AssetTRADE Selected by Parker Hannifin to Manage Its Used Industrial Asset Disposition Program Worldwide.

Business Editors

KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Sept. 26, 2000

AssetTRADE (www.assettrade.com), the definitive global marketplace offering full-service for the disposition and acquisition of used industrial equipment and machinery, announced today it has reached an agreement with Parker Hannifin Corporation, the world's leading diversified manufacturer of motion and control technologies. Under the terms of the agreement, Parker Hannifin will contract with AssetTRADE for redeploying, disposing, and sourcing used industrial equipment to support its operations at 230 facilities worldwide. AssetTRADE will provide a variety of services to Parker Hannifin including:

-- Implementation of comprehensive Intranet tools for managing used industrial
equipment;

-- Asset management consulting services including internal redeployment,
equipment appraisal and valuation services; and,

-- Equipment sales and sourcing services through AssetTRADE's exclusive
Internet Marketplace, global sales force and online and offline auction
services.

Parker Hannifin's will list and redeploy its used assets through a secure segment of the AssetTRADE Internet MarketPlace. Parker Divisions will access the database through a browser based and password protected Intranet database that is linked to its existing Intranet, POL (Parker On-Line). If equipment has not been redeployed within Parker Hannifin, it will be released to the AssetTRADE Marketplace for sale and disposition to customers around the world. Parker Hannifin has embraced this new technology and anticipates major benefits by significantly increasing the return on its investment in industrial equipment while reduing the time, expense and paperwork associated with the asset management.

"We are very excited to be selected by Parker Hannifin and are looking forward to serving Parker's plant managers and procurement teams in managing their used equipment," said Gavin Kerr, President of AssetTRADE. "We believe we can help them reduce the hassle of managing used equipment while significantly improving the value of their manufacturing assets. Moreover, we are proud to have been selected by one of the world's finest manufacturing companies as it demonstrates our position as the leader in the disposition of used industrial equipment."

"For many years we have had a very good process in place for internal redeployment of surplus assets. Our short fall was that we were receiving less than fair market value for most equipment and the system was labor intensive," said Robert Kups, Vice President-Manufacturing Technology of Parker Hannifin Corporation. "AssetTRADE was selected because of their full service and traditional used equipment marketing capabilities."

About AssetTRADE

AssetTRADE is the definitive global marketplace for used industrial equipment. The company's on-line and off-line sales and marketing capabilities offer AssetTRADE customers the ability to identify, evaluate, appraise and resell industrial machinery and equipment. Please visit our Web site at www.assettrade.com.