RecycleNet Signs Letter of Intent to Acquire fiberglass.com, inc.

September 24, 1999

Mikael Prydz, President and CEO of RecycleNet Corporation (Guelph, Ontario) and James Roszel, President of fiberglass.com, inc. (Salt Lake City, Utah) are pleased to announce the signing of a letter of intent for RecycleNet Corporation to acquire fiberglass.com, inc.

fiberglass.com, inc. operates Fiberglass World (www.fiberglass.com) an internet portal focused on the composite industry and covers the entire spectrum of fiberglass related products and services including tubs, spas, boats, marine, sporting equipment, cast polymers, automotive and transportation equipment and building materials.

fiberglass.com, inc. has a unique involvement as an Internet hub in the virgin fiberglass market which compliments RecycleNet Corporation’s current operations in the recycled and secondary fiberglass markets.

RecycleNet Corporation’s profitable business model puts it in a position to pursue its aggressive plans of merger, acquisition, strategic alliance and rapid internal organic growth. The acquisition of fiberglass.com, inc. by RecycleNet Corporation is scheduled to be completed prior to December 31, 2000.

In a separate agreement, fiberglass.com, inc. is the latest company to sign on to RecycleNet Corporation’s secure server service. This agreement enhances RecycleNet Corporation’s E-Commerce and business to business (b2b) strategies.

RecycleNet Corporation provides "Global Access to Recycling Markets" (GARM) through Recycler’s World (www.recycle.net).

RecycleNet Corporation trades OTC BB: GARM.

For further information contact:

Mikael Prydz RecycleNet Corporation

Tel. (519) 767-2913

1999 News Releases
2000 News Release