BEIJING, May 20 /PRNewswire/ --

- The Italian Based Software Company, With Operations in Europe,
USA, India and Japan and the Chinese Company Have Sealed a Strategic Deal to 
Become the Leading Supplier of Software Solutions for Manufacturers in China

Think3 Inc. the only supplier to offer technology solutions
that combine product concept, engineering and tooling environments, and
Beijing Extech Science and Technology Co Ltd, a Chinese leading PLM software
vendor, have announced the creation of a joint venture called EXTECH. This is
supported by new investment in think3 from world leading venture capital
firms NEA and CrossLink to become the leading player in the Chinese
manufacturing software market. The alliance will allow think3 to enter this
strategic market to jointly provide CAD/CAPP/PDM/MPM integrated solutions
through Beijing Extech Science and Technology' established sales network
backed up by its deep understanding of Chinese customer requirements. The new
investments in the joint venture will considerably strengthen EXTECH's R&D
capability and local support coverage. EXTECH will also benefit by the
complete incorporation of Beijing Extech Science and Technology Co Ltd's
strong distribution and sales network which counts 18 sales offices across
the country, with over 6,000 customers. The new company will combine think3's
current solution offering with EXTECH's portfolio of products to penetrate
the fast growing Chinese CAD, CAM and PLM markets with cutting edge
solutions.

Filippo Zuccarello, CEO of think3, Joneson Wang, CEO of
Beijing Extech Science and Technology Co. Ltd., and the new management team
presented the background to the Joint Venture and shared the vision for the
aggressive growth plans at the Official Announcement Ceremony in Beijing. The
new company will have its head quarters in Beijing and the global R&D
organization will have bases in China, Italy, France and India.

"This agreement is key to think3's strategy to grow its direct
presence in China," said Filippo Zuccarello, CEO, think3 and Chairman of
EXTECH. "Drawing on the combined strengths of think3 and Beijing Extech
Science and Technology, the newly launched company will be able to deliver
incredible value through expanded research and development, a broader range
of products and services and massive sales and support capabilities."

"The winning formula of advanced international technology and
strong financial investment will be a great benefit for providing Chinese
customers the perfect technology solution coupled with an excellent customer
orientated local service. This unique position of EXTECH as a Chinese company
with a Global Technology and Development Network will enable Chinese
Manufacturers to rapidly become innovation leaders," said Joneson Wang,
President & CEO, of EXTECH.

"The joint venture between think3 and Beijing Extech Science &
Technology is a new business model for our investment strategy in China. We
believe the new venture will create tremendous value to Chinese customers and
make a great contribution to the IT revolution of the China manufacturing
industry by combining initiatives around technology, product portfolio and
marketing. Our China team fully endorses the new venture. We also strongly
believe the China government and industry partners in will support the new
company," concluded Mark Perry, General Partner of NEA.

EXTECH combines advanced technology from think3, global R&D
resources and accumulated local culture and knowledge from Beijing Extech
Science & Technology Co. Ltd. to form a new fully integrated PLM provider
from concept design to manufacturing production. It put's EXTECH in an
enviable position to quickly become the largest PLM player in China.

Representatives from the Chinese Government Science &
Technology committee, the Ministry of Industrial Information, Tsinghua
University and Italian Embassy attended the ceremony to give their
congratulations to the new company. They encouraged EXTECH to use the
advanced technology and over 14 years of local support and services to unveil
the latest PLM integrated solutions to help to significantly contribute to
innovation in the Chinese manufacturing industry.

For further information about think3, please visit
http://www.think3.com

For further information about Extech Science & Technology Co.
Ltd, please visit http://www.extech.cn