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Mediagrif to Rewrite Polygon Software to Enhance Network and Grow Membership Worldwide Polygon — Press Release 9/04

Golden, Colorado - September 28, 2004 — Mediagrif will provide Polygon with completely re-written, state-of-the-art software, designed to add functionality and make Polygon quicker and easier to use. The new software incorporates numerous suggestions and requests from the membership, and is based on current-generation Java code on top of an Oracle database.

"Polygon re-written in Java and running on Oracle, is like going from a 10-year-old, high-mileage rust-bucket, to a brand new Porsche 911-S," states Polygon CEO Jacques Voorhees. "It runs faster, its easier and quicker for our members to use, and it provides new capabilities that will translate into even more trading opportunities."

Polygon, which opened for business in May 1984, celebrates its 20th anniversary this year as the jewelry industry's largest and most active online B2B marketplace. Over 3,000 retail jewelers, suppliers, manufacturers, and other jewelry industry businesses, transact several million dollars a day in business on Polygon. The Polygon diamond database, estimated to be the largest collection of polished diamonds on Earth, recently exceeded $1.5 billion in wholesale value.

Among many new capabilities, Polygon's Java-based software is designed to increasingly support the "internationalization" of Polygon, which already boasts members on six continents.

"We see international expansion as one of our largest growth areas in the coming few years," notes Marketing Director Krista Olson. "Our new software gives us the ability to allow users to ultimately define their own trading areas, be it Australia, Hong Kong, Europe, or any combination of geographical, credit-worthiness, and membership-association status. Thus a retailer in London who only wishes to access UK-based suppliers can define their universe that way, but that same retailer-one day needing a very difficult-to-find item-is equally empowered to 'search the world' to ensure they find it."

Polygon is owned by Mediagrif Interactive Technologies, Inc. (TSX: MDF) of Montreal, Canada. Mediagrif, a public company, operates over a dozen e-business networks worldwide.

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