Formation Systems to Host Webcast on Managing Innovation to Deliver Successful New Consumer Products; Free Webcast to Be Held on May 19

Business Wire, May 16, 2005

SOUTHBOROUGH, Mass. -- Formation Systems, a leading provider of product development solutions for the food and beverage, specialty chemical and consumer packaged goods industries, announced today it will host a live, informational Webcast on product innovation and development within the consumer packaged goods (CPG) industry. The Webcast, "Managing Innovation to Deliver Successful New Consumer Products," is scheduled for May 19, 2005 at 10:00 a.m. EDT.

Todd Bargman, a director at PRTM, a leading management consultancy committed to helping companies develop and execute strategies through improvements in best practices, will lead the Webcast and highlight the results of the firm's recent CPG innovation and product development study. Key principles for making innovation and new product development sustainable competitive advantages will be detailed.

According to PRTM's study, most CPG companies fail to make efficient use of resources and are ineffective at delivering new products that are commercially successful. PRTM's study found that the CPG industry as a whole is five to 10 years behind the high tech industry in building efficient and effective product development practices.

Webcast attendees will be eligible to receive a complimentary report comparing their company's development practices with those in PRTM's benchmark database. Webinar registration is free and can be completed online through the following Web address: http://www.formationsystems.com/webinars/index.html

About Formation Systems

Formation Systems is a software and services company that focuses on significantly improving the product development process for manufacturers in the food and beverage, home and personal care and specialty chemical industries. The company helps manufacturers accelerate new product introduction and achieve globally compliant products with lower development costs and a shorter time to world markets. Customers realize these benefits by using Formation Systems' software, Optiva, which enables manufacturers to consolidate the product development process and integrate disparate systems into one centralized, easy-to-use solution. Customers include Akzo Nobel, Barber Foods, Cadbury Schweppes plc, The Campbell Soup Company, The Coca-Cola Company, GE Plastics, Hormel Foods, Kerry Group plc, Parfums Christian Dior, Rich Products, RPM, The Valspar Corporation and Yves Rocher. Formation Systems is headquartered in Southborough, Mass. with offices around the world. For more information visit the corporate Website at http://www.formationsystems.com.

About PRTM

PRTM (www.prtm.com) works closely with leading companies worldwide to achieve breakthrough business results--fast. Since 1976, we've delivered measurable value to our clients, earning one of the highest levels of repeat business in the management consulting industry. PRTM is also a recognized thought leader and innovator. There are 13 PRTM offices and more than 400 consultants in the U.S., Europe and Asia.