RecycleNet Launches Next Phase

June 18, 2002

Tom Hattle of RecycleNet Corporation is pleased to announce the launch of the next phase in the Company's plans for internal growth, the "BOSnet Sales Program". The "BOSnet Sales Program" (Agent.Recycle.Net) has an aggressive goal to develop a network of RecycleNet sales agents in over 150 countries worldwide. The successful completion of RecycleNet's longer-term strategy will result in a network of over 9,000 agents worldwide. RecycleNet will continue to develop and strengthen its domestic network of agents in order to increase exposure in the North American market.

The business climate has been tremendously challenging after the Internet bubble and post September 11, 2001. While many e-commerce companies are struggling to grow or even to survive, RecycleNet Corporation was pleased to report a profit for the first quarter ending March 31, 2002.

In April 2002 the Company completed the successful acquisition and integration of Global Recycling Network (www.grn.com). The acquisition of Global Recycling Network (GRN) reinforces the efforts of two of the oldest and most well established recycling portals on the Internet, by giving RecycleNet the opportunity to increase its predominance in the recycling sector.

On May 1, 2002 Recycler's World (www.recycle.net), RecycleNet's anchor web portal, celebrated seven years online with a total of over 49.5 million page views.

Looking forward, RecycleNet Corporation feels optimistic regarding its strategic position to pursue its aggressive plans of merger, acquisition, strategic alliance, joint ventures and rapid internal growth.

For further information contact:

Tom Hattle
Global Recycling Network (GRN)

Tel. (519) 767.2913

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