Hyperion Systems Engineering - Hyperion Systems Engineering expands to Russia

July 2003 – NICOSIA, CYPRUS - Hyperion Systems Engineering Ltd. announces the strategic upgrade of its presence in the Russia and CIS market, with the launch of a Russia based company responsible for the complete range of business activities of Aspen Technology Inc. (NASDAQ: AZPN) including sales of software licenses and services for project implementation as well as user support and maintenance.

OOO Hyperion Systems Engineering (RUS), incorporated in Moscow, is a subsidiary of the Cyprus based Hyperion Systems Engineering Ltd., a strategic business partner of AspentTech for the last 10 years with 150 staff experienced in the AspenTech suite of applications. Together Hyperion and AspenTech will be able to provide high levels of service to existing as well as new customers. The new operation, consisting today of a core of Russian and expatriate staff, will be developing a trained staff of Russian engineers and consultants. "The decision to proceed to this strategic investment as a proof of our commitment to this market has been in the plan for some time now, and we are extremely pleased that AspenTech decided to proceed to this investment together with Hyperion. Russia and the CIS today emerge as the most promising growth market in the global process industry arena. The region's oil refiners and chemicals producers require increased technical support and we are committed to provide solutions of the highest possible quality that result in capital investment savings, radically improved operations, significantly enhanced asset utilization, increased efficiency and bottom line performance" stated Stavros Spanos, Deputy Managing Director of Hyperion Cyprus and appointed Managing Director of Russia. For years, substantial number of Russian companies has been using AspenTech’s software technology for chemical engineering design as well for the optimization of process manufacturing and supply chains. Customers in Russia include major Oil & Gas businesses like YUKOS, LUKOIL, SibNeft, Gazprom and others, as well as prestigious technical institutes such as the Gubkin Oil & Gas Academy, VNIIPINeft, Tuymen State Oil & Gas University and others. Hyperion’s office in Russia is located at Chaika Plaza, office 471 (4th floor), Zubarev Per. 15, 129164 Moscow. Telephone: +7095.7770393, Fax: +7095.7770397.