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Powerpetro Appoints Franchisee for Central America
Posted: 11/26/2002

Posted By: Powerpetro Inc Contact: Arjune Singh
Phone: 305-234-4531 Email: asingh@powerpetro.com

FOR IMMEDIATE RELEASE

November 25, 2002
Contact: Arjune Singh -- (305) 234-4531, asingh@powerpetro.com

Powerpetro Appoints Franchisee for Central America

Miami, Florida. Powerpetro, a Web-based marketplace for petroleum products, announced today the appointment of Mercadeo Electronico S.A. (E Mart) to lead its franchise operations in Central America.

Powerpetro’s software, accessible at www.powerpetro.com, connects buyers and sellers of petroleum products and services in an efficient online market. Currently operational in Brazil, Peru, and Puerto Rico, the market not only results in more competitive pricing, but also shaves time from the bid and purchasing cycle. Suppliers include major multinational oil firms such as Texaco, Castrol, and Trafigura, as well as dozens of more local suppliers, who enjoy not only increased market efficiencies, but also access to a more diverse customer base.

E Mart’s CEO, Guillermo Diaz Salazar is a prominent business executive who has also served as El Salvador’s Minister of Economy. In the private sector he spent twelve years with ESSO as Director of Public Relations and has consulted with organizations including Los Alamos National Laboratories, Checchi, and US Agency for International Development (USAID).

The market in Central America is highly fragmented and very competitive for small to medium purchasers (5 to 25 thousand barrels per year). “That’s the perfect scenario for Powerpetro,” says Arjune Singh, President and CEO. “The quest for market efficiency will drive players naturally to Powerpetro. With Mr. Salazar’s contacts throughout Central America, and his knowledge of the petroleum industry, that will happen sooner rather than later. We’ve set significant and ambitious goals together, and we expect to meet them all.”

Powerpetro Inc. is a Delaware company with headquarters in Miami. Mr. Singh can be reached at 305-234-4531, or via e-mail at asingh@powerpetro.com. Mr. Salazar can be contacted at (503) 369-0459 or via e-mail at gsalazar@powerpetro.com.




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