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Announcement

Equipment in Panama Sells Through IronPlanet Online Auction

PLEASANTON, Calif. – Oct. 9, 2006 – IronPlanet (www.ironplanet.com), the third-largest heavy equipment auction company in North America, sold over $7 million of equipment and trucks during its Oct. 5 auction.

The auction featured nine items located in Colon, Panama. Bidders participated from as far away as British Columbia, New York and Tennessee with the highest bidders in Trinidad and Tobago and Columbia. The equipment included Caterpillar excavators and skid-steer loaders.

Alberto Perugini, Latin America region manager for Caterpillar Redistribution Services Inc., who consigned the Panama equipment, commented, “It was very good to see the diversity of IronPlanet’s customer base. Certainly I consider this auction result very positive.”

Over 6,000 auction attendees from across the U.S. and 18 other countries registered to bid on over 300 truck and construction equipment items at the online auction. Detailed auction results, including equipment and buyer locations, are available on www.ironplanet.com.

Founded in 1999, IronPlanet has grown to be the third-largest auction company of heavy equipment. With Caterpillar, Komatsu and Volvo as investors, IronPlanet sells a broad range of used equipment including construction, agricultural and trucks through online auctions. IronPlanet is the only auction company to provide detailed, guaranteed inspection reports for used equipment in its auctions. If you are interested in buying or selling used equipment, go to www.ironplanet.com.