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EXHIBIT 99.1
PRESS RELEASE
PLANETCAD ANNOUNCES APPOINTMENT OF NEW PRESIDENT AND CEO
Jim Bracking Brings Strong Track Record in High Technology Companies
to PlanetCAD
BOULDER, Colo.--(BUSINESS WIRE)--Dec. 18, 2000--PlanetCAD Inc. (AMEX:PCD -
news), the world's leading developer of Web-hosted engineering application
services and interoperability solutions for the manufacturing supply chain,
today announced the appointment of Mr. James Bracking as president and CEO.
The appointment of Mr. Bracking follows the completion by the company of the
sale of its Component Software Division to Spatial Corp., an indirect, wholly
owned subsidiary of Dassault Systemes (Nasdaq:DASTY - news), in November, and
the subsequent focus by the Company on providing both the Web infrastructure and
services for enhancing the value of engineering data throughout the
manufacturing supply chain.
"Jim Bracking has established an extensive track record in the management and
growth of high technology companies," said Richard Sowar, PlanetCAD's Chairman
and chief technical officer. "With the significant changes at PlanetCAD over the
past year, we view ourselves as a new company with the advantages of proven
enterprise and Internet products, strong customer and partner relationships and
significant funding for future growth. We believe this is the right time to
appoint an executive with the strong operational background in entrepreneurial
high technology companies that Jim possesses."
The Company also announced the resignation of R. Bruce Morgan as President and
CEO effective immediately. Mr. Morgan will continue to provide consulting
services to the Company for a transitional period.
"We are very appreciative of the many contributions Bruce has made to the
Company over the past 3-1/2 years, and especially his work in building
PlanetCAD," Sowar said. "He has helped position PlanetCAD as a significant
player in the growing market for Web-based manufacturing supply chain solutions
and as an infrastructure supplier for private enterprise exchanges. We
appreciate his continuing commitment to the success of PlanetCAD."
About PlanetCAD Inc.
PlanetCAD develops and delivers Web-hosted and enterprise-based application
services and e-commerce sites for streamlining engineering data interchange
throughout the digital manufacturing supply chain. PlanetCAD's application
services include: the PrescientQA(R) design-quality engineering software suite,
which reduces costly design errors, accelerates time-to-market and improves the
product development process; 3Dshare.com(TM) (www.3dshare.com), which provides
online translation and repair of 3D CAD models to streamline the flow of
engineering data between organizations regardless of installed CAD systems;
Bits2PARTS(TM) (www.bits2parts.com), an e-commerce service that streamlines the
communication and data transmission process between manufacturers and rapid
prototyping service bureaus across the Web; and IntraVISION(R), which enables
viewing, markup, measuring and converting of more than 300 CAD file formats over
the Internet without downloading.
PlanetCAD is headquartered in Boulder, Colo. and has offices in Boston and the
United Kingdom. For more information, visit www.planetcad.com, or call (888)
319-0871.
Statements made in this news release that are not historical facts may be
forward-looking statements. Actual results may differ materially from those
projected in any forward-looking statement. There are a number of important
factors that could cause actual results to differ materially from those
anticipated by any forward-looking information. A description of risks and
uncertainties attendant to PlanetCAD Inc. and its industry, and other factors
which could affect PlanetCAD's financial results, are included in PlanetCAD's
Securities and Exchange Commission filings, including, but not limited to,
PlanetCAD's annual report on Form 10-KSB for the year ended December 31, 1999.
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PlanetCAD, 3Dshare.com, Bits2Parts, and PlanetCAD Connect are trademarks of
PlanetCAD Inc. Prescient QA is a registered trademark of PlanetCAD Inc.
IntraVISION is a registered trademark of Spatial Corp. All other products are
trademarks of their respective owners.
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Contact:
PlanetCAD
Rachael Dalton-Taggart, PR Director, 303/544-2986
[email protected]
or
PlanetCAD Public Relations
Matt Otepka, Metzger Associates, 303/786-7000
[email protected]
or
PlanetCAD UK Public Relations
David Allen, Practical PR, 44 (0) 207-328-1991
[email protected]
or
PlanetCAD Investor Relations
Geoff High, Pfeiffer Public Relations, 303/393-7044
[email protected]
