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Announcement

IronPlanet Ends Quarter with $4.4 Million Auction

PLEASANTON, Calif. – July 14, 2005 – IronPlanet (www.ironplanet.com), the third-largest auction company of heavy equipment in North America, sold $4.4 million of equipment and trucks in its June 30 auction, closing the second quarter of 2005.

“We’re reaching interested bidders, no matter what time of year,” stated Mike Rich, vice-president of sales at IronPlanet. “I think the convenience of bidding from their local offices is a large part of our success in the summer months. They do not have to leave their job sites during the prime work season, and they do not have to weather the heat like traditional auctions.”

The auction drew 7,800 registered auction attendees from across the U.S. and 13 other countries. Twenty-seven bidders vied for a 1988 Case 450C crawler tractor that sold for $14,000. A 2001 Caterpillar D400E II articulated dump truck sold for the highest bid of $210,000. A 1998 Caterpillar 928G wheel loader located in Georgia sold to a buyer in South Africa for $65,000.

Bob Alleger, CEO of IronPlanet commented, “This led to the company’s best-ever public auction volume in the second quarter of over $36 million, which in turn paved the way for our most profitable month and IronPlanet’s most profitable fiscal quarter in its five-year history.”

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 auctions. If you are interested in buying or selling used equipment, go to www.ironplanet.com.