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LMS Completes IMAGINE Acquisition at Euro 32 Per Share

LEUVEN, Belgium, May 23, 2007 - LMS International, the engineering innovation company, today announced that it has completed the acquisition of the shares owned by the private shareholders of IMAGINE. LMS will now proceed with making a public offer to buy the remaining 7% of the shares of IMAGINE which are in the hands of the public through the listing on the Marché Libre of Euronext Paris.

As the due diligence procedure is now completed, LMS has fixed the acquisition price at € 32 per share. The public shareholders will be individually informed on the conditions proposed by LMS and the practical arrangements with regard to the acquisition of the public shares. As soon as the contemplated acquisition of the public shares will be completed, LMS intends to request the delisting of IMAGINE from the Marché Libre of Euronext Paris.

Through the acquisition, LMS strategically extends its current solutions portfolio for functional performance simulation and physical testing, delivering a complete set of applications to model, simulate and test the real-life behavior of mechanical and mechatronic intelligent systems. LMS also becomes the first and only provider in the industry to deliver system simulation solutions that truly support all phases of product development – from the concept and the detailed design stages, through the final refinement and physical prototype validation stages.

“Both LMS and IMAGINE received very positive feedback from their respective customer communities on the acquisition,” commented Dr. Urbain Vandeurzen, Chairman and CEO of LMS. “Manufacturing companies strongly value the unique combination of IMAGINE’s 1D multi-domain system simulation for intelligent mechanical and mechatronic systems with LMS’ portfolio of 3D simulation software and physical testing systems.”

About LMS

LMS is an engineering innovation partner for companies in the automotive, aerospace and other advanced manufacturing industries. LMS enables its customers to get better products faster to market, and to turn superior process efficiency to their strategic competitive advantage. LMS delivers a unique combination of virtual simulation software, testing systems, and engineering services. We are focused on the mission critical performance attributes in key manufacturing industries, including structural integrity, handling, safety, reliability, comfort and sound quality. Through our technology, people and over 25 years of experience, LMS has become the partner of choice for most of the leading discrete manufacturing companies worldwide. LMS, a Dassault Systèmes SIMULIA partner, is certified to ISO9001:2000 quality standards and operates through a network of subsidiaries and representatives in key locations around the world. For more information on LMS, visit the company’s web site at www.lmsintl.com. 

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