Nfs – problem in exporting a partition on a usb stick as nfs volume

I have a USB disk which has 2 partitions.It gets mounted automatically in /media

It is the default behavior in the OS (Lucid 10.04 64 bit) that upon connecting a USB (be it thumb drive or hard disk) it will mount it in /media.
I have 2 patitions on the USB hard disk as follows

ls -l /media

drwxrwxrwx 2 bond bond  2048 2010-02-12 04:12 HPLAUNCHER
drwx------ 7 bond bond  4096 1970-01-01 05:30 vol1
drwx------ 1 bond bond 20480 2011-01-03 17:43 vol2

I want to share vol2 on nfs

Here is the /etc/exports file entry on nfs server

/media/vol2        192.168.1.0/24(rw,sync,no_subtree_check)

On the client machine I tried to mount the above nfs volume

mount -t nfs 192.168.1.19:/media/vol2 /mnt/nfs

Things worked well upto here.

But I was not able to go inside the mounted volume at the client machine.

Hence I checked the permissions on the folder on nfs server they were as follows

drwx------ 1 bond bond 20480 2011-01-03 17:43 vol2

and the share mounted on client machine which was above only had following permissions

drwx------ 1 client_hostname client_hostname 20480 2011-01-03 17:43 vol2

Considering this to be source of problem I tried to change the permissions at the server

chmod -R 755 /media/vol2 

but this attempt failed.
Does any one has any clue as what might be the issue?
It appears to be some file system problem.

I checked by mount command the type of file system on USB disk

/dev/sdb2 on /media/vol1 type vfat (rw,nosuid,nodev,uhelper=udisks,uid=1000,gid=1000,shortname=mixed,dmask=0077,utf8=1,flush)
/dev/sdb5 on /media/vol2 type fuseblk (rw,nosuid,nodev,allow_other,blksize=4096,default_permissions)
/dev/sr1 on /media/HPLAUNCHER type iso9660 (ro,nosuid,nodev,uhelper=udisks,uid=1000,gid=1000,iocharset=utf8,mode=0400,dmode=0500)

and the /var/log/syslog shows

Jan  6 10:24:12 bond ntfs-3g[2278]: Mounted /dev/sdb5 (Read-Write, label "vol2", NTFS 3.1)
Jan  6 10:24:12 bond ntfs-3g[2278]: Cmdline options: rw,nosuid,nodev,uhelper=udisks,uid=1000,gid=1000,dmask=0077
Jan  6 10:24:12 bond ntfs-3g[2278]: Mount options: rw,nosuid,nodev,uhelper=udisks,silent,allow_other,nonempty,relatime,fsname=/dev/sdb5,blkdev,blksize=4096,default_permissions
Jan  6 10:24:12 bond ntfs-3g[2278]: Global ownership and permissions enforced, configuration type 1

Where I see ntfs-3g driver in use for the above volume which I want to export on nfs.Can this be the source of my problems? Or I need to check some thing else?