CLOUD

ANSYS, Inc., a global innovator of simulation software and technologies designed to optimize product development processes, today announced that its president and CEO James E. Cashman III accepted the top prize in the technology category during the gala Ernst & Young Entrepreneur of the Year Awards Banquet for Western Pennsylvania. ANSYS is now eligible for consideration at the national level. Nominated by National City Bank, ANSYS was selected from more than 50 nominations in the Western Pennsylvania area by a panel of independent judges comprised of local community and business leaders. As the first award of its kind, Ernst & Young Entrepreneur of the Year recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. The program honors entrepreneurs through regional, national and global award programs in more than 100 cities and 35 countries. "Ernst & Young Entrepreneur of the Year award winners embrace the entrepreneurial spirit and determination necessary to achieve success," said Steve Klemash, office managing partner at Ernst & Young in Pittsburgh. "Ernst & Young is proud of its history recognizing and supporting these outstanding leaders and their companies." Since 1999, ANSYS has grown in market capitalization from $100 million to $700 million driven by its continued global expansion of leading-edge engineering simulation solutions. During the past four years, the company's revenues have grown 80% from $63.1 million to $113.5 million and have increased shareholder value delivering double-digit returns on both average equity and total assets, and has often landed on many of the "fastest-growing" lists, including, Forbes, BusinessWeek, Business 2.0 and FORTUNE Small Business. "It's an honor to be named an Ernst & Young Entrepreneur of the Year Award winner, but it takes more than one person to foster a successful, financially solid, global company," said Cashman. "It takes a combination of talented people working in concert. Therefore, this award is accepted on behalf of ANSYS customers, employees and partners -- past and present. Together, we've taken ANSYS from a single-purpose, structural analysis software provider and grown it into the multi-solution organization it is today." Winners in several national categories, as well as the overall Ernst & Young Entrepreneur of the Year, will be announced at the annual awards gala in Palm Springs, Calif., in November 2004. The overall national Ernst & Young Entrepreneur of the Year award winner is then considered for the world event held in Monte Carlo.