RecycleNet Signs Letter of Intent in Energy Sector

September 24, 2001

Tom Hattle of RecycleNet Corporation (OTC GARM) and Paul Whitney, President of Wyntech Capital Initiatives Inc. are pleased to announce that Wyntech has entered into a letter of intent with RecycleNet to license NarOil.com, a Rhodium WebWeaver turnkey e-commerce system.

NarOil.com is a B2B e-commerce portal designed to facilitate the exchange of oil and petrochemical products. The NarOil.com marketplace accommodates both the new and recycled industry sectors.

Oil and gas trade has the potential to bring substantial economic benefits to producers and both economic and environmental benefits to consumers in developing and developed economies alike. NarOil.com is a marketplace that brings the oil and petrochemical industry together with an easy to use and cost effective platform.

In other news, Richard R. Ivanovick CA, Chief Financial Officer of RecycleNet Corporation is pleased to report that the company has completed all SEC and NASD requirements to move from the OTC Pink Sheets to the OTC Bulletin Board. It is the companies hope that the move to the OTC Bulletin Board will bring increased visibility of the company to the investment community.

RecycleNet Corporation is continuing to expand to meet the needs of its clients, and provides Global Access to Recycling Markets (GARM).

For further information contact:

Tom Hattle
RecycleNet Corporation

Tel. (519) 767-2913

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