Braintree, MA, May 9, 2001- EquipNet Direct, Inc., the leader in Idle Asset Optimization(tm) solutions (www.EquipNetDirect.com), today announced a strategic alliance with PharmaBioSource, Inc. The two companies will begin working together to provide pharmaceutical and biotechnology companies with full service idle asset solutions, real estate programs, and facility operations.

This combination of EquipNet Direct's equipment expertise and PharmaBioSource's facility expertise will greatly enhance the operational performance of pharmaceutical and biotechnology companies. Through this alliance, EquipNet Direct and PharmaBioSource will provide companies with access to experienced capacity management resources, cutting edge asset management software solutions, and the ability to redeploy or sell idle equipment for higher prices.

EquipNet Direct is the market leader in the capital asset investment recovery space, with numerous deployments of ARMSTM 3.0, their proprietary software that enables companies to post, tract, identify and redeploy plant equipment on an international scale. PharmaBioSource provides project management and facility marketing and transaction services involving specialized pharmaceutical facilities.

"This alliance will allow pharmaceutical and biotechnology companies to realize substantial savings utilizing PharmaBioSource's outstanding asset transaction resources, and EquipNet Direct's consulting services, asset redeployment software and online marketplace." said Dr. Michael Raymont, CEO and President of EquipNet Direct. "As pharmaceutical and biotechnology companies realize the importance of improving efficiencies, our combined industry experience and innovative solutions will certainly be a key to substantial savings."

"EquipNet Direct complements the full range of PharmaBioSource's asset transaction resourcesby providing world-class asset management solutions," said Bill Wiederseim, President and CEO of PhamaBioSource. "Together, we make mergers, acquisitions and internal restructuring easier and more efficient for pharmaceutical companies." This partnership comes on the heels of EquipNet Direct hiring Martin Moore, formerly president of General Electric Energy Rentals, as President and Chief Operating Officer. In other recent news, EquipNet Direct completed its first round financing, raising an additional $3.62 million this year, bringing the total proceeds raised to over $10 million since May 2000.

About EquipNet Direct
EquipNet Direct, Inc., delivers idle asset optimization solutions to Global 2000 manufacturers helping them improve asset utilization, ROA, and cashflow. EquipNet also helps small/medium sized enterprises purchase effectively and efficiently. EquipNet Direct offers innovative technology as well as comprehensive, end-to-end services across various industries. Industries include pharmaceuticals, chemicals, plastics, health and personal care, food & beverage, forest products, packaging, 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 PharmaBioSource, Inc.
PharmaBioSource, Inc. is a provider of services designed to facilitate transactions involving specialized pharmaceutical facilities, equipment and personnel within the pharmaceutical industry. The company dramatically enhances the operational performance of pharmaceutical and biotechnology companies by realizing optimal financial returns on asset sales and more efficient acquisition cycles for asset procurement for their clients. Through partnerships with world class strategic service providers, PharmaBioSource, Inc. provides capacity asset procurement and disposition services including project management, due diligence, technology transfer and operational strategy solutions. For more information, please visit www.pharmabiosource.com http://www.pharmabiosource.com or call 610-828-9292.

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