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Announcement

IronPlanet Auction Draws 112 Bids on Track Dozer

PLEASANTON, Calif. – April 25, 2005 – IronPlanet (www.ironplanet.com), the third-largest auction company of heavy equipment in North America, sold $2.1 million of equipment and trucks in its April 21 auction.

A 1998 Caterpillar D8R track dozer opened at $75,000, and sold 112 bids later for $181,000. The eighteen bidders were located in six U.S. states and four countries.

“Our featured auction has no hidden reserves,” stated Mike Rich, vice-president of sales at IronPlanet. “We have an opening bid, like on this dozer, which is set low enough to entice bidding, without wasting buyers’ time starting each piece at zero. It’s just like where the auctioneer at a physical auction starts the bidding.”

The April 21 sale drew over 8,100 registered auction attendees with bidders from across the U.S. and 13 other countries. On average, an item sold to a buyer more than 800 miles from its selling location, with 91% of the equipment going to out-of-state buyers.

Founded in 1999, IronPlanet has grown to be the third-largest auction company of heavy equipment. Financially backed by Caterpillar, Komatsu and Volvo, 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 auction. If you are interested in buying or selling used equipment, go to www.ironplanet.com.