AspenTech dispels rumour of sale

November 2002 News

Aspen Technology has issued a statement discrediting an article that appeared in an Internet newsletter covering process automation, which stated that AspenTech was for sale.

"It is our normal policy not to comment on market rumours about matters such as acquisitions and other material events," said Larry Evans, chairman and CEO. "However, this article included blatantly false information that the company was for sale and that an investment bank, JP Morgan, had circulated a prospectus. This information is completely untrue and the concerns this article caused among our employees and other constituents warranted issuing this statement," said Evans. "We are executing on a strategy intended to return us to operating profitability and positive cash flow as quickly as possible and I am confident that the recent changes we have implemented have put us on the right track," concluded Evans.

The company noted that this statement is an exception to its policy of not commenting on market rumours, and that in the future it will maintain its policy of not commenting on rumours.

For more information contact Amanda Strauss, sales co-ordinator, AspenTech Africa, 011 258 8771, [email protected], www.aspentech.com

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