RubberNetwork.com, LLC Announces a Ninth Member, Hankook Tire Co., Ltd.

    ATLANTA, April 26 RubberNetwork.com, LLC, a global
electronic purchasing and procurement marketplace created by six leading
companies in the tire and rubber industry, announced the addition of the ninth
major tire company to the marketplace.  Hankook Tire Co., Ltd., of Korea has
become a member of RubberNetwork.com, LLC.
    RubberNetwork.com(SM) announced in February that they had received
approval from the German Federal Cartel Office (Bundeskartellamt) clearing the
transaction and giving a green light to the establishment of the marketplace
and to the commencement of its operations.  The Marketplace Platform went live
April 9, with the first North American business release.  This will be
followed by progressive launches of functionality in North America, and in
turn, followed by launches in Europe and Asia in the course of 2001 and
thereafter.
    Bob Webster, vice president of operations, noted the company is evolving
around the globe.  "We have teams preparing, progressively, for the European
and Asian launches during the second half of 2001.  In late February, we
officially welcomed Yokohama and in early March we officially welcomed Toyo."
Webster continued to describe the evolution of the business -- "Just as we
have Founder-loaned employees starting to build European operations in a
temporary European Headquarters in Amsterdam, in April, we initiated the same
process with Asian Member-loaned employees in Makuhari, Chiba, Japan."
    The RubberNetwork(SM) membership now includes nine of the largest
companies in the tire and rubber industry.  They are: Continental AG; Cooper
Tire & Rubber Company; The Goodyear Tire & Rubber Company; Groupe Michelin;
Hankook Tire Co., Ltd.; Pirelli SpA; Sumitomo Rubber Industries; Toyo Tire and
Rubber Co., Ltd.; and The Yokohama Rubber Co., Ltd.  The nine members
represent more than half of the industry's global tire manufacturing capacity.
Total purchases for the industry are estimated at more than $50 billion a year
on raw materials, equipment, machinery, goods and services.
    The RubberNetwork marketplace will be open to all tire and rubber industry
manufacturers and suppliers.  Webster noted, "Our buy-side marketplace model
encourages sellers to derive value by actively utilizing all of the
RubberNetwork service offerings.  We also welcome the opportunity to work
closely with other existing and future exchanges."

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