Cyclics Completes Large CBT Resin Production Run

Rensselaer, NY - October 3, 2001 - Cyclics Corporation held the groundbreaking for construction of their new headquarters facility in Schenectady, NY, today. At the event, the company announced a successful large production of their CBT(TM) plastic resin that will be used for commercial introduction early next year. Cyclics Corporation has also contracted 23 substantial development agreements involving 40 applications in industries such as automotive, wind power, construction, electrical, sports equipment and plastics compounding.

Cyclics Corporation is currently located at two different facilities in the state of New York and one facility in Germany. In the US, Cyclics Corporation has its polymer chemistry laboratory and main offices located in Rensselaer, New York and application development and customer support in nearby Clifton Park. The new facility will consolidate the New York State based operations into a 22,000 square-foot building located in Schenectady's Riverside Technology Park. The European headquarters of Cyclics Corporation recently expanded and moved into new offices in Filderstadt, close to Stuttgart, Germany.

"The new facility will be built and owned by the Rotterdam-based Galesi Group in partnership with BBL Construction Services LLC and will be leased to Cyclics. Under the guidance of the Schenectady Economic Development Corporation, Cyclics obtained funding from the Schenectady Metroplex Development Authority and Schenectady City Council, Schenectady County Legislature and assistance from the City of Schenectady Industrial Development Agency. We saw every development agency in the community work together to make this project happen", said John Ciovacco, Cyclics' CEO.

Cyclics Corporation also announced completion of a large CBT (TM) resin production run. "We are excited and encouraged by the high production efficiencies and excellent quality of the CBT resin" said Gary Faler, Cyclics' Chief Technology Officer. "This second production run will supply customer qualification trials and next years commercial product launch".

So far Cyclics Corporation contracted 23 substantial development agreements involving 40 applications including concrete reinforcing tapes, structural automotive frame parts, large wind power rotor blades, highly filled specialty molding compounds, graphite golf shafts and composite bicycle frames.

Cyclics Corporation is a privately held company dedicated to the development and supply of a revolutionary new plastics technology: Cyclics Resins. Their innovative products rely on a water-like processing viscosity coupled with a unique chemistry allowing molders to completely rewrite the rules of plastic processing. Cyclics Corporation supplies industries such as automotive, wind power, construction, electrical, sports equipment and plastics compounding. Cyclics resins will have a profound effect on global markets, enabling manufacturing and performance as never before possible.

For facility information contact:

Mr. Tim Ullman, Director of Facilities, +1 (518) 591-8321

For commercial and technical information contact:

Ms. Aase Nielsen, Director of Marketing, +1 (518) 428-4881