<B>Paperloop Acquiring Fibre Management Co.</b>

paperloop.com reached an agreement in principle to acquire Fibre Management Co., a paper stock company and developer of fully integrated fiber procurement, brokerage and logistics operating systems.

The Fibre Management Software platform is currently used by paper mills, brokerages and packaging plants throughout North America.

FMC designs and produces software systems that allow its customers to perform a full range of paper procurement and mill receiving services such as placing and tracking orders, logistics, monitoring product quality, inventory, quality control and accounts payable function. In addition to these procurement module features, a Brokerage module has been developed for linkage of purchase orders and sales orders, as well as profitability analysis.

``In addition to providing ASP solutions for fiber purchasers, paperloop.com plans to establish an on-line trading floor based on the software developed by Fibre Management,'' said Roger Hoffman, vice chairman of paperloop.com. ``The combination of superior software with paperloop.com's traffic is expected to generate a place where buyers and sellers of fiber can quickly conduct business in a highly efficient manner.''

``We're thrilled to join the paperloop family,'' said Glenn Gibbons, President of Fibre Management Company. ``Our products are ideal for anyone in the paper, printing and converting industries who buys or sells paper so we feel we're a natural fit with the world's leading provider of information to the pulp and paper industry.''

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June 2000
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