Aspen Technology's PetroVantage Launches Foundation Client Program in North America

Leading Companies from Across the Petroleum Industry Commit to Pilot Software

in Real-World Applications Prior to Final Product Introduction in Summer



Apr 24, 2001, 01:00 ET from Aspen Technology, Inc.

    CAMBRIDGE, Mass., April 24 /PRNewswire Interactive News Release/ --
 Aspen Technology, Inc. (Nasdaq:   AZPN) today announced that its subsidiary
 PetroVantage has launched its Foundation Client Program.  PetroVantage
 provides a collaborative software solution designed to enable the
 $1.4 trillion global petroleum industry to evaluate, collaborate and negotiate
 more profitable trading and logistics decisions for crude oil, intermediates
 and refined products.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO )
     Under PetroVantage's Foundation Client Program, leading companies
 representing key segments of the petroleum value chain will pilot the software
 solution in important areas of their business and provide feedback that will
 be incorporated into commercial versions of the software.  The participants in
 the Foundation Client Program consist of oil companies, including one of the
 majors, several leading trading and logistics companies, and one of the
 world's largest oil testing and inspection companies.
     PetroVantage's collaborative software solution is designed to replace the
 time-consuming data gathering and multiple approximations used in many of
 today's key trading and logistics decisions with fast and accurate
 optimization tools integrated with continuously updated data.  Additionally,
 the PetroVantage software solution is designed to enable companies to track
 the execution of deals and associated logistics, quickly identify costly
 deviations from planned timing and margins, and provides a means for faster
 and better coordination of responses from the many individuals across multiple
 companies and locations required to drive higher profitability in critical
 operations.
     "PetroVantage presented a compelling value proposition that merited our
 participation in their Foundation Client Program," said Jay Wiese, Vice
 President of Williams Energy Partners L.P.  "The PetroVantage software
 solution will enable us to establish a collaborative network with our existing
 and new customers enabling them to make quick and profitable decisions about
 the best way to use our facilities."
     "PetroVantage is taking a unique vertical industry approach for improving
 supply chain visibility and collaboration.  It is leveraging the strong domain
 expertise and solution sets of parent company AspenTech," said John Moore,
 Vice President of the ARC Advisory Group.  "Such vertical market focus should
 lead to faster implementations and richer collaborative environments for all
 participants creating a network that will, among other benefits, lead to
 reduced transportation and logistics costs associated with the trading and
 logistics of physical crude oil and products."
     The Foundation Client Program represents a key phase in the introduction
 of the PetroVantage solution, which will be launched this summer.  Companies
 that will be participating in the program form a cross section of the
 industry, including integrated refining and marketing companies, national oil
 companies, trading companies, bulk distributors and consumers, pipeline and
 marine transportation companies, brokers, terminal companies and inspection
 companies.  Feedback from their experiences will then be incorporated into the
 final product to ensure the software delivers maximum value to users in each
 part of the value chain.  The program is currently being expanded worldwide to
 ensure that it satisfies global market requirements.
     PetroVantage is not a public or even a private exchange where the business
 models depend on collecting transaction fees.  PetroVantage is a software
 solution and will use a more traditional model in which customers commit to a
 term license for the software based on parameters such as the number of users,
 the length of the commitment and volume of materials being managed.
     "PetroVantage is a key element of AspenTech's strategy to provide a
 complete end-to-end solution for the petroleum value chain that addresses the
 needs of all industry players," said Larry Evans, Chairman and CEO of
 AspenTech.  "The petroleum industry has welcomed our solution as a major
 breakthrough in the way they conduct business, and we believe the PetroVantage
 licensing model will be attractive to customers and enable PetroVantage to
 prosper alongside them."
 
