leading engineering companies in India, with core competencies in diesel /
gasoline engines and construction equipment. Greaves Cotton sustains its
leadership through nine manufacturing units which produce world class products
backed by comprehensive marketing and service / parts network. The Company’s
manufacturing operations are supported by its own full fledged R&D
capabilities. For more information on Greaves Cotton, please visit
http://www.greavescotton.com.

About PTC

PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services
to meet the globalization, time-to-market and operational efficiency
objectives of product development. Using the company’s PLM and CAD solutions,
organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive,
Retail & Consumer and Medical industries are able to support key business
objectives and create innovative products that meet customer needs and comply
with industry regulations. For more information on PTC, please visit
http://www.ptc.com.

Except for the historical information contained herein, matters discussed in
this news release may constitute forward-looking statements that involve risks
and uncertainties that could cause actual results to differ materially from
those projected. These risks and uncertainties include: PTC's successful
development and integration of the technologies necessary to offer integrated
PLM solutions that address evolving product lifecycle management functions
including integration with ERP and other business systems; the success of
PTC’s customer satisfaction initiatives in providing the foundation for
long-term relationships and repeat business; together with such other risks
and uncertainties as are detailed from time to time in reports filed by PTC
with the Securities and Exchange Commission, including PTC's most recent
reports on Form 10-K and 10-Q. The announcement of any particular selection of
PTC products or the planned utilization of services is not necessarily
indicative of the timing of recognition of revenue therefrom or the level of
revenue for any particular period.

PTC and its logo, The Product Development Company, Pro/ENGINEER, Wildfire,
Windchill, Arbortext, Mathcad and all PTC product names and logos are
trademarks or registered trademarks of Parametric Technology Corporation
and/or its subsidiaries in the United States and in other countries.

Contact:

PTC
Penny Zhou, +86 10-8587-3250
Corporate Communications
pzhou@ptc.com
or
For PTC
Weber Shandwick
Amanda Keane, 617-520-7260
akeane@webershandwick.com