BOSTON, MA, - PaperExchange.com, the global e-Marketplace and business solutions provider for the pulp and paper industry, today announced that Duane DeSisto will assume the role of Chief Operating Officer (COO), while maintaining his current position as Chief Financial Officer (CFO). In his new role, Mr. DeSisto will spearhead the company's continued growth and evolution from an exchange model to a full service provider of online solutions that enhance performance for both buyers and sellers of pulp and paper. Since joining PaperExchange in October 1999, Mr. DeSisto has been responsible for many of the company's strategic initiatives. Most notably, he recently spearheaded the effort which led Internet Capital Group (ICG) to increase their stake in the company from 20 to 83 percent. "Much of PaperExchange's growth and success over the past year - from expanded sales and revenues to new product offerings - can be credited to Duane's hard work and contributions," said Kent A. Dolby, president and CEO of PaperExchange. "As we continue to build upon our marketplace model, Duane's role will be to streamline our company's operations to more closely focus on meeting the needs of our customers." Prior to joining PaperExchange, Mr. DeSisto was Chief Financial Officer of AAI-Foster Grant, where he completed numerous acquisitions and doubled the sales volume of the company. He also served as Chief Financial Officer at Zoll Medical Corporation, where he managed the company's 1992 IPO, which earned national recognition as one of the top ten most successful IPOs of that year. Mr. DeSisto received a BS degree from Providence College and earned an MBA from Bryant College. He currently resides in Scituate, Rhode Island.