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Paperloop Restructures for More Integrated Approach

Press release from the issuing company

San Francisco, April 29, 2002 - In a drive to better integrate their information products and operational divisions, Paperloop announced March 27, 2002 a restructuring of their operations. The new organizational structure will fully incorporate RISI (Resource Information Systems, Inc.), the company’s economic forecasting division. Paperloop acquired RISI late 2000. As part of the move, Rod Young, previously President of RISI, will adopt increased responsibility as Senior Vice President, Information Products for Paperloop. He assumes P&L responsibility for newsletters, books, reports, and analyses for the pulp and paper, wood and non-woven sectors. Liza Turner, formally also of RISI, is promoted to VP Sales and Marketing for Paperloop Information Products. The changes reaffirm Paperloop CEO Ian Johnston’s stated commitment to grow Paperloop as an information company. Johnston took over the CEO seat July of 2001 and states, “Paperloop is, and will remain, primarily an information product company. We will aggressively develop new products and package complimentary products to offer customers a more comprehensive range.” Paperloop’s previous e-business division will be absorbed into editorial, publishing and operations functions to better meld on-line and off-line information. The restructuring will involve a reduction in staff size of around 10% and job-cuts will be mainly e-business-related, affecting staff at the San Francisco headquarters. Paperloop.com will remain the company’s primary website and will increasingly represent all Paperloop products and services. The CMM tradeshow division will assume full responsibility for convertingloop.com, Paperloop’s network for the converting and package printing industries.