CMXchange to Auction Assets of Minerva Aluminum Co. May 21, 2003

    NORTHFIELD, Ill.--May 6, 2003--Commodities Management Exchange Inc. (CMXchange), the Internet-based integrated commodities management services company, announced today that it will conduct an auction at 10 a.m. (CDT), May 21, 2003, for all assets of Minerva Aluminum Co., a producer of specification secondary aluminum ingot.
    Minerva Aluminum Co.--which realized an operating profit of $1.05 million and net earnings of $314,021 in 2001--occupies a 6.4 acre tract in Minerva, Ohio, and has a monthly production capacity of 14 million pounds of secondary aluminum ingot. Judge William J. Martin of the Carroll County (Ohio) Court of Common Pleas authorized the auction after Minerva requested court supervision over the winding up of its affairs.
    In addition to the 6.4 acres, Minerva's assets include two rotary buildings, a 100 by 50 feet ingot warehouse, lab office, tank housing, and an office and an ingot building. The company has four proprietary furnaces and four rotary furnaces, producing low profile sow, four way sows and 30 pound ingot. All these assets are currently being operated under a short term lease arrangement.

       CMXchange will conduct two conference calls to allow any
       interested parties to ask questions regarding the auction.
       The first such call will be Friday, May 9 at 10:00 a.m. (CDT). 
       The second will be Monday, May 12 at 2:00 p.m. (CDT). 
       Interested parties should call in toll free to participate 
       at: (800) 480-0344 (PIN: 6110219).

    Sandy Beard, CMXchange's chief operating officer, explained that the May 21 auction will be open to all qualified bidders, not just to CMXchange's 350 members. Participants must submit a written expression of interest and a $100,000 refundable deposit by 4 p.m. (CST) May 19. An expression of interest may be submitted via e-mail to CMXchange at www.cmxhange.com. Mr. Beard added that bidding requirements, auction rules and pertinent information about Minerva's assets can be found at www.minalco.com.
    "CMXchange is honored to have been chosen by the Court-appointed Receiver to ensure that this auction is conducted in the most efficient manner possible, reaching the maximum number of participants and, ultimately, the highest bidder." said Mr. Beard.

    Commodities Management Exchange Inc. is a Northfield, Illinois-based, privately held company, staffed by professionals with decades of experience in all aspects of total commodity management, including base metals procurement, price risk management, logistics and information reporting. CMXchange operates an e-commerce service platform for non-ferrous, ferrous and platinum group metals that are used by companies throughout the metals supply chain to facilitate the procurement and sales of physical materials. A new trading platform recently introduced called CMXflexclear offers a family of over-the-counter cash-settled forward metals contracts which offer market participants efficient tools with which to hedge against adverse price swings.
    CMXchange, a privately held concern, is a certified Minority Business Enterprise.

    CMXchange "Total Commodity Management for Tomorrow...Today"