Braintree, MA, May 21, 2001 - EquipNet Direct, Inc., the leader in Idle Asset Optimization TM solutions (www.EquipNetDirect.com), today announced an exclusive contract with Eastman Chemical Company to provide asset redeployment and recovery consulting services for the global company.

Eastman, an e-commerce leader within the chemical industry, will be one of the first companies to implement EquipNet Direct's newly updated and world leading software, ARMS TM 3.0 (Asset Redeployment Management System), patent pending. Using EquipNet Direct's internet-based technology, Eastman will be able to post, track, identify and redeploy plant equipment for operations in at least ten countries, including The United States, The United Kingdom, Singapore, Malaysia, Mexico, Italy, Czech Republic, and Belguim. EquipNet Direct will also manage the external sale of idle and surplus equipment through MarketPlace, their online equipment exchange.

"The addition of Eastman as an EquipNet Direct client is another indication that there is a real need for innovative, proven internal redeployment services in the major manufacturing sector," said Dr. Michael Raymont, Chairman of EquipNet Direct. "We're looking forward to helping Eastman add to their bottom line by efficiently and methodically redeploying their idle assets on a global scale." "With the implementation of ARMS 3.0 and EquipNet Direct's consulting services, we will be able to maximize our internal resources," said Debbie Davis-Waltermire, director, WorldWide Indirect Material and Services at Eastman.. "Our relationship with EquipNet Direct will help us to enhance our operational performance and allow us to continue to focus and invest in our core business objectives."

With this signing, Eastman joins other industry leaders such as Novartis, BASF, Louisiana-Pacific, Nestle Canada and Inland Paperboard and Packaging, Inc. in the successful implementation of EquipNet Direct's Asset Redeployment Management System.

EquipNet Direct offers a full range of idle asset optimization consulting solutions, including:

• The development of corporate-wide idle asset management strategies for Global 2000 manufacturers
• The delivery of customized solutions for individual plants
• Execution of these plans for customers through the delivery of technology, internal redeployment of idle assets, and the management and sale of surplus equipment/facilities using multiple sales channels designed to maximize financial returns.

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 Eastman Chemical Company
Headquartered in Kingsport, Tenn., Eastman Chemical Company manufactures and markets chemicals, fibers and plastics. An e-commerce leader within the chemical industry, Eastman employs approximately 15,000 people in more than 30 countries and had 2000 sales of $5.3 billion. Visit Eastman's Web site at www.eastman.com for further information about the company.

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