     Significance to the Petroleum Industry
     As each barrel of crude oil or product moves through the supply chain,
 there are trading and logistics decisions to be made that determine the
 company's profitability.  Companies need specific tools and functionality to
 help them reduce operating costs, enhance their ability to manage unexpected
 deviations in complex supply chain operations and improve their ability to
 profitably enter and exit markets.
     The heart of the PetroVantage offering is its unique decision optimization
 and collaborative workflow software, which uses an Internet-based platform to
 link the key participants in the petroleum supply chain into effective trading
 and logistics networks.  Within these networks, companies will be able to:
 
    * Evaluate and profit from the best trading and logistics opportunities,
      using decision optimization tools
 
    * Collaborate with their trading and logistics partners, creating supply
      chain visibility using automated processes designed for the oil industry
 
    * Negotiate more efficiently via a flexible private deal negotiation
      solution.
 
     About PetroVantage
     The PetroVantage software solution is designed to address the complex
 challenge of optimizing and coordinating trading and logistics decisions and
 workflow within and between companies involved in evaluating, transporting and
 trading of crude oil, intermediates and refined products.  PetroVantage's goal
 is to enable customers to achieve $20-30 billion in annual savings from the
 $150 billion the industry spends each year in logistics and trading costs.
 PetroVantage will provide a hosted solution for the petroleum industry that
 integrates decision optimization technology with collaborative workflow
 management and a deal negotiation solution.  Founded in September 2000 and
 headquartered in Cambridge, Massachusetts, PetroVantage is currently a wholly
 owned subsidiary of Aspen Technology (Nasdaq:   AZPN), the leading provider of
 supply chain technology to the process industries.
 
     About AspenTech
     Aspen Technology, Inc. is the leading supplier of integrated software and
 solutions that enable process manufacturers to automate and optimize their
 plants and extended supply chains, while enabling e-business.  With deep
 process knowledge, best-in-class technology, and strategic alliances with
 leading business and technology partners, AspenTech offers the industry's
 broadest family of scaleable solutions, allowing process manufacturers to
 achieve competitive advantage in the Internet economy.  AspenTech's
 Plantelligence(TM) solutions automate and optimize critical business processes
 at the plant level.  AspenTech's Enterprise Optimization(TM) solutions extend
 the scope of optimization across the enterprise and extended supply chain.
 AspenTech eSupply Chain solutions enable manufacturers to link seamlessly to
 customers, suppliers and on-line trading exchanges, creating a collaborative,
 flexible extended enterprise.  AspenTech employs more than 1,800 people
 worldwide.  For more information visit http://www.aspentech.com .
 
     Paragraphs 4, 5, 6, 9, and 10 of this press release contain
 forward-looking statements for purposes of the safe harbor provisions of the
 Private Securities Litigation Reform Act of 1995.  These statements involve
 factors that may cause PetroVantage's and AspenTech's actual results, levels
 of activity, performance or achievements to be materially different from any
 future results, levels of activity, performance or achievements expressed or
 implied by such forward-looking statements.  Specifically, the statements in
 the first and second sentence of the fourth paragraph, the third sentence in
 the fifth paragraph, the second sentence in the sixth paragraph, the second
 sentence and bullet points in the ninth paragraph, and the second and third
 sentences in the tenth paragraph are forward-looking statements and their
 achievement is subject to a number of factors including: the success of the
 Foundation Client Program; PetroVantage's ability and success in implementing
 changes suggested by the Program participants; PetroVantage's business model;
 PetroVantage's and AspenTech's lengthy sales cycle which makes it difficult to
 predict quarterly operating results; fluctuations in PetroVantage's and
 AspenTech's quarterly operating results; PetroVantage's and AspenTech's
 dependence on customers in the cyclical chemicals, petrochemicals and
 petroleum industries; PetroVantage's need to hire additional qualified
 personnel and its dependence on key current employees; potential competition;
 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 and PetroVantage 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, PetroVantage, Plantelligence, Enterprise Optimization, and the
 aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
 
     Contacts:
 
     For Investors:                    For media:
     Joshua Young                      Carin Warner
     Aspen Technology, Inc.            Warner Communications
     (617) 949-1274                    (978) 526-1960
     joshua.young@aspentech.com        carin@warnerpr.com
 
