The Grand Prize
Winning Team of
the 2003 Carrot Capital
Business Plan Challenge,
TerraCycle International, and
David Geliebter,
President of
the Carrot Capital
Education Foundation
opened
The NASDAQ Stock Market

Tuesday, April 29, 2003
at NASDAQ's MarketSite
in New York City.

In support of today's entrepreneurs and tomorrow's business leaders, The NASDAQ Stock Market is proud to congratulate and welcome the Grand Prize Winning Team of the 2003 Carrot Capital Business Plan Challenge to the Market Open. This year's team is TerraCycle International of Princeton University.

This year's winning team was selected from 750 registered teams representing 175 colleges and universities. The winning team is awarded up to $1 million in funding to start the business that was proposed in their plan. TerraCycle International, was founded by Tom Szaky, a 21-year old undergraduate on leave from Princeton University, is a start-up company that produces a cost effective, revolutionary, organic biofungicide and biofertilizer through an environmentally beneficial production process that reduces the amount of organic waste taken to the local landfills.

About the Carrot Capital Education Foundation's Business Plan Challenge

The Challenge is sponsored by the Carrot Capital Education Foundation, a non-profit corporation, which, in turn, is associated with Carrot Capital LLC. Carrot Capital is a New York-based venture capital firm that invests in seed and early stage businesses. Corporate sponsors of the Challenge include Forbes and HSBC Bank USA.