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PolyOne to Sell Stake in So.F.teR S.p.A. Joint Venture

December 4, 2002

CLEVELAND, Dec. 4 /PRNewswire-FirstCall/ -- PolyOne Corporation
(NYSE: POL), a leading global polymer services company, and So.F.teR S.p.A., a
leading Italian compounder of thermoplastic materials, including thermoplastic
elastomers (TPEs), jointly announced today that they have completed a
transaction whereby PolyOne has sold its majority interest in So.F.teR while
licensing certain key technologies.

Under terms of their agreement, PolyOne has sold its 70 percent position
to an Italian company administered by Dr. Italo Carfagnini, who will continue
to act as managing director of So.F.teR. The purchase price was not
disclosed.

The agreement further specifies that PolyOne will have an exclusive
technology and trademark license for production and sale of So.F.teR's
Forprene(TM) thermoplastic vulcanizate (TPV) technology in North America and
Asia, and will continue to represent So.F.teR products on a distribution basis
to PolyOne customers in Europe. Additional terms provide for a continuing
relationship between the parties for future technology development within this
product area.

The relationship between PolyOne and So.F.teR dates to 1998 when M.A.
Hanna Company, which is now part of PolyOne, entered into a joint venture with
Bifan S.A., a holding company that controlled So.F.teR. PolyOne reported
financial results from the polymer compounder within its Performance Plastics
segment.

"This is an amicable separation that has positive implications for both
parties," said V. Lance Mitchell, PolyOne's group vice president of Plastic
Compounds and Colors. "We at PolyOne have enjoyed this partnership, and now
we look forward to expanding our global presence in the market for
Forprene(TM) TPV and other innovative TPE technologies."

Said Carfagnini: "So.F.teR has benefited from the opportunity to work
first with M.A. Hanna and then with PolyOne, and now we are eager to move
forward on a different path, growing in new directions, including working with
PolyOne in fresh and exciting ways."

Both companies stressed that no customer disruptions will result from
PolyOne's divestiture. So.F.teR will continue to serve its current customers,
and PolyOne will continue working with customers in North America and Asia on
the development and marketing of Forprene(TM) TPV technology, as well as
distributing So.F.teR products to its European customers.

Headquartered in Forli, Italy, So.F.teR has three production facilities
where it compounds a variety of thermoplastic materials, including filled
polyolefins, cross-linked polyethylene, TPEs and its patented TPV product
range. Its products are used in the footwear, automotive, appliance, building
materials, leisure and appliance markets. Information on the company's
products and services can be found at www.softerspa.com .

PolyOne Corporation, with revenues approximating $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, 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 the Company's strategic value initiatives, including cost
reduction and employee productivity goals, or achieving 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 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, quality 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 feedstocks, of other 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; and (14) an inability to comply with any environmental
laws and regulations.

SOURCE PolyOne Corporation

CONTACT: Dennis Cocco, Chief Investor & Communications Officer of
PolyOne Corporation, +1-216-589-4018

Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/394325.html

Web site: http://www.polyone.com

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