Announcement

Kent Rental Liquidates Equipment Through IronPlanet

PLEASANTON, Calif. — March 18, 2009 — IronPlanet® (www.ironplanet.com), the world’s leading online auction company for used construction and agricultural equipment, recently liquidated $859,000 of used rental equipment for Kent Rental of Pensacola, Fla.

IronPlanet conducted a one-owner liquidation auction on January 16 to sell inventory from the Kent Rental fleet ranging from small hand tools to reach forklifts. IronPlanet’s online auction attracted a global audience of more than 13,200 visitors from 119 countries who purchased 333 pieces of equipment.

“This auction exceeded our expectations by more than 20 percent,” said R. Andrew Kent, Managing Member of Kent Rental. “We had an aggressive timeline to move our inventory — 45 days — and IronPlanet got the job done for us. Our decision to work with IronPlanet was driven by IronPlanet’s global reach, price performance, and lower transaction costs. We didn’t feel we would attract the number and types of buyers through a traditional auction, and if we had to move our equipment to a larger auction site, it would have been a major undertaking and costly.”

“We take seriously the trust that family businesses like Kent Rental place in IronPlanet when decisions to liquidate equipment are reached,” said Mike Groves, IronPlanet’s senior vice president of North American sales. “IronPlanet auctions continue to outperform traditional auctions in price performance and cost efficiency through our global reach and low selling costs.”

About IronPlanet

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.