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Announcement

IRONPLANET STARTS 2004 WITH RECORD-BREAKING AUCTION

PLEASANTON, Calif. - January 29, 2004 - IronPlanet (www.ironplanet.com), the third-largest construction equipment auction company in North America, today sold $6.6 million of equipment and trucks, making their first sale of 2004, the company's largest auction ever.

"The success of this auction shows that we are breaking new ground, demonstrating that even in a historically soft auction month, our model provides the means to have an exceptional auction at any time of the year," stated Mike Rich, vice president of sales at IronPlanet.

"This was the best auction in January that I can remember in a long time. I do not understand why so many people think they need to ship their units all of the way to Florida in February, when it is doubtful to me that their results could be as good. They're just spending unnecessary money on transportation that is not realized in their net return."

Over 6,700 registered bidders attended the online auction, including bidders from 50 states and sixteen other countries. Eighty-six different bidders fought over a 2001 Etnyre RTN55T trailer that sold for $33,250, while a 1995 Caterpillar 375 excavator sold to a buyer in the United Arab Emirates.

Founded in 1999, IronPlanet has grown to be one of the biggest auction companies of used construction equipment and trucks. Backed by Caterpillar, Komatsu, and Volvo, the company sells equipment through online auctions. IronPlanet is the only auction company to provide detailed, guaranteed inspection reports for each piece of used equipment. If you are interested in buying or selling used equipment, go to www.ironplanet.com.