Braintree, MA, October 5, 2000 - EquipNet Direct, the only online asset management company offering complete internal/external, on/offline solutions to customers, announced today the signing of a major contract with the BASF Corporation, the North American affiliate of BASF AG (NYSE: BF). BASF, the world's largest producer of chemicals and chemical-related materials, will implement its proprietary investment recovery program at up to 50 BASF sites in North America .

With this signing, BASF joins major companies such as Louisiana-Pacific, Nestle Canada and Inland Paperboard and Packaging, Inc. in the successful implementation of EquipNet Direct's Asset Redeployment Management System (ARMS). ARMS gives companies a centralized tracking tool for idle and surplus assets. Those assets may be redistributed internally, or moved seamlessly following a fixed listing period to EquipNet Direct's Marketplace for external sale.

Following EquipNet Direct's complete analysis of the company, BASF recognized the need for a complete, end-to-end solution for dealing with internal assets. Therefore, EquipNet Direct is implementing ARMS in 50 BASF plants across the country.

"With the implementation of ARMS, we are now able to identify whether there is an internal need for the equipment, or move it onto the open marketplace in a timely and efficient manner," said Ron Sizemore, supply analyst in the resource recovery and ecology services group at BASF Corporation. "We are now in a position to continue to focus on and invest in the success of executing our core business objectives."

At each BASF location, there will be one manager with overall responsibility for administration of ARMS. The on-site managers will have access to customized reports that track the status of redeployment efforts of each piece of equipment. If equipment is not redeployed within the BASF system within 20 days, it will be placed on the EquipNet Direct Marketplace, the company's Internet-based open auction site.

"The addition of BASF as a client is another indication that there is a real need for internal redeployment services within the manufacturing industry," said Dr. Michael Raymont, chairman of EquipNet Direct. "We are looking forward to working with BASF employees throughout the country who will be using ARMS to facilitate idle asset redeployment."

As part of its complete service offering, EquipNet Direct has initiated training programs for the use of ARMS for plant personnel in all 50 of the contracted sites. The program will be completely rolled out at all of the contracted locations by mid-October.

About EquipNet Direct

EquipNet Direct, Inc. provides Fortune 1000 global manufacturers and small- and medium- sized enterprises with both internal and external asset redeployment solutions. EquipNet Direct offers innovative on- and off-line solutions as well as comprehensive end-to-end service that administer buying and selling services across various industries. Industries include chemical, food & beverage, forestry, packaging, pharmaceutical, plastics and warehousing. The management team includes seasoned pioneers in the industrial equipment and investment recovery arena, as well as eCommerce veterans. Visit EquipNet Direct's Web site at www.EquipNetDirect.com.

About BASF

BASF Corporation and its subsidiaries is the third largest producer of chemicals and related products in the United States, Canada and Mexico, with sales of $7.2 billion in 1999. BASF in North America is based in Mount Olive, New Jersey and is the North American affiliate of BASF AG (NYSE: BF) of Ludwigshafen, Germany. "We don't make a lot of the products you buy. We make a lot of the products you buy better.®" summarizes BASF's diverse product mix, including chemicals, polymers, automotive and industrial coatings, colorants, pharmaceuticals, nylon fibers and agricultural products. BASF in North America employs more than 16,000 people at more than 50 locations and has an Internet address at http://www.basf.com.

Slogan is a registered trademark of BASF Corporation.

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