Simple Bash Script Question

I am having trouble exporting a shell variable from a Bash script.

Here is the script test.sh:
#! /bin/sh
echo it works
export IA32ROOT="/opt/intel/compiler50/ia32"
echo done

Here is the output:
[root@localhost bin]# ./test.sh
it works
done
[root@localhost bin]# echo $IA32ROOT

[root@localhost bin]#

As you can see, there is no export nor any error...

Any advice would be greatly appreciated

Thanks
Bob