SAN FRANCISCO, April 24, 2001 - Paperloop, the premier multimedia information and e-business network for the paper, printing and converting industries, has purchased the Paper Summit exhibition from TAPPI, the leading technical association for the worldwide pulp, paper, and converting industries, for an undisclosed amount. Started in the 1960's, TAPPI'S Paper Summit - also known as the "TAPPI Show" - is the foremost pulp and paper industry equipment and technology exhibit in North America, and attracts more than 500 exhibitors and 9,000 attendees. Held every three years in Atlanta, it is the primary gathering for paper company management and technical personnel to talk with suppliers, view equipment and make purchasing decisions. The Paper Summit rounds out paperloop's trade show family and solidifies the company's position as a leading international exhibition organizer for the pulp, paper and converting industries. TAPPI's Continuing Role With Paper Summit TAPPI will continue to be significantly involved in the event as a co-sponsor and leading content provider. In addition, the group will work with paperloop to build a high quality technical program to accompany the next Paper Summit, scheduled for March 3-6, 2002, at the Georgia World Congress Center. This program will feature three already-successful TAPPI conferences: Papermakers Conference; Process Control, Electrical and Information Conference; and Process and Product Quality Conference. The conference program will also offer a new high-level senior management conference covering important trends in technology and their strategic implications for paper companies in improving product quality, lowering cost, and reducing capital requirements, as well as how to use new IT technology to improve operating efficiency and supply chain management. "Combining TAPPI's organizational strength and premier international reputation with paperloop's industry knowledge, exhibit management and marketing expertise will provide both exhibitors and attendees with the very finest international exhibition for the pulp and paper industry. Together, TAPPI and paperloop will develop and produce a world-class experience that will deliver superior value to the global pulp and paper industry," said Wayne Gross, executive director and COO of TAPPI. "Part of our strategic plan says 'Members will benefit from a variety of creative relationships between TAPPI and other organizations,' so working with paperloop on the Paper Summit provides TAPPI with another way to bring value to its members." "The TAPPI show has always been an important event, and we fully intend on continuing this tradition," said Tim Fazio, president and CEO of paperloop. "However, many new features and events are already being planned to make the event even stronger." "The U.S. leads the world in paper production and consumption, and should have the world's largest paper industry trade show," commented Leo Nadolske, paperloop vice president and director of CMM group, which will take over responsibility for organizing the TAPPI show. "That is our goal."