Pallet Management Systems Names Marc Steinberg Controller.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--Oct. 2, 2000

Pallet Management Systems, Inc. (OTC/BB:PALT) today announced that Marc Steinberg has joined the company as Corporate Controller. Steinberg will oversee the company's financial operations, which will include; financial records, SEC reporting, cash management, treasury, and banking.

"Marc is a valuable addition to our team, bringing many years of accounting and manufacturing experience," Zachary M. Richardson, President of Pallet Management Systems, said. "His knowledge of manufacturing cost accounting and of cash management systems will help ensure that Pallet Management Systems is taking full advantage of all opportunities to maximize our profitability."

Steinberg was most recently Controller of TFG Corporation, Ft. Lauderdale, Fl., which operated partnerships for several private educational and transportation organizations. Previously, he served as Controller of RTP Corp., a Pompano Beach., Fl.-based electronics manufacturer; Corporate Controller of Mederer Corporation, a candy manufacturer in Plantation, Fla.; Corporate Cost Accounting Manager and Plant Controller at theft detection device manufacturer Sensormatic, Boca Raton, Fl.; and Manager, Cost Accounting of Racal Datacom, Sunrise, Fl., a telecommunications devices manufacturer. He also worked for Baxter Travenol and Anderson Clayton and Co., and started his career at Ernst and Whinney in Houston. Steinberg earned a BS in Accounting from the University of Florida, and holds CPA, CMA, CPIM designations.

Pallet Management Systems (PALT) focuses on total solutions for its customers' pallet and packaging needs through a wide variety of products and services, including manufacturing and distributing new and recycled pallets as well as reverse distribution services. The primary users of PALT's services are in dozens of manufacturing and distribution businesses, including the food and beverage; steel and metal; chemical and fluid; paper and fiber; automotive and printing industries. PALT currently employs more than 450 people at 10 locations. Additional information on the Company is available at www.palletnet.com.

"SAFE HARBOR" STATEMENT

Except for the historical information contained herein, certain of the matters discussed in this press release are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which involve certain risks and uncertainties, including but not limited to, changes in general economic conditions, material prices, labor costs, interest rates, consumer confidence, competition, environmental factors, and governmental regulations affecting the company's operations. See the company's Form 10-KSB for the year ended June 26, 1999, for a discussion of these and other risks and conditions applicable to the company's business.