ChemConnect and Envera Announce Merger; Leading Online Marketplace for Chemicals and Plastics and Major Industry Consortium Join Forces, Heralds New B2B Era.

Business Editors

SAN FRANCISCO & RICHMOND, Va.--(BUSINESS WIRE)--June 7, 2001

Offering the only complete e-commerce solution for buyers and sellers of chemicals and plastics worldwide, ChemConnect Inc. and Envera today announced they have merged. The agreement between ChemConnect, operator of the World Chemical Exchange, a dynamic online marketplace supported by strategic e-commerce services, and Envera, a leading global electronic network for chemical and petrochemical industry B2B supply chain transactions and services, is effective immediately. Dedicated solely to creating value for buyers and sellers of chemicals and plastics, the merged company offers increased efficiency, cost optimization, and improved collaboration with existing and new business partners across the entire supply chain, from prospecting to fulfillment and settlement.

"ChemConnect is the leading online marketplace for chemicals and plastics. Envera offers unparalleled supply chain integration. Together, we create the first online Marketplace Plus that offers a flexible, modular approach to accommodate different stages of adoption," said John Robinson, ChemConnect CEO, who will now serve as CEO of the merged entity. "Combining our complementary strengths and shared vision, we will have an unbeatable solution: A seamless connection to the entire workflow, from identifying new business partners to fulfillment. It's what our Members told us they want, and with this merger, we are making it all available."

ChemConnect and Envera will offer their Members unmatched, online global buying and selling opportunities, supported by end-to-end connectivity and collaboration--including sales, logistics, and financial services--across entire supply chains. With each company's proven B2B expertise in creating new efficiencies and improved bottom-lines for their members, the two companies together represent the first fully-integrated, full-service e-commerce solution, where buyers and sellers of chemicals and plastics can meet in an open, independent marketplace to find new business partners, negotiate purchases and sales, and complete order fulfillment through automated back-office business processes and system-to-system integration. Because both companies' solutions are "ready-now," with low entry costs, chemicals and plastics buyers and sellers can immediately, and profitably, benefit from procurement, sales, and supply chain efficiencies.

The companies will also continue their commitment to the Chemical Industry Data Exchange (CIDX) and the development of Chem eStandards(TM), the standards for the transfer of XML documents between Enterprise Resource Planning (ERP) systems, which enable global collaboration among many partners. Transactional efficiencies and cost optimization results as companies connect to trading partners through the World Chemical Exchange or through the Envera Network.

"We have the solutions, the dedication, the experience, and the expertise to help our Members--and all those who will become our Members--to increase their sales and procurement efficiencies, from the start of the online negotiating processes to final product delivery," said Bob Mooney, Envera CEO and newly appointed member of ChemConnect's Board of Directors. "This is now the only virtual one-stop solution for all buyers and sellers of chemicals and plastics in companies of all sizes, around the world."

About ChemConnect

ChemConnect, Inc. (www.chemconnect.com) operates the World Chemical Exchange, offering buyers and sellers of chemicals and plastics a dynamic, independent Internet marketplace supported by strategic e-commerce services. World Chemical Exchange Members have a choice of sales and procurement solutions that meet specific business requirements, and also benefit from ChemConnect's unmatched industry and e-commerce expertise. ChemConnect's online trading tools include the Exchange Floor, Corporate Trading Rooms, and the Commodities Floor. Founded in 1995, ChemConnect is headquartered in San Francisco, California.

About Envera

Envera is a trusted e-business solutions provider that improves members' supply-chain communications and fosters business growth in the chemical and petroleum industries. Envera's initial equity and trading partners include: Albemarle Corporation (NYSE: ALB); Borden Chemical, Inc; Enron Global Markets group of Enron (NYSE: ENE) Equistar; Ethyl Corporation (NYSE: EY); Lubrizol (NYSE: LZ); Lyondell Chemical Co. (NYSE: LYO); Mays Chemical; Occidental Chemical Corporation; Phenolchemie; Solutia (NYSE: SOI); Peak Chemical LLC; Southern Chemical; and Vopak USA.

Note to Editors: ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.