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Announcement

IronPlanet Completes $8.6 Million Auction

PLEASANTON, Calif. – May 31, 2005 – IronPlanet (www.ironplanet.com), the third-largest auction company of heavy equipment in North America, sold $8.6 million of equipment and trucks in its May 19 auction.

Over 7,100 registered auction attendees from across the U.S. and 16 other countries participated in the unreserved online auction. The auction took place online with all bidding over the internet, accounting for 100% of the auction’s total sales. IronPlanet’s auctions are exclusively online, allowing buyers to bid from anywhere in the world. Buyers participated from as far away as Nigeria, Netherlands, and Lithuania.

“Not only was this sale our biggest auction to date,” commented Mike Rich, vice-president of sales at IronPlanet. “It’s the biggest online construction equipment auction ever.”

Founded in 1999, IronPlanet has grown to be the third-largest auction company of heavy equipment. With investors such as 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.