                                       Peter Watt
                                       Aspen Technology, Inc.
                                       011-44-1223-819752
                                       peter.watt@aspentech.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X38644258
 
 

SOURCE Aspen Technology, Inc.
    CAMBRIDGE, Mass., April 24 /PRNewswire Interactive News Release/ --
 Aspen Technology, Inc. (Nasdaq:   AZPN) today announced that its subsidiary
 PetroVantage has launched its Foundation Client Program.  PetroVantage
 provides a collaborative software solution designed to enable the
 $1.4 trillion global petroleum industry to evaluate, collaborate and negotiate
 more profitable trading and logistics decisions for crude oil, intermediates
 and refined products.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO )
     Under PetroVantage's Foundation Client Program, leading companies
 representing key segments of the petroleum value chain will pilot the software
 solution in important areas of their business and provide feedback that will
 be incorporated into commercial versions of the software.  The participants in
 the Foundation Client Program consist of oil companies, including one of the
 majors, several leading trading and logistics companies, and one of the
 world's largest oil testing and inspection companies.
     PetroVantage's collaborative software solution is designed to replace the
 time-consuming data gathering and multiple approximations used in many of
 today's key trading and logistics decisions with fast and accurate
 optimization tools integrated with continuously updated data.  Additionally,
 the PetroVantage software solution is designed to enable companies to track
 the execution of deals and associated logistics, quickly identify costly
 deviations from planned timing and margins, and provides a means for faster
 and better coordination of responses from the many individuals across multiple
 companies and locations required to drive higher profitability in critical
 operations.
     "PetroVantage presented a compelling value proposition that merited our
 participation in their Foundation Client Program," said Jay Wiese, Vice
 President of Williams Energy Partners L.P.  "The PetroVantage software
 solution will enable us to establish a collaborative network with our existing
 and new customers enabling them to make quick and profitable decisions about
 the best way to use our facilities."
     "PetroVantage is taking a unique vertical industry approach for improving
 supply chain visibility and collaboration.  It is leveraging the strong domain
 expertise and solution sets of parent company AspenTech," said John Moore,
 Vice President of the ARC Advisory Group.  "Such vertical market focus should
 lead to faster implementations and richer collaborative environments for all
 participants creating a network that will, among other benefits, lead to
 reduced transportation and logistics costs associated with the trading and
 logistics of physical crude oil and products."
     The Foundation Client Program represents a key phase in the introduction
 of the PetroVantage solution, which will be launched this summer.  Companies
 that will be participating in the program form a cross section of the
 industry, including integrated refining and marketing companies, national oil
 companies, trading companies, bulk distributors and consumers, pipeline and
 marine transportation companies, brokers, terminal companies and inspection
 companies.  Feedback from their experiences will then be incorporated into the
 final product to ensure the software delivers maximum value to users in each
 part of the value chain.  The program is currently being expanded worldwide to
 ensure that it satisfies global market requirements.
     PetroVantage is not a public or even a private exchange where the business
 models depend on collecting transaction fees.  PetroVantage is a software
 solution and will use a more traditional model in which customers commit to a
 term license for the software based on parameters such as the number of users,
 the length of the commitment and volume of materials being managed.
     "PetroVantage is a key element of AspenTech's strategy to provide a
 complete end-to-end solution for the petroleum value chain that addresses the
 needs of all industry players," said Larry Evans, Chairman and CEO of
 AspenTech.  "The petroleum industry has welcomed our solution as a major
 breakthrough in the way they conduct business, and we believe the PetroVantage
 licensing model will be attractive to customers and enable PetroVantage to
 prosper alongside them."
 
     Significance to the Petroleum Industry
     As each barrel of crude oil or product moves through the supply chain,
 there are trading and logistics decisions to be made that determine the
 company's profitability.  Companies need specific tools and functionality to
 help them reduce operating costs, enhance their ability to manage unexpected
 deviations in complex supply chain operations and improve their ability to
 profitably enter and exit markets.
     The heart of the PetroVantage offering is its unique decision optimization
 and collaborative workflow software, which uses an Internet-based platform to
 link the key participants in the petroleum supply chain into effective trading
 and logistics networks.  Within these networks, companies will be able to:
 
    * Evaluate and profit from the best trading and logistics opportunities,
      using decision optimization tools
 
    * Collaborate with their trading and logistics partners, creating supply
      chain visibility using automated processes designed for the oil industry
 
    * Negotiate more efficiently via a flexible private deal negotiation
      solution.
 
     About PetroVantage
     The PetroVantage software solution is designed to address the complex
 challenge of optimizing and coordinating trading and logistics decisions and
 workflow within and between companies involved in evaluating, transporting and
 trading of crude oil, intermediates and refined products.  PetroVantage's goal
 is to enable customers to achieve $20-30 billion in annual savings from the
 $150 billion the industry spends each year in logistics and trading costs.
 PetroVantage will provide a hosted solution for the petroleum industry that
 integrates decision optimization technology with collaborative workflow
 management and a deal negotiation solution.  Founded in September 2000 and
 headquartered in Cambridge, Massachusetts, PetroVantage is currently a wholly
 owned subsidiary of Aspen Technology (Nasdaq:   AZPN), the leading provider of
 supply chain technology to the process industries.
 
     About AspenTech
     Aspen Technology, Inc. is the leading supplier of integrated software and
 solutions that enable process manufacturers to automate and optimize their
 plants and extended supply chains, while enabling e-business.  With deep
 process knowledge, best-in-class technology, and strategic alliances with
 leading business and technology partners, AspenTech offers the industry's
 broadest family of scaleable solutions, allowing process manufacturers to
 achieve competitive advantage in the Internet economy.  AspenTech's
 Plantelligence(TM) solutions automate and optimize critical business processes
 at the plant level.  AspenTech's Enterprise Optimization(TM) solutions extend
 the scope of optimization across the enterprise and extended supply chain.
 AspenTech eSupply Chain solutions enable manufacturers to link seamlessly to
 customers, suppliers and on-line trading exchanges, creating a collaborative,
 flexible extended enterprise.  AspenTech employs more than 1,800 people
 worldwide.  For more information visit http://www.aspentech.com .
 
     Paragraphs 4, 5, 6, 9, and 10 of this press release contain
 forward-looking statements for purposes of the safe harbor provisions of the
 Private Securities Litigation Reform Act of 1995.  These statements involve
 factors that may cause PetroVantage's and AspenTech's actual results, levels
 of activity, performance or achievements to be materially different from any
 future results, levels of activity, performance or achievements expressed or
 implied by such forward-looking statements.  Specifically, the statements in
 the first and second sentence of the fourth paragraph, the third sentence in
 the fifth paragraph, the second sentence in the sixth paragraph, the second
 sentence and bullet points in the ninth paragraph, and the second and third
 sentences in the tenth paragraph are forward-looking statements and their
 achievement is subject to a number of factors including: the success of the
 Foundation Client Program; PetroVantage's ability and success in implementing
 changes suggested by the Program participants; PetroVantage's business model;
 PetroVantage's and AspenTech's lengthy sales cycle which makes it difficult to
 predict quarterly operating results; fluctuations in PetroVantage's and
 AspenTech's quarterly operating results; PetroVantage's and AspenTech's
 dependence on customers in the cyclical chemicals, petrochemicals and
 petroleum industries; PetroVantage's need to hire additional qualified
 personnel and its dependence on key current employees; potential competition;
 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 and PetroVantage 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, PetroVantage, Plantelligence, Enterprise Optimization, and the
 aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
 
     Contacts:
 
     For Investors:                    For media:
     Joshua Young                      Carin Warner
     Aspen Technology, Inc.            Warner Communications
     (617) 949-1274                    (978) 526-1960
     joshua.young@aspentech.com        carin@warnerpr.com
 
                                       Peter Watt
                                       Aspen Technology, Inc.
                                       011-44-1223-819752
                                       peter.watt@aspentech.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X38644258
 
 SOURCE  Aspen Technology, Inc.