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Polysort Announces Strategic Partnership with India's Polymerupdate.Com Partnership Opens Door for Global Online Transactions. www.chemconnect.com May 02, 2001 Market News

AKRON, Ohio, May 2, 2001 /PRNewswire via COMTEX/ -- Polysort LLC, a six-year-old Internet company that operates two business-to-business portals for the plastics industry, announced the formation of a strategic partnership with Polymerupdate.com (owned by Shalimar Infotech Pvt. Ltd.), India's first plastics industry web site. Beginning in late April, registered members of both sites will have access to Polysort's trading exchange, PolymerSite.com, for the purpose of buying and selling resin. This partnership transforms PolymerSite into a global marketplace, targeting India as the first geographic area of expansion.

The partnership brings together two of the world's most dynamic plastics resin markets, with total market opportunity in North America valued at $68 billion and India at a total market value of more than $4 billion. The agreement also brings into play six other countries in the region: Sri Lanka, Bangladesh, Pakistan, Nepal, Bhutan, and the Maldives.

Both web sites ( www.polysort.com and www.polymerupdate.com ) bring sizable memberships to the partnership as well, with a combined total of more than 13,500 registered users.

"As we considered expansion into the global marketplace, India presented an appealing opportunity from the standpoint of economic opportunity," said Angela Charles, Polysort's managing director. "India is considered to be one of the fastest growing plastics markets in the world today, and the presence already achieved by Polymerupdate was an impressive and solid foundation to build upon."

In turn, Polymerupdate.com had been seeking an existing technology for resin trading that most closely mirrors the manner in which transactions already take place. According to Sajjid Mitha, Polymerupdate.com CEO and director, PolymerSite provided an excellent fit. "In India, issues such as ease-of-use and security are critical when getting involved in online transactions, and PolymerSite offers both."

In addition to sharing technology for online resin transactions, Polysort and Polymerupdate.com plan to share process innovations that enhance trading volume. "Here at Polysort, we've seen steady increases in transactions in the past several months," said Charles. "We attribute this to our process of facilitation, where staffers personally contact members regarding postings that may be of interest. This personal touch has really helped alleviate barriers to doing business online, and opened our members' minds to the opportunities instead." Anticipating that the relationship side of the sales process will be critical in India as well, Polymerupdate plans to add a facilitation staff immediately.

Polysort's member offerings grow

In other business development news, Polysort has formed strategic partnerships with two well-respected financial service companies to enhance its offering of member services:

GE Capital Financial Services. Polysort has teamed up with GE Capital to offer site visitors easy access to information on financial services. Through these services, Polysort visitors can gain easy access to information about capital loans while they're considering purchases of machinery or materials.

Pitney Bowes. A partnership has been forged with Pitney Bowes Capital Services allowing members to purchase escrow services to guarantee the security of resin transactions conducted on PolymerSite.com.

Polysort, founded in 1995, is a Group Purchasing Organization (GPO) that works on behalf of both buyers and sellers to create group efficiencies for transactions made in the plastics industry. The company's member services include a full complement of online trading tools, industry news and information, networking opportunities, and web marketing programs to help businesses generate qualified sales leads. For more information, contact Polysort at (800) 326-8666 or visit www.polysort.com .