Planet Polymer Technologies Inc. announces expanded alliance with American Re Strategic Ventures through 1999

Business Wire, Jan 16, 1997

SAN DIEGO--(BUSINESS WIRE)--Jan. 16, 1997--Planet Polymer Technologies Inc., a specialty chemical company (NASDAQ:POLY), and American Re Strategic Ventures, a unit of American Re Corp. have entered into an expanded business alliance to continue to facilitate commercial sales of Planet's proprietary plastic resins, films and coatings.

The terms of the agreement are effective until January 2000.

Under the agreement American Re will provide strategic marketing support on an ongoing basis to introduce Planet Polymer's emerging environmental technology to Fortune 500 companies within Planet Polymer's target markets.

"I am delighted that American Re has decided to not only continue working with Planet Polymer Technologies Inc. but to also expand its programs and services to help us meet our corporate goals and objectives of becoming a fully commercialized entity," said Robert J. Petcavich, Ph.D., CEO of Planet Polymer Technologies Inc. "We look forward to this expanded business relationship assisting us with our goal to improve environmental quality."

American Re Strategic Ventures is a unit of American Re Corp. which, through its subsidiaries and affiliates, is the third largest reinsurer in the United States and direct provider of reinsurance and related services to clients worldwide. American Re Strategic Ventures makes strategic investments and alliances with emerging growth companies who provide unique products and services that directly impact core risk management interests of American Re, their clients, and prospects.

Planet Polymer Technologies Inc. is a specialty chemical company that designs and develops environmental solutions by engineering polymer materials that provide environmentally superior attributes for products designed for the personal hygiene, food packaging, and medical disposable industries. It is the company's goal to advance its leadership position in the emerging industry by providing environmentally compatible polymeric alternatives to conventional plastics.

Except for the historical information contained herein, this news release contains forward-looking statements which involve risks and uncertainties, including commercial acceptance of the company's products and the risk that the goals and objectives of the company's agreement with American Re will not be achieved to the extent anticipated or at all, as well as the other risks detailed from time to time in Planet Polymer's SEC reports, including the report on Form 10-KSB for the year ended Dec. 31, 1996.

CONTACT: Investor Awareness Inc., Deerfield, Ill.

Tony Schor, 847/945-2222

or

Planet Polymer Technologies Inc., San Diego

Rebecca Deen, 619/549-5130