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PolyOne Announces Estimated First-Quarter Results

April 15, 2003

CLEVELAND, April 16, 2003 (PRIMEZONE) -- PolyOne Corporation
(NYSE: POL), a leading global polymer services company, announced
today that it expects to report a net loss of approximately
$19 million to $20 million for first-quarter 2003. The estimate
equates to a net loss of approximately $0.21 to $0.22 per
share.

These results include estimated special charges totaling
approximately $16.2 million after tax, or $0.18 per share.
Sales are estimated to be approximately $645 million, an
increase of 8 percent over first-quarter 2002 and 11 percent
compared with fourth-quarter 2002.

``These results before special items are better than current
consensus street estimates,'' said Thomas A. Waltermire,
chairman and chief executive officer. ``The first quarter's
solid sales growth and higher operating income before special
items compared with both the first quarter of 2002 and the
fourth quarter of 2002 are the result of our efforts to
improve PolyOne's financial performance, despite continuing
economic weakness and the run-up in energy costs.''

Following is a summary of estimated first-quarter 2003 operating
results compared with results of the preceding quarter and
first-quarter 2002:


               Estimated First-Quarter 2003 Results
           (Dollars in millions, except per share data)

                                                 Quarters
                                     1Q03           4Q02        1Q02
                                     ----           ----        ----  
 Sales                              $ 645         $ 580.3     $ 596.3
 Depreciation & amortization          18.5           17.9        17.8
 Operating income (loss)       (15.5) to (17.5)     (13.4)        4.4
 Net loss                      $ (19) to (20)     $ (17.5)    $ (57.3)
 Loss before discontinued
  operations and cumulative
  effect of a change
  in accounting                   (19 to 20)        (17.6)       (3.9)
 Loss per share, diluted       $(0.21 to 0.22)    $ (0.19)    $ (0.64)
 Loss per share before
  discontinued operations       (0.21 to 0.22)      (0.19)      (0.04)
  and cumulative effect of
  a change in accounting
 Per share effect of excluding
  special items, increase             0.18           0.03        0.03

Special items in the first quarter of 2003 are associated
largely with previously announced restructuring initiatives,
including those disclosed during the quarter. On January
14, 2003, PolyOne announced it would eliminate approximately
400 staff positions. On March 26, 2003, the Company announced
that it planned to close its Yerington, Nevada, engineered
films plant.

Following is a comparative preliminary summary of the quarter's
estimated special items. These special items include gains
and losses associated with specific strategic initiatives
such as restructuring or consolidation of operations, gains
and losses attributable to divestment of joint ventures
and certain one-time items. Management's identification
of special items may not be comparable with other companies'
practices.


                   Summary of Estimated Special Items
                               (In millions)

                                                    Quarters
                                            1Q03      4Q02      1Q02
                                            ----      ----      ----
 Employee separation and
  plant phase-out costs                  $ (24.9)    $  --     $ (0.9)
 Period plant phase-out costs incurred      (0.9)     (0.4)      (0.1)
 Equity affiliate - employee severance,
  Liabilities associated with the
  temporary idling of a plant and
  cumulative effect of a change
  in accounting                             (0.8)       --       (0.7)
 Loss on divestiture of equity investment    --       (3.6)      (1.5)
  Subtotal - impact on EBITDA (expense)    (26.6)     (4.0)      (3.2)
 Plant phase-out accelerated depreciation    --       (0.3)      (0.5)
  Subtotal - impact on operating (expense) (26.6)     (4.3)      (3.7)
 Investment write-down                       --       (0.8)      (1.5)
   Total - impact on pre-tax (expense)     (26.6)     (5.1)      (3.7)
 Income tax benefit                         10.4       2.0        1.4
   Total - impact on after-tax (expense)
   before discontinued operations and
   cumulative effect of a change
   in accounting                         $ (16.2)    $(3.1)    $ (2.3)

Conference Call

PolyOne will host an analyst conference call at 1 p.m. Eastern
time on Friday, May 2, 2003. The conference call number
is 888-489-0038 or 706-643-1611 (international), conference
topic: PolyOne 1Q 2003 Earnings Call, conference ID 6571725.
The call will be broadcast live and then via replay for
two weeks on the Company's Web site: http://www.polyone.com.

About PolyOne

PolyOne Corporation, with 2002 revenues of $2.5 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 http://www.polyone.com.

Forward-Looking Statements

In this press 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; (15) a delay or inability to achieve
targeted debt levels through divestitures or other means;
and (16) a delay or inability to replace the Company's current
receivables sale facility by June 30, 2003.

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 statements.

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. No. 103)


clear=all> Contact:

PolyOne Corporation

Investor & Media Contact

Dennis Cocco

Vice President, Investor Relations & Communications

(216) 589-4018

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