NEW CORPORATE OFFICERS APPOINTED FOLLOWING REVERSE TAKEOVER

March 22, 1999

Paul Roszel, Chairman of RecycleNet Corporation, is pleased to announce the appointments of Mikael L. Prydz to President & CEO, and Richard R. Ivanovick to Chief Financial Officer (CFO).

These appointments follow the successful completion of the reverse takeover of Garbalizer Machinery Corporation.

The name of the company has been changed from Garbalizer Machinery Corporation to RecycleNet Corporation, and will continue to trade on the OTC BB as GARM.

All business operations conducted by Garbalizer Machinery Corporation, prior to the reverse takeover, have been acquired by Garb-Oil & Power Corporation of Utah.

The completion of the reverse takeover will enable RecycleNet Corporation to expand its predominant position as a world leader in Internet commerce through its web site:

Recycler's World
(www.recycle.net).

RecycleNet Corporation provides "Global Access to Recycling Markets" (GARM) through Recycler's World, a dynamic Internet portal that facilitates e-commerce trading.

For further information contact:

Paul Roszel
Chairman, RecycleNet Corporation
Tel. (519) 767-2913
Email: paul@recycle.net

1999 News Releases
2000 News Release