RecycleNet Announces Improved Sales for 2003
World’s Largest Recycling Community Posts 35% Sales Increase

SALT LAKE CITY, UTAH, March 30, 2004 — RecycleNet Corporation (OTC-BB: GARM) today announced significantly improved sales for its fiscal year ended Dec. 31, 2003.

RecycleNet (www.recycle.net), which operates the leading online trading platform for recyclable industrial materials, reported a 35 percent increase in sales to $2,259,301, compared to $1,671,050 for 2002.

The Company posted a net loss for the year of $62,926, primarily due to non-cash expenses in the fourth quarter related to the Company’s corporate branding, marketing and investor relations efforts. In 2002, RecycleNet posted net income of $24,015.

The Company cited continued strong performance from its Internet portal product as a key sales driver for the year. Portal sales increased 34 percent in 2003, with activity rising significantly during the second half of the year. Third- and fourth-quarter sales increased 61 percent and 52 percent respectively.

That growth was also reflected in RecycleNet’s online traffic for the period. The Company reported 66.5 million page views during the course of 2003 -- a 43% increase over the number of page views in 2002 -- and 1.8 million unique web site visitors per month from more than 150 countries worldwide. In the fourth quarter of 2003, RecycleNet moved to build on that momentum with the launch of RecycleXchange.com (www.recyclexchange.com), an online marketplace for buying and selling recyclable materials in Canada.

“2003 was an important year of growth and investment for RecycleNet,” said Paul Roszel, Chairman and CEO of RecycleNet Corporation. "We continued to increase the pace of activity across our network and executed key expansion moves, including the addition of RecycleXchange. We also made an important, organization-wide commitment to fully develop our brand and get our story told in the financial marketplace.”

As previously disclosed, RecycleNet made significant fourth-quarter investments in corporate branding, marketing and investor relations aimed at increasing market-wide knowledge of the company. As these costs were incurred in stock, the Company had an $115,000 non-cash expense for 2003. Without these costs, RecycleNet would have posted net income of approximately $52,000 and cut general and administrative expenses to 22.6 percent of sales, compared to 28.9 percent in 2002.

RecycleNet Corporation (OTC-BB: GARM) was founded in 1995 as an online trading system for recyclable materials. The Company has grown its network of trading sites to serve more than 1.8 million unique users per month, including generators, brokers, dealers, processors and consumers of recyclable materials such as glass, metal, rubber, paper, wood and plastic, along with used vehicles and equipment.

RecycleNet does not buy or sell recyclable materials; instead the Company earns fees for use of its trading network and other services. For more information about the company visit the corporate site www.recyclenet.com or Recycler’s World, the hub of its online trading network, at www.recycle.net.

For further information contact:

Richard Ivanovick
RecycleNet Corporation

Tel. (801) 531-0404

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