B2B Vertical Markets Inc. invests in NET3F Inc., an automotive sector B2B marketplace

MONTREAL, April 26

Mediagrif Interactive Technologies Inc. (TSE: MDF) announced today that B2B Vertical Markets Inc., a strategic alliance between Royal Bank of Canada (RY) and Mediagrif, is purchasing shares in NET3F Inc., an established company bringing B2B solutions to the automotive industry. B2B Vertical Markets will invest up to $2 million CDN to acquire a controlling interest in NET3F, a Montreal based B2B marketplace and supplier of management software operating in the automotive industry.

NET3F's marketplace is a simple and fast solution for purchasers and vendors of automotive parts. It facilitates searching, purchasing and selling automotive parts throughout the supply chain, without changing the existing relationship among the players of the industry. It also offers the convenience of 24-hour accessibility and on-line catalogues for its members. Overall, the marketplace creates value for users by offering time savings and increased revenues by improving efficiencies in the industry's traditional business processes.

In Canada, the automotive parts industry is a $14 billion market. There are an estimated 180 million annual transactions among industry players buying and selling automotive components. NET3F targets a market of over 9,000 suppliers and more than 46,000 buyers. Today, more than 1,100 companies are members of NET3F, including major suppliers, such as Leader Auto Resources LAR Inc., Groupe Multipro Inc., and P.H. Vitres d'Autos Inc. who list products on the site, and car dealers and repair shops who use the NET3F marketplace to source parts.

"B2B Vertical Markets Inc. brings us the operational expertise and technology capabilities of Mediagrif needed to sustain and grow our business. It also provides the capital necessary to expand across Canada and eventually the United States," commented Reynald Fortier, Chief Executive Officer of NET3F.

"NET3F brings the essential elements for a successful marketplace to a critical mass of customers--transactional functionalities and value added solutions," stated Denis Gadbois, President and CEO of Mediagrif and President of B2B Vertical Markets. "These elements, combined with NET3F's management expertise, make it a sound investment for B2B Vertical Markets. This initiative allows Mediagrif to demonstrate the adaptability of its technology and the value of its operations in another important industry."

"This opportunity presents a sound business model that creates value for all participants," commented Tom Wolf, senior vice-president, eBusiness at Royal Bank. "We have explored a number of opportunities since announcing our strategic alliance with Mediagrif and this deal successfully met all our criteria for success and best strategic fit. Mediagrif has built a profitable business by making sure that all the elements needed for a successful vertical marketplace are present and Royal Bank subscribes to that approach."

About B2B Vertical Markets

B2B Vertical Markets is a strategic alliance between Royal Bank Financial Group and Mediagrif Interactive Technologies. The venture profits from Royal Bank's vast network of business customers in Canada and its expertise in electronic banking services, and from Mediagrif's technological and operational expertise in vertical marketplaces. B2B Vertical Markets plans to continue to pursue the development of B2B e-commerce vertical marketplaces.

About NET3F Inc.

In business since 1989, NET3F Inc. is engaged in two unique, yet related business activities. The first activity is the distribution and servicing of a software product line, AutoWay™ software that is used for accounting control, invoicing and estimating in the automotive sector. The second activity is its flagship product, NET3F, a B2B e-commerce system in the automotive information technology industry that uses proprietary software to facilitate the buying and selling of all types of OE, aftermarket and recycled automotive parts. In operation since November 2000, the NET3F marketplace was designed by veterans of the automotive industry and field tested by industry users.

About Mediagrif Interactive Technologies Inc.

Mediagrif Interactive Technologies Inc. (TSE: MDF), is a world-leading developer and operator of business-to-business e-commerce marketplaces. Mediagrif currently operates nine marketplaces - The Broker Forum (www.brokerforum.com), Memory Network (www.memorynetwork.com), PowerSource Online (www.powersourceonline.com), Virtual Chip Exchange (www.virtualchip.com), Virtual License Exchange (www.virtuallicense.com), Telecom Finders (www.telecomfinders.com), Image Parts (www.imageparts.com), Virtual MRO (www.vmro.com) and Global Wine & Spirits (www.globalwinespirits.com) - serving a membership base of over 8,700 businesses located in 60 countries. Major companies from Canada, Europe and the United States are among Mediagrif's strategic partners. Headquartered in Montreal, Mediagrif through its subsidiaries has other offices in Canada, the United States and Europe. For more information on Mediagrif please visit us at www.mediagrif.com or call 1 (877) 677-9088.

HARA PROPOSAL TO HELP SHOPS REDUCE VOC REPORTING COSTS

April 2001

A new proposal from the Ontario Ministry of the Environment's Environmental Monitoring and Reporting Branch will require that all auto refinish facilities report the emissions of each type of VOC in their paint applications effective January 1, 2002.

This action is being taken as part of the Anti-Smog Action Plan to reduce smog emissions and particularly VOC emissions from paint spraybooths.

Paint spray booth emissions in Ontario are estimated 6000 tons per year of Volatile Organic Compounds (VOC).

The cost of shops reporting has been estimated at $3000-$5000 per shop.

As a result the Hamilton District Autobody Repair Association (HARA) has met with the Ministry a number of times to discuss a fairer and cheaper process of reporting.

As well HARA has filed a report with the Red Tape Commission of Ontario to identify the financial hardships that facilities would be forced to endure, hiring engineers or environmental consultants in order to handle the reporting requirements.

In response to HARA's concerns the Ministry announced last November that only shops that use over 3000 kilograms of coatings product or 3000 kilograms of solvent need actually report. That meant only shops using 50 litters per week or more needed to consider reporting.

HARA has also proposed the creation of a solvent database in conjunction with the Environmental Assessment and Approvals branch of the Ministry, to act as a template for shops to identify their emissions in the future. HARA expects the cost of those shops that do have to report their emissions to be less than $200 if they use the template databases instead of the $3000 to $5000 it will cost if the shop has to hire a consultant or an engineer to do the work.

SCRS Press Release

POSITION STATEMENT: THE ESTIMATE

The Board of Directors of the Society of Collision Repair Specialists (SCRS), in addressing the issues surrounding data applications, has issued the following statement.

We believe: That an estimate and all of the included data is the property of the Company creating it.

That the estimate remains the creative property of the Company even though other sources of information or intellectual systems may have been leased or purchased to assist in producing it.

That as with any creative property, the Company has the sole determination as to how that estimate may be used and transmitted to others;

That in order for a collision repair facility to serve the needs of its clients and business partners it requires the ability to generate the estimate and communicate it, without restriction, to its partners in the repair process;

That any communication process must take place using open, standards-based, systems that are fully secure.

For more information, contact: Linda Atkins (509) 547-0445