Announcement

Rushing & Mason, Inc. Sells $2.74 Million of Equipment Through IronPlanet

Pleasanton, CA — April 28, 2008 — IronPlanet® (www.ironplanet.com), the world's leading online auction company for used construction and agricultural equipment, recently liquidated $2.74 million of equipment for Rushing & Mason, Inc. of Memphis, Tenn., and Little Rock, Ark., achieving 121 percent of its initial price target.

The March 27 auction drew a global audience of 14,000 visitors and generated an average of 21 bids per item. Nearly 20 percent of the equipment was sold to IronPlanet's international buyer base.

“I did a lot of research and spoke to a lot of auction companies to understand who had the best auction model and who would ultimately deliver the best overall value to Rushing & Mason,” said David Sax, CFO and COO of Rushing & Mason, Inc. “Our decision to select IronPlanet was absolutely the right choice. IronPlanet gave us access to their global buyer base, enabling us to exceed our price expectations, and the total cost to sell our equipment was the lowest. The most important factor was that we were able to sell our equipment straight from our locations.”

“IronPlanet continues to demonstrate that our auctions offer the greatest reach, deliver on pricing expectations, and offer the lowest total cost of sale versus traditional auctions,” said Mike Groves, IronPlanet's senior vice president of North American sales. “We appreciate the trust and confidence that we have built with customers like Rushing & Mason and will continue to build lasting value and confidence for these customers.”

IronPlanet is the world's leading online auction company for used construction and agricultural equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.