PolyOne Completes Assessment of Goodwill Impairment

April 8, 2002

CLEVELAND, Apr 8, 2002 /PRNewswire-FirstCall via COMTEX/ -- PolyOne Corporation
(NYSE: POL), a leading global polymer services company, announced today that it
has adopted Statement of Financial Accounting Standards No. 142, "Goodwill and
Other Intangible Assets," and has completed its assessment of goodwill
impairment. The standard eliminates goodwill amortization upon adoption, and
requires an assessment for goodwill impairment upon adoption and at least
annually thereafter.

As a result, PolyOne will recognize a non-cash transitional impairment charge of
$55 million, to be reflected as a cumulative change in accounting principle in
the first quarter of 2002. The required evaluation under the new standard showed
that goodwill related to the 1999 acquisition of PolyOne's Engineered Films
operation was impaired.

Also, as of December 31, 2001, PolyOne had an intangible asset of $25.2 million
recorded for acquired workforces, with annual amortization of approximately $4
million. Under the new accounting standard, the intangible workforce asset was
reclassified as goodwill. As a result of the reclassification and recognition of
the goodwill impairment charge, goodwill will total $447 million on PolyOne's
balance sheet as of March 31, 2002.

PolyOne will release 1st quarter 2002 earnings on April 30, 2002 and will host
an analyst conference call at 9:00 am, ET on May 1, 2002. The call will be
broadcast live and for two weeks on the Company's Web site: www.polyone.com .

About PolyOne

PolyOne Corporation, with annual revenues approaching $3 billion, is an
international polymer services company with operations in thermoplastic
compounds, specialty vinyl resins, specialty polymer formulations, engineered
films, color and additive systems, elastomer compounding, and thermoplastic
resin distribution. Headquartered in Cleveland, PolyOne has more than 8,000
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 .

Private Securities Litigation Reform Act of 1995

In this release contains 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, including, for example,
statements about business outlook, assessment of market conditions, strategies,
future plans, future sales, prices for major products, inventory levels, capital
spending and tax rates. These forward- looking statements 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. Factors that could cause actual results to differ
materially include (but are not limited to): (1) an inability to achieve or
delays in achieving savings related to consolidation and restructuring programs;
(2) delays in achieving or inability to achieve cost reduction and employee
productivity goals and other strategic value capture 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 world, regional
or U.S. plastic, rubber and PVC 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 PVC, VCM, chlor-
alkali or other industries in which the Company participates; (6) fluctuations
in raw material prices and supply and 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
material feed-stocks, of other equity or joint venture relationship companies;
(10) lack of direct control over the reliability of delivery and quality of the
primary raw materials utilized in the Company's products; (11) partial control
over investment decisions and dividend distribution policy of the OxyVinyls
partnership and other minority equity holdings of the Company; (12) an inability
to launch new products and/or services that fit strategically with and add value
to the Company's business; (13) the possibility of goodwill impairment; (14) an
inability to maintain any required licenses or permits; (15) an ability to
comply with any environmental laws and regulations.

CONTACT: Investors & General Media, Dennis A. Cocco, Chief Investor &
Communications Officer, +1-216-589-4018, or dennis.cocco@polyone.com