PolyOne Acquires Spanish Colorants Producer

January 15, 2003

CLEVELAND, Jan. 15 /PRNewswire-FirstCall/ -- PolyOne Corporation
(NYSE: POL), a leading global polymer services company, announced today that
it has completed the funding of its December 19, 2002 acquisition of
Transformacion de Pigmentos y Colorantes, S.A. (TRANSCOLOR), a large color
concentrates producer operating near Pamplona in northern Spain.

TRANSCOLOR, with annual revenues of approximately $36 million (USD), is an
ISO 9000-accredited, market-leading producer of color concentrates, with
special emphasis on black and white products.

"TRANSCOLOR enhances PolyOne's product portfolio and provides a stronger
platform for the delivery of our color and additive concentrates to customers
in Spain and Portugal," said Bernard Baert, vice president of international
operations for PolyOne. "In TRANSCOLOR, we have acquired an excellent company
with a fine reputation among its customers, and we feel very positive about
working with its skilled management and sales team."

The existing TRANSCOLOR management team, which will remain in place, has
been integrated into PolyOne's European Color & Additives division.

PolyOne has already moved some production from its Saint-Ouen L'Aumone
site near Paris to TRANSCOLOR, freeing capacity and allowing the French plant
to focus on the production of color and additive systems for local customers.

About PolyOne

PolyOne Corporation, with 2001 revenues of $2.6 billion, is an
international polymer services company with operations in thermoplastic
compounds, specialty resins, specialty polymer formulations, engineered films,
color and additive systems, elastomer compounding and thermoplastic resin
distribution. Headquartered in Cleveland, Ohio, PolyOne has employees at
manufacturing sites in North America, Europe, Asia and Australia, and joint
ventures in North America, South America, Europe, Asia and Australia.
Information on the Company's products and services can be found at
www.polyone.com .

Forward-Looking Statements

In this release, statements that are not reported financial results or
other historical information are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements give current expectations or forecasts of future events and
are not guarantees of future performance. They are based on management's
expectations that involve a number of business risks and uncertainties, any of
which could cause actual results to differ materially from those expressed in
or implied by the forward-looking statements. You can identify these
statements by the fact that they do not relate strictly to historic or current
facts. They use words such as "anticipate," "estimate," "expect," "project,"
"intend," "plan," "believe" and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance.
In particular, these include statements relating to future actions;
prospective changes in raw material costs, product pricing or product demand;
future performance or results of current and anticipated market conditions and
market strategies; sales efforts; expenses; the outcome of contingencies such
as legal proceedings; and financial results. Factors that could cause actual
results to differ materially include, but are not limited to: (1) an inability
to achieve or delays in achieving estimated and actual savings related to
restructuring programs; (2) delays in achieving or inability to achieve the
Company's strategic value capture initiatives, including cost reduction and
employee productivity goals, or achievement of less than the anticipated
financial benefit from the initiatives; (3) the effect on foreign operations
of currency fluctuations, tariffs, nationalization, exchange controls,
limitations on foreign investment in local businesses and other political,
economic and regulatory risks; (4) changes in U.S., regional or world polymer
and/or rubber consumption growth rates affecting the Company's markets; (5)
changes in global industry capacity or in the rate at which anticipated
changes in industry capacity come online in the polyvinyl chloride (PVC),
chlor-alkali, vinyl chloride monomer (VCM) or other industries in which the
Company participates; (6) fluctuations in raw material prices, quality and
supply and in energy prices and supply, in particular fluctuations outside the
normal range of industry cycles; (7) production outages or material costs
associated with scheduled or unscheduled maintenance programs; (8) costs or
difficulties and delays related to the operation of joint venture entities;
(9) lack of day-to-day operating control, including procurement of raw
materials, of equity or joint venture affiliates; (10) partial control over
investment decisions and dividend distribution policy of the OxyVinyls
partnership and other minority equity holdings of the Company; (11) an
inability to launch new products and/or services that strategically fit the
Company's businesses; (12) the possibility of goodwill impairment; (13) an
inability to maintain any required licenses or permits; (14) an inability to
comply with any environmental laws and regulations; and (15) a delay or
inability to achieve divestitures necessary to achieve targeted debt levels.

We cannot guarantee that any forward-looking statement will be realized,
although we believe we have been prudent in our plans and assumptions.
Achievement of future results is subject to risks, uncertainties and
inaccurate assumptions. Should known or unknown risks or uncertainties
materialize, or should underlying assumptions prove inaccurate, actual results
could vary materially from those anticipated, estimated or projected.
Investors should bear this in mind as they consider forward-looking

We undertake no obligation to publicly update forward-looking statements,
whether as a result of new information, future events or otherwise. You are
advised, however, to consult any further disclosures we make on related
subjects in our Form 10-Q, 8-K and 10-K reports to the Securities and Exchange
Commission. You should understand that it is not possible to predict or
identify all such factors. Consequently, you should not consider any such
list to be a complete set of all potential risks or uncertainties. (Ref. #103)
SOURCE PolyOne Corporation

/CONTACT: U.S. Media & Investor Contact, Dennis Cocco, Chief Investor &
Communications Officer, +1-216-589-4018, or International Media Contact,
Siobhan Ahern, Marketing Assistant, International Plastic Compounds and
Colors, +32-83-660-273, both of PolyOne Corporation/