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13 Sep 2004

PTC Receives IRS Notification of Income Tax Refund of Approximately $37 Million

PTC (Nasdaq: PMTC) today announced that it has received notification of a favorable resolution from the United States Department of the Treasury(TM)'s Internal Revenue Service regarding an examination of the company's income tax returns for the years 1998 through 2000, which will result in a tax refund to PTC of approximately $37 million, including interest which is subject to a final calculation by the IRS.